(TIME MAGAZINE) — /SNIP/ One scholar has written that the Great Depression of the 1930s could have been averted if the Federal Reserve at the time hadn’t constricted the money supply, let a third of American banks go under and told Americans to tighten their belts. That scholar, Ben Bernanke, just happened to be chairman of the Federal Reserve when the economy this year appeared to be headed for a repeat performance.

more via To Our Readers: The Good Banker – Person of the Year 2009 – TIME.

PID COMMENT: Be sure you read this with an empty stomach. We’re just sayin’. With this issue of ‘Time’, we’re being told that Bernanke is a hero, which must mean all is well in Obamaland. Now, go out and spend, people!

Also, take note of the runners-up in the sidebar to the right: Stanley McChrystal, the Chinese Worker, and Nancy Pelosi. Well, at least it wasn’t given to Obama.

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