Bernanke's term expires soon: Will Obama replace him?

Although there are still several months remaining before Federal Reserve Chairman Benjamin Bernanke's term expires, the debate about whether or not President Obama will replace him is already heating up. One Fed insider has stated that "the vultures are circling," though it seems likely that Bernanke will not be replaced next year.

To begin with, there is the fact that Bernanke has done a pretty good job. At a time when pundits and analysts were decrying the end of capitalism and the destruction of the American way of life, his quiet, steady demeanor and talk of "green shoots" established a level of confidence that was sorely needed. When Bernanke said that America's largest banks were not going to fail, investors and taxpayers believed him.