Bernanke Named Person Of Year By Time

12.16.09 |

"Time" magazine has named Federal Reserve Chairman Ben Bernanke as its Person of the Year for 2009. "Time" Managing Editor Richard Stengel made the announcement this morning on NBC's "Today" show. The Person of the Year title typically goes to the person, group, invention or idea that has had the biggest influence on the events of the year. Stengel described Bernanke, a 56-year-old former Princeton University professor, as the single biggest player in the U.S. economy this year. He credited the Fed chairman with keeping the country from plunging into another Great Depression, but admitted his shortcomings have made him a lightning rod for controversy. Bernanke beat out names like President Obama, Nancy Pelosi, Jamaican sprinter Usain Bolt and the Chinese worker for the Person of the Year title. Tomorrow, the Senate Banking Committee votes on his nomination for a second term.