As a supposed non-political, independent govt appointee he should have had the professional courtesy, as it were, to keep quiet about political matters and figure pointing till long after his reign as Fed Czar. Part of the Fed's credibility, if it has any left,is as an independent, non-biased entity apart from central govt. .
Instead he chose to blame Bush and the republicans for deficit spending that he mentions will lead to inflation and higher interest rates, praises the Clinton administration (does anyone really believe we had a balance budget in those years), and explains away the housing bubble by saying it was a result of "low wages in China", rather than his running the printing presses.
Just an attempt to protect his legacy, in the short time he has left, very short sighted and selfish. And to pocket a quick $8M - most of the people in his circle put away billions during his reign. He struggled as a consultant before his appointment to the Fed, and guess he hopes that Hillary, et al will keep him flush with speaking fees and consultancies if they assume power. |
