2 most powerful men

Reader comment on: Holder's Power

Submitted by Fast Eddie (United States), Jun 2, 2012 11:20

Fut. of Cap. is obviously correct that the WSJ over reached in their remark. But the way I read it, they meant to refer to the two most powerful men in America with respect to the subject of law enforcement, which is probably true. As for who is actually #2 in power, it has to be Bernanke because his economic policies are clearly dominant now and have been for the past several years. He affects many more people in many more ways than any of the other names on the F of C list. And, according to the WSJ in a May 31 article, entitled "Fed Board Reflects Obama's Influence," Bernanke is now, with the confirmation of the two latest Fed Board Members, running a seven-member Fed that is composed ENTIRELY of six Obama appointees and one Obama re-appointee (Bernanke himself).

It is truly fascinating to hear the all-wise all-knowing TV talking heads debate the effectiveness (or lack thereof) of the Obama stimulus legislation and essentially completely ignore the much (!) larger effects of the $2 Trillion Bernanke has injected into the economy in the past couple of years, with more to come (per his own recent announcements) because, apparently, the massive devaluation of the dollar (and the inevitable inflation that will eventually follow) and destruction of the interest-earning 401K retirement accounts of fifty million U.S. retirees has not had sufficient beneficial effect.

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