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March 16, 2008
Fed Chief Shifts Path, Inventing Policy in Crisis
By Sheila Samples
Until recently, Wall Street executives grumbled privately that Mr. Bernanke was too disengaged from the real world, too slow to understand the plight caused by bad mortgages and too hesitant about lowering interest rates. But Mr. Bernanke has become Wall Street?s most important and most powerful friend. Many executives are praising him for his creativity and willingness to act boldly--or to bail them out.
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Until recently, Wall Street executives grumbled privately that Mr. Bernanke was too disengaged from the real world, too slow to understand the plight caused by bad mortgages and too hesitant about lowering interest rates. But Mr. Bernanke has become Wall Street?s most important and most powerful friend. Many executives are praising him for his creativity and willingness to act boldly--or to bail them out.Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.