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Charlie Gasparino: Lay Off Ben Bernanke, Lay On Obama

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Charles Gasparino is just going to cut right to the chase-- he's seen that YouTube clip. You know the one, with the bears talkin' economics and calling the chairman of the Federal Reserve "The Ben Bernank"? Someone sent it to him the other day and not just some pissant from a bucket shop on Long Island but a real live BSD.

I should point out that I was told to download the YouTube video not by some dopey trader during a slow day in the markets, but by a CEO in New York City who runs one of the biggest financial firms in the world. Bernanke's senior staff has seen it too, I'm told, though a spokesman wouldn't say whether the chairman has. "This video is going fucking viral," the CEO told me with a laugh.

You know who's not laughing? Charles Gasparino. After he got the clip to work (there were a few false starts and he didn't have the volume turned on) he became filled with rage at these furry little shits.

While it's easy to blow off a YouTube video as nothing more than a cheap shot created by someone with too much time on his hands, the fact that Bernanke or any Fed chairman has gone from relative mainstream obscurity—fed chairman for all the power in navigating the economy through their control of the country's money supply have never exactly been house hold names in the majority of American households—to an object of popular derision and scorn really says something about Bernanke's ability to remain an effective Fed chairman...

To be sure, QE-2 will probably work as well as QE-1, which means it probably won't do much to spark an incredibly weak economy staggering under the weight of 9.5 percent unemployment. But that doesn't mean Bernanke deserves all the crap he's getting. He doesn't because attacking Bernanke obscures some of the big problems facing the American economy as we conclude the second year of President Obama's hope and change agenda that clearly isn't working.

So whoever is making these things, let's get one shining a light on the real problem. Let Chaz know if you need ideas for dialogue, he came up with some good stuff last night.

Ben Bernanke: The Economy's Fall Guy [TDB]


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