Blaming the policymakers

The current financial crisis will make it even harder for Fed Chairman Bernanke to keep his job post election

Fund managers everywhere have been hurt by the hail of bullets: sub-prime, higher volatility, emerging markets falling apart, oil up then down, financials down then up. Some are mortally wounded. It is not only market folks we have to think about. Policymakers too are subject to a similarly challenging environment. With so many dead and wounded, heads will roll on the policy side as well. After all, if Citigroup had to eject Chuck Prince to protect the integrity of the firm, would it really be so surprising if some central bankers stepped down in order to protect the independence of the...