You’d think that with the economy in shambles, Ben Bernanke would have been grilled in his 60 Minutes interview. But in an interview labeled as a “cream puff,” that never happened.
Instead we got this.
“Mr. Chairman, I’m gonna start with a question that everyone wants me to ask: when does this end?” began the interview, to which Bernanke responded:
“It depends a lot on the financial system. The lesson of history is that you do not get a sustained economic recovery as long as the financial system is in crisis. We’ve seen some progress in the financial markets, absolutely. But until we get that stabilized and working normally, we’re not gonna see recovery. But we do have a plan. We’re working on it. And I do think that we will get it stabilized, and we’ll see the recession coming to an end probably this year. We’ll see recovery beginning next year. And it will pick up steam over time.”
Now, you’d think the next question out of the interviewer’s mouth would have been: “You have a plan to get us out of this? What exactly does it entail? And why does it appear that you have no idea what you’re doing?”
View more of the interview here.