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Bernanke Saves?

June 10, 2009

According to Jim Cramer, Ben Bernanke has saved us all:

Jim Cramer says history will recognize Fed Chairman Ben Bernanke as the primary reason America avoided a much more serious meltdown as the housing market and rotten banking investments forced the economy to halt last year.

“I’ll just come right out and say it: Ben Bernanke will go down as the greatest Federal Reserve chairman in history,” Cramer wrote in New York magazine.

Bernanke, Cramer wrote, “will be known as the man who averted the Great Depression Two, a sequel that could have eliminated the United States as a world financial superpower and reduced us to this century’s Britain.”

Cramer credited Bernanke for pushing Obama to enact the stimulus plan to support the economy through the downturn, and for giving Treasury the strategy of letting the banks raise money privately via the TARP plan, rather than simply bailing them out directly with taxpayer money.

You just cannot make up this stuff….

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