Ben Bernanke named Time’s Person of the Year 2009

December 17th, 2009 by — Ben Bernanke was named Time’s Person of the Year and the announcement was made live on the Today show this morning. Matt Lauer and Meredith Viera were anxiously awaiting the unveiling of the honor and display of the upcoming Time magazine cover featuring Bernanke. Joining them on the set and making the announcement live was TIME Managing Editor Richard Stengel.

In the running were Steve Jobs, President Obama, and Nancy Pelosi, but ultimately it was Ben Bernanke who was selected. Richard Stengel said that first runner up was General Stanley McChrystal. Ben Bernanke is the Chairman of the Federal Reserve, an institution which Stengel referred to as, “…the most powerful, least understood government force shaping our lives.”

The influence and power that Ben Bernanke has on the lives of American citizens is without precedent. He is credited with saving the nation from slipping into a full-blown recession.

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