Alan Greenspan: Republican Attacks On Ben Bernanke 'Wholly Inappropriate And Destructive'

Former Federal Reserve chairman Alan Greenspan says that Republican presidential candidates' attacks on Ben Bernanke, current chairman of the Federal Reserve, are "wholly inappropriate and destructive."

Former Federal Reserve chairman Alan Greenspan says enough with all the attacking of Ben Bernanke.

"Anyone has the right to criticize Federal Reserve policy, but it is wholly inappropriate and destructive to engage in ad hominem attacks," Greenspan told The Financial Times, referring to GOP presidential candidates' bashing of his successor, Ben Bernanke.

Bernanke has led the Fed since 2006, during the financial crisis, recession and recovery. His drastic actions to stimulate the economy -- keeping interest rates near zero and tripling the size of the Fed's balance sheet -- have become a flashpoint in the Republican presidential primary. On top of all that, add to this the irony that Greenspan and Bernanke actually are Republicans.

Ron Paul, a Republican Congressman and presidential candidate, has long called for an end to the Federal Reserve and a return to the gold standard. Once seen as largely outside the mainstream, Paul's views on the Fed have been gaining traction in the Republican discourse.

When he was still in the race, Texas Governor Rick Perry derided Bernanke saying in August that if the Fed chairman "prints more money between now and the election, I don't know what y'all would do to him in Iowa, but we would treat him pretty ugly down in Texas." He added that printing more money before the election would be "almost treasonous."

Republican frontrunner Mitt Romney has said that if he gets elected he wouldn't let Bernanke stay on as Fed chairman. "I wouldn't keep Bernanke in office. I would choose someone of my own," Romney said in October.

Newt Gingrich expressed similar sentiments: "If they want to really change things, the first person to fire is Bernanke, who is a disastrous chairman of the Federal Reserve," Gingrich said in October.

Comments

[SamForest]

09:44 PM on 04/05/2012

Republicans cannot control their mouths. Hate and anger spews out unregulated. Fox news and reality news created them.

[JACK DOYLE]

12:20 PM on 04/04/2012

It really does not pay to be a REPUGNICAN,,they have no loyalty,intelligence, budget that will pass or work or heart except for Cheney who got a new one after Lucifer asked for his back.

[BigBearcatBill]

03:09 AM on 04/04/2012

They are like a snake when it sheds its skin, it can see so it strikes at anything. Note we have only received a couple of admissions from the old timers who can't put up with the unreasonable young ones and Mitch McConnel who only wants to do one thing - remove Obama from office, then the second - win Senate and keep House, the republicans will control the world, but have a lot of enemies all over it.

[stargazer13]

12:25 AM on 04/04/2012

what has been sowed

shall be reaped

[revr]

05:56 PM on 04/03/2012

Mr. Greenspan returns to the scene just to impart some unasked for advice. Perhaps if you would have stood up to Mr. Bush, you would have some credibility in these matters, and we would not be in this mess. Now you want us to lend you our ears? When things go right, Mr. Bernanke will get the credit, and when things are wrong, he should be held accountable.

[romus]

05:03 PM on 04/03/2012

Punk Economics: Lesson 3

http://www.youtube.com/watch?v=wDFgtb0by4E&feature=channel

[jpaw]

04:49 PM on 04/03/2012

Republicans misrepresentation of the Federal Reserve and monetary system parallels their campaign of misinformation in science (especially climate change).

[Rush Libraughl 83]

02:18 PM on 04/03/2012

All I know is that the people ruining the work have business, finance and law degrees. Right, Left, Blue, Red or Purple — you guys are just awful.

I swear we need someone who's from Silicon Valley and has a background in information systems to run the country.

[StopMakingSense2]

02:18 PM on 04/03/2012

Another of the Keystone cops from the Bush era! Housing bubble! What housing bubble? How could prices keep doubling every few year based on liar loans turn out bad? I just couldn't see the forest for the trees!

[romus]

01:10 PM on 04/03/2012

Bernanke's Failed CNBC Predictions

http://dailybail.com/home/a-movement-by-the-people-to-prevent-the-reappointment-of-the.html

Eliot Spitzer: "The Federal Reserve Is A Ponzi Scheme" (Inside The Fed's Secret Pile Of Trash With Ratigan, Spitzer & Toure

http://dailybail.com/home/eliot-spitzer-the-federal-reserve-is-a-ponzi-scheme-inside-t.html

U.S. National Debt Clock

http://www.usdebtclock.org/

[amwa]

12:55 PM on 04/03/2012

Republican leaders have forgotten they are Americans first. Mitch McConnell and such started this hate which was further enforced by Fox Opinion station. They are destroying our country with their hate because they cannot get over the fact a person of color is in the White House, even though they know he is doing a good job. Barack Obama's accomplishments are many in spite of the Republican lack of bipartisanship.They are so fixated on hate they no longer have any credibility.

[behumane]

02:13 PM on 04/03/2012

You are right (pardon the pun). The idea that a person of color could be our president has disoriented them so badly, they don't know what else to do but hate. All we can do is keep putting in the forefront, what has been accomplished by our President so that lies and hate don't win out.

[Stephanie Cassandras]

01:30 AM on 04/04/2012

My opinion is that President Obama has faced the most powerful resistance of any president before him, and I agree that this is tied to his being bi-racial in large part. They were calling him a Socialist before he had time to sit down in the oval office. BTW, has anyone else ever gotten any kind of health care plan passed???....no.

[amwa]

11:20 AM on 04/04/2012

Hopefully he will get 4 more years .proveprove

[Ed Baker]

12:41 PM on 04/03/2012

Haterade?

Who runs this place? Can anyone spell?

[behumane]

02:13 PM on 04/03/2012

Duh.

[ditto head]

12:38 PM on 04/03/2012

the only thing left of the GOP will be the creationists, Homophobic mouth breathers that believe anything they are spoon feb by Faux, Koch Industries, and Rove.

[bigfootphd]

09:58 AM on 04/03/2012

Bernanke is a big boy, he can defend himself. What I'm concerned about is the Right's eagerness to attack private citizens with the same vitriol as they'd reserve for the furthest left Congressman. Booing gay soldiers, cheering the hypothetical deaths of those without health insurance, attacking young women testifying before Congress, and dead teenage boys... all beyond the pale, and no one with any credibility on the right can reign in this madness.

[ditto head]

12:36 PM on 04/03/2012

well said F&F

[behumane]

02:18 PM on 04/03/2012

Sad thing is that everything you stated is true, but they justify their hate to themselves. And those with any credibility sold their soul to the devil just to be liked.

[PROGRESSISGOOD]

09:47 AM on 04/03/2012

If all these Republicans hate him so much he must be doing a bang up job. 10 more years for Bernanke.