That 70's Show
If you missed it, be sure to read this op-ed by Allan Meltzer.
During the next few months, Obama is going to have to make a decision about whether to keep Bernanke on for another term. I think doing so would be a terrible mistake. Of course Bernanke might not even want the job; leafy Nassau Street must look pretty nice after the past few years. And since Congress inexplicably and shamefully hasn't restricted the bailout principals from cashing in on Wall Street, he's got that going for him.
During the next few months, Obama is going to have to make a decision about whether to keep Bernanke on for another term. I think doing so would be a terrible mistake. Of course Bernanke might not even want the job; leafy Nassau Street must look pretty nice after the past few years. And since Congress inexplicably and shamefully hasn't restricted the bailout principals from cashing in on Wall Street, he's got that going for him.
posted by The Cunning Realist at Tuesday, May 05, 2009
7 Comments:
http://krugman.blogs.nytimes.com/2009/05/04/a-history-lesson-for-alan-meltzer/
"But it isn't just the banks. Agribusiness is protecting its obscene subsidies. The insurance companies are deploying legions of lobbyists to gut the public plan in health care reform, the heart of the Obama plan. The utilities are carving out exceptions for coal plants. Multinationals are clearly on way to disemboweling Obama tax proposals. The military industrial lobby is a good bet to frustrate DOD Secretary Gates modest procurement reforms."Corruption Is Dangerous to Your HealthIf we don't get a handle on this, and Wall Street doesn't tone down the corruption, it's going to be much worse than the 70's. We have let too many things deteriorate and the fringe and monied have poisoned the public marketplace of ideas and civil discourse. Our greatness was in our newness. We have to find the will to do right.
Not sure why Bernanke would want to stay in the first place.
Why would anyone want to stay in the crosshairs, especially with far worse problems coming up?
Bernanke will plead to get out. Wouldn't you? After giving the Pigmen everything they wanted, except he was a bit late on the massive open market ops, he has been called a liar by Paulson.
Did you ever see the movie Godzilla vs Bambi? Bernanke is Bambi. He is in a no win situation, just like Geithner. Clerks who can be and will be thrown under the bus when necessary. And they didn't even cash in. Schmucks.
I must admit I’m loving the little catfight between Meltzer and Krugman. Inflation vs. deflation debate between Allan Meltzer and Paul Krugman is a rather interesting and insightful. Allan Meltzer says inflation is our greatest threat and I'm agree with him. Meltzer’s warning remains relevant.
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Thanks for the article its a great American show i watch it daily if i miss it then watch it online.
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