Ben Bernanke Should Resign

The role of chairman of the Federal Reserve Bank ought to involve trust. The public has bestowed control over the nation's money supply to private, profit seeking institutions, the nation's commercial banks, who own the Fed. However, the federal government has retained the power to appoint the Fed officials who control our money supply.

By nature of its ownership structure the Fed poses a threat to the public welfare. The Fed has abused this trust for more than seventy years and should be abolished.

Support to private investment banking interests, such as Bear Stearns, who have performed incompetently, made bad investments and so deserve to be declared bankrupt does not serve the public interest and is evidence of abuse of the public's trust.

Mr. Bernanke has proven that he is morally unfit to serve as the chairman of the nation's most important fiduciary institution. He ought to resign or be removed.