Bernanke Halted the Wipeout By Jim Cramer About this article: Ben's back! Hey, it wasn't such a given, especially on the day when we had the jaw-dropping appointment of Denis Hughes, the president of the New York AFL-CIO, named as chairman of the New York Federal Reserve. When the smoke is cleared you know that Ben Bernanke and not any other official before or after is going to be credited with recognizing what Lehman was and stood for. Bernanke was recessive and complacent pre-Lehman. He presided over an important debating society. He measured things and kicked them around. He almost destroyed us. But almost doesn't matter. When the chances were in front of us that could have wiped our financial world out -- the nationalization of banks, a collapse of Goldman Sachs, Morgan Stanley and JPMorgan Chase, you name it -- he recognized that we were in extreme deflation and that we could all be brought down by... Or, call us at 1-866-321-TSCM (8726) Monday-Friday, 8 a.m.-6 p.m. ET. Outside the U.S. and in Canada, call 1-212-321-5200.

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