Barack Obama Shouldn’t Reappoint Ben Bernanke

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By Douglas A. McIntyre Published
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John Tamny

In his monetary policy classic Lombard Street, 19th century financial writer Walter Bagehot observed that due to the unwarranted prestige attached to central banks, posts within tend “to be desired by vain men, by lazy men, by men of rank.”

And just as Alan Greenspan made no secret of his lust for the position of Federal Reserve chairman in 1987, neither did his successor. Perhaps due to a 2005 New York Times profile of Ben Bernanke that stressed that his closest friends did not even know if he was a Republican, Bernanke made sure to heavily court the right in hopes of securing the coveted nomination.

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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