Time Names Ben Bernanke Person of the YearS

Managing editor Rick Stengel announced, on the Today Show, that the Federal Reserve chairman gets the nod. He Noted that Bernanke led "the most powerful, least understood government force shaping our lives."

Here's the announcement, and some of Stengel's rationale. The magazine, essentially, feels that he stopped a recession becoming a depression. It comes the day before a Senate committee vote on whether Bernanke deserves a second term. The article itself is here.

Visit msnbc.com for breaking news, world news, and news about the economy