I know the captain of the Titanic was an honorable man because he didn't lower himself into a lifeboat and save his own life as he saw the approaching iceberg. This week, a sort of captain of an analgous ship did not show the same honor. Ben Bernanke, Chairman of the Federal Reserve, announced to the president that he may not serve out his entire term. The Chairman told President Obama he feels no personal responsibility for staying in his position until the quantitative easing program, instituted by him several years ago, has run its course.
The Fed Chairman, who has devalued the dollar by printing more money than Parker Brothers for their board game monopoly over the last 70 years, wants to get off the ship and onto another one before the holes he has created start to allow more water in than can possibly be bailed out by the economy. Chairman Bernanke, even with his limited intelligence, realizes that he can't print 85 billion dollars a month to buy bonds with so that money flows into the stock market, without at some point seriously damaging the economy when all that printed money has to be pulled back out. So he wants to be far away from the wreckage of the ship he helped sink.
While Ben Bernanke will most likely be enjoying some cushy, high paying university gig, at taxpayer expense, he will be just the latest in a long line of Leftists who have fallen in doo doo and come up smelling like a rose. In fact, it seems as though those on the Left are immune to any consequences to their actions and policies. Remember Jon Corzine? He orchestrated the demise of Enron, then bankrupted the state of New Jersey when he was governor and finally he made over a billion dollars of investors' money disappear at MF Global, the investment company he founded and ran into the ground. He was never prosecuted for the illegal nature of the handling of investor funds, and mark my words, he will surface again in some high paying Wall St. job or perhaps even a post in a Democrat administration down the road.
Mr. Bernanke leaving before the proverbial feces hits the fan, is somewhat analogous to a drive-by shooter who sprays a crowd with a hail of gunfire, and then is long gone when the consequences of his actions are fully felt by his victims. The people of the United States will be forced to deal with the consequences of Chairman Bernanke's monetary policy for many years after he has comfortably retired at the expense of others. But then this is the legacy of Leftism, to keep the commoners equally impoverished at the expense of enriching the elitist class.