I am certain that everyone watching Bernanke’s testimony on Capitol Hill is as concerned for Chairman Bernanke’s health as I am. It seems that our reluctant savior has a very severe case of Alzheimer’s. Thus far the substance of Dr. Bernanke’s testimony can be summarized by his most frequent quote “I do not recollect.” No one really expects this Congressional hearing to have any substantive consequences for Chairman Bernanke. However, there is a danger that Dr. Bernanke’s detractors might use his terrible illness as an excuse for removing him from office.
Unsurprisingly, the consensus on CNBC seems to be that Bernanke did everything of which he is accused but its OK because it was for the greater good.