Priorities
To those who are passionate about healthcare reform and despondent about its current status, it must seem odd that 1) Obama apparently has been willing to get more involved personally in saving his nomination for Fed chairman than in saving healthcare, and 2) Harry Reid and Senate Democrats have a newfound mastery of Washington's pesky procedural impediments.
During the past few weeks, even some of the most ardent defenders of Bernanke and the Fed have admitted that overwhelming bipartisan support is important for effective monetary policy. By their own standard, the implications of a confirmation vote squeaker are clear. But maybe 51 is the new 99.
Check back to see a list of those who voted for accountability and change, and those who should be ashamed of themselves.
During the past few weeks, even some of the most ardent defenders of Bernanke and the Fed have admitted that overwhelming bipartisan support is important for effective monetary policy. By their own standard, the implications of a confirmation vote squeaker are clear. But maybe 51 is the new 99.
Check back to see a list of those who voted for accountability and change, and those who should be ashamed of themselves.
posted by The Cunning Realist at Wednesday, January 27, 2010
9 Comments:
CR,
Who do you recommend for the Fed?
I know you asked CR and not me, but I would be fine with Joeseph Stiglitz, who has said he would accept the job if offered.
Word is that Obama found his copy of "The Idiot's Guide to Congressional Procedure" while he was rummaging around in that one desk drawer where he sticks odds & ends. Then he phoned Reid, and they both managed to get in a quick skim just before the Bernanke appointment came up.
-- sglover
You'll never hear any of these proponents of the "independence of the Fed" (they never cease to mention their talking point on the financial news shows), never acknowledge that the rules changed when Bernanke started buying up trillions of toxic waste instead of treasuries, deciding that investment banks should be allowed to borrow at .5% (and then lend back the same money to USG at 3.5%) or bailing out GS via AIG.
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