Federal Reserve Chairman Ben Bernanke deserves to be reappointed, because he did a great job in saving the US banking system from collapsing, Jack Welch, author of "Winning" and "Straight from the Gut," told CNBC Thursday.
"I think he saved the system, I think he's a national hero," Welch said. "I think Bernanke seems to be a guy operating on a clear intellectual framework. This guy's done a hell of a good job."
The financial system overhaul proposed by the Obama administration risks politicizing the Federal Reserve, and the government should focus on regulating behavior rather than overhauling the whole economy to prevent a future economic crisis from taking hold, he added.