"As a longstanding critic of the Federal Reserve, I am
experiencing a role reversal of my own. In the new
circumstances, I find myself feeling sympathy and a
measure of admiration for Bernanke's willingness to
stand up for unorthodox ideas and to switch sides on the
sensitive matter of debt reduction for failing
homeowners."
" For many years, I have assailed the institution's unaccountable power
and anti-democratic qualities, its incestuous relations
with powerful banks and investment houses.
Those flaws and contradictions remain unreformed"
"yet I now think the country needs a
stronger Fed-a central bank not afraid to use its
awesome powers to help the real economy more directly."
