Thomas Friedman Has Not Heard About the Housing Bubble

Thomas Friedman gives readers a lecture on adult and childish behavior in his column today. In the latter category is the opposition to the reappointment of Ben Bernanke as Federal Reserve Board chairman.

It is worth noting that Bernanke ignored the growth of the housing bubble, the collapse of which has given us the worse downturn since the Great Depression. It is difficult to imagine a more disastrous failure by a Fed chair than pushing the economy to the brink of collapse, which Mr. Bernanke told Congress was the result of his policies.

Adults expect to be held accountable for their performance and hold others accountable. Mr. Friedman's lecture is more than a little off-base on this one.

--Dean Baker

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