Standing Ovation for Bush...

Everyone needs to stand up and clap. Whether you're Republican or Democrat, Liberal or Conservative, Socialist or Libertarian, you should be happy that Ben Bernanke is to be the new Fed Chair. Bernanke has been the second most quoted and influential Economics figure in recent years. Bernanke has been a big advocate for Fed transparency as well as for a continuation of Greenspan's brand of monetary policy. The Fed is one place that you need a relative insider. Someone who has a good academic background and understands the ins and outs of the system. It's also encouraging that we're getting a new Fed Chair that has seen the ups and downs of various business cycles and will not react spasmodically.

I can't imagine that there will be anyone upset by this nomination. This one's pretty much a slam dunk...