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...this willingness to explain policies and chat with Congress about them hasn't endeared Bernanke and the Fed to all its members. Far from it. After thanking Bernanke in his opening remarks, Bachus - the ranking Republican on the committee - went on to complain that the Fed had taken on too much authority and should restrict itself in the future to setting monetary policy. Texas Republican Ron Paul, whose calls to abolish the Fed have gotten more attention lately than they used to, claimed that "the Federal Reserve, in collaboration with giant banks, has created the greatest financial crisis ever seen...

Author: /time Magazine | Title: Bernanke Defends Fed's Actions Before Congress | 7/21/2009 | See Source »

...surprisingly, then, Bernanke's testimony went well beyond the usual Humphrey-Hawkins report on how the Fed is doing in meeting its two congressionally mandated goals of maintaining stable prices and full employment (fine on the first, not so fine on the second) to defend the Fed against the rising tide of criticism in Congress. (Read "The Fed Holds Steady: Mixed Signals on the Economy...

Author: /time Magazine | Title: Bernanke Defends Fed's Actions Before Congress | 7/21/2009 | See Source »

...economic and social reforms. Before he became Prime Minister in 1996, Australia's Howard had been turfed out as leader of his own party, and when asked if he might ever lead it again, he said such an event would be like "Lazarus with a triple bypass." Howard then went on to win four general elections...

Author: /time Magazine | Title: No Charisma? Don't Worry, You Can Still Be a Leader | 7/20/2009 | See Source »

...favorite example of leadership as responsibility is a memo that was never sent. The day before the D-day landings in 1944, Dwight Eisenhower--not much obvious charisma there--sat down and wrote a short message that would be made public in the event that the next day went horribly wrong. "Our landings in the Cherbourg-Havre area have failed to gain a satisfactory foothold," Ike wrote, "and I have withdrawn the troops. My decision to attack at this time and place was based upon the best information available. The troops, the air and the navy did all that bravery...

Author: /time Magazine | Title: No Charisma? Don't Worry, You Can Still Be a Leader | 7/20/2009 | See Source »

...went to Omaha. [It was] pretty far away and not much to do there,” Leblanc said. “[But] it was a good stepping stone to college hockey—the highest level of hockey I’ve played...

Author: By Jake I. Fisher, CRIMSON STAFF WRITER | Title: NHL First-Round Pick Leblanc Harvard Bound | 7/20/2009 | See Source »

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