Bernanke Under Fire. Will He Take the Fed Down Too?

There is a lot of debate as Bernanke heads for another round of testimony on Capital Hill:

• Was the Federal Reserve competent in managing the economy pre-mortgage meltdown and during the ongoing economic crisis?
• Should the Fed be reined in by Congress and lose its political independence?
• Should Bernanke be retained or replaced when his term expires in January 2010?

What do you think? Is the Federal Reserve necessary? Must it retain its political independence?

Ron Paul is leading the charge to abolish the institution and gave this speech.

Here is more:

I’m not sure I have an opinion yet. I am swiftly moving through an Alexander Hamilton biography to learn more about the man and the life that created this institution.