Topic: Every Breath You Take

[Dunrobin]

Columbia Business School's Dean Glenn Hubbard sings about wanting Alan Greenspan's job that went instead to New Fed Chair Ben Bernanke.

Parody created by Columbia Business School students.

[youtube=425,350]3u2qRXb4xCU[/youtube]

[shemps#1]

I'm going to ask a question that will reveal my utter ignorance as to how the Fed Chair position operates. Can Bernanke be tossed or is it more like a Supreme Court Justice and he's there for life or until he decides to step down?

[Dunrobin]

While the Federal Reserve is a privately-owned institution (it is not a government agency* at all, contrary to popular belief,) the Chairman and Board of Governors get technically nominated by the president and confirmed by the senate every four years.  I think Benny's current term is up in 2010.


* Wikipedia claims the Fed is a "quasi-public and quasi-private (government entity with private components)", but that's massively understating the fraud that is the "Federal Reserve."