Bush announced today that Greespan's successor will be Ben Bernanke. I personally think this is a fantastic announcement but for very personal reasons.
Ben Bernanke was chairman of the Princeton Economics department while I attended. Hopefully, being trained as a Princeton Economist under his watch will give me some insight to what he is thinking when he starts messing around with iterest rates. In reality, I'm sure this will mean very little to me but it still is a source of pride.
I never took a class with Professor Bernanke. Several of my friends did of course as he taught one of the introductory Economics course. It's funny. I remember people then talking about him maybe one day becoming Fed chair. I didn't think anything of it at the time but it is funny to see it come true. It makes me kind of wish I took better advantage of Princeton's very liberal open door policy for its professors. I wish I would have taken that opportunity to invite him to lunch and speak with him about his thoughts.