As the subprime mortgage and credit disasters continue to wreak havoc on world economies and pocketbooks, many are looking to Federal Reserve Chair Ben Bernanke for guidance and leadership in this tumultuous time. Fortunately, our Fed chief is one of the pre-eminent scholars of the Great Depression. Because of the market turmoil, Bernanke's treatment of the Great Depression has been finding a new audience of readers as media, policymakers, businessmen, professionals, and others -- both in the US and abroad -- seek to understand our present economic situation.
[sheepishly raising hand from the back row] Um, wouldn't "guidance and leadership" possibly -- just possibly -- have been best demonstrated by steering us clear of this catastrophre from the get-go? I mean, this kind of feels like asking the burglar who just stole your flat-screen TV and family jewelry how you might go about getting those items back. Except you have to pay for his advice and take time out of your schedule to listen to it.