Ben Bernanke has found a way to quiet all the haters: write a book and frame the Fed’s response to the crisis as acts of moral courage and bravery. Here’s a quote:
“When the economic well-being of their nation demanded a strong and creative response, my colleagues at the Federal Reserve, policymakers and staff alike, mustered the moral courage to do what was necessary, often in the face of bitter criticism and condemnation. I am grateful to all of them.”
The book, titled The Courage to Act (I kid you not), will be published in October. Seriously though, of all the possible ways to go with this book, this is one of the most cringe-worthy and least convincing I can think of. Somehow I doubt Rand Paul will be swayed by the Bernank’s moral courage.