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WHERE POLITICS AND FINANCES
THIS IS THE EDITORIAL FROM "THE
FINANCIAL TIMES."
THIS IS SOMETHING THAT
REALLY IS PERSONALLY AND
ANNOYING TO ME BECAUSE WE WOULD
MIX THE FED UP IN THESE
POLITICS.
ECONOMICS.
THE MAN IS A NOBLE LAUREATE IN
THE HEAD OF THE BANKING
COMMITTEE HAD THE AUDACITY TO
SAY HE WAS NOT QUALIFIED TO DO
THE JOB, GIVEN THE --
HIS
SPECIALTIES ARE DOING THESE VERY
ISSUES.
IT IS LEAVING THE STAFF -- THE
FED SHORT-STAFFED BECAUSE OF THE
POLITICAL GAMESMANSHIP ON BOTH
SIDES OF THE AISLE.
IT HAPPENED DURING THE BUSH
ADMINISTRATION, AND IT HAPPENED
DURING THE OBAMA ADMINISTRATION.
BOTH SIDES ARE EQUALLY GUILTY ON
THIS.
IT IS RIDICULOUS WHEN THE FED IS
PLANNING SUCH A CRITICAL ROLE IN
STABILIZING FINANCIAL MARKETS.
WHY ARE ASKING THEM TO BE THE
LENDER OF LAST RESORT, -- WE ARE
ASKING THEM TO BE THE LENDER OF
LAST RESORT, AND WE ARE ASKING
THEM TO FILL ROLES THEY NEVER
EXPECTED TO PLAY IN THE GLOBAL
AND U.S. ECONOMY, AND TO NOT
REPREHENSIBLE.
STAFFED THEM APPROPRIATELY IS
IF I DO NOT UNDERSTAND THE
POLITICS ON BOTH SIDES OF THE
AISLE THAT YOU WOULD HOLD UP
SUCH IMPORTANT APPOINTMENTS OF
PEOPLE THAT WERE VERY QUALIFIED.
UNDER THE BUSH ADMINISTRATION, A
GOOD FRIEND OF MINE FROM THE
UNIVERSITY OF CHICAGO HAD TO
LEAVE BECAUSE HE COULD NOT GET
REAPPOINTED.
PETER DIAMOND, VERY INFLUENTIAL,
IS RIDICULOUS THEY WOULD HOLD NO
NO NO APPOINT QUALIFIED PEOPLE.
-- HOLD THAT UP, AND NOT
APPOINT QUALIFIED PEOPLE.