Republicans in the Senate refuse to appoint MIT Prof, Nobel Prize winner, to the Fed Res board.

Time and time again I have seen those who hate Obama point out that he kept the same people in charge of the fed res as GW, as proof that Obama is no different than GW, but here we have Obama trying to get new blood into the fed res, and republicans in the senate block the appointment.

www.allgov.com... 08

Think about it. Diamond is the winner of a Nobel Prize in economics and a professor at MIT. He is as qualified as anyone who has been appointed to the Fed. In case nobody noticed, we’re in the middle of an economic crisis. The Fed is central to getting us out. Yet the president can’t even get his appointee to the Fed confirmed. Diamond withdrew his name this week after a fight that lasted more than a year.

reply to post by poet1b


I would hazard that this guy is eminently qualified to be on the board of the fed.
However since he's not a good ol boy he won't be appointed.
And he'd probably uncover all the shenanigans going on.

reply to post by grey580


Yeah, at what point in time do the people who support the republicans and the free market face the reality that the people they support created our current economic collapse?

Clearly the fed res needs to be taken in a new direction, but that isn't going to happen until they get new people on the board that governs the Fed Res.

I haven't been following this. Can anyone tell me what the arguement was for not wanting him on the board?

reply to post by Becoming


The reason given is that he wasn't experience enough with monetary policy.

Which basically sounds like, "no outsiders allowed".

Tried to read up on it but the link errors out. Always two sides to every story.

I'd come up with any reason I could to keep somebody out of the federal reserve.

Why appoint somebody to head an institution you want to die?

Or I'd appoint a complete imbecile just to run it into the ground one final time.

the nobel prise was cheapen when they gave it to obama, so that dosen't mean much
and does he have any real world enperence or just classroom?

meh all i see is the some old left right paradigm this way Obama can look like he's trying while the other side can say they are keeping the risks down by not allowing a inexperienced person to take over. Kinda win win for TPTB while we keep getting screwed. Fact is Obama could find someone who would make a real difference and meet their requirements but he wont because he's a pawn for TPTB.

The moment I read of Paul Krugman defending Diamond I knew he shouldn't be anywhere near monetary policy. Turns out I was right:

charlesrowley.wordpress.com...

Originally posted by poet1b
reply to post by grey580

 

Yeah, at what point in time do the people who support the republicans and the free market face the reality that the people they support created our current economic collapse?

Wrong. Government meddling in the housing market led by Democrats social engineering caused the economic collapse

Originally posted by poet1b
reply to post by Becoming

 

The reason given is that he wasn't experience enough with monetary policy.

Which basically sounds like, "no outsiders allowed".

Ok then, is he experienced enough with monetary policy?

I know nothing about him. Did he have any real world experience or was it all classroom? You may see it as a "no outsiders allowed" arguement, but do we really want someone on the board who has only taught and never applied?

reply to post by Becoming


This nominee (former nominee) is a Keynesian economist who supports the idea of tying United States Government fiscal policy to the independent Central banks monetary policy; thus in one fell swoop engendering a more direct means for the Fed to set governmental controls. I disagree that he is a suitable candidate for such an appointment.

But know this: NO APPOINTEE to the Fed is EVER taken from outside the FED's OWN LIST OF candidates... EVER.

Not one.

The Fed gives a list of acceptable candidates which tells the President who he "is allowed" to recommend.... that is all; the president chooses FROM THAT LIST.

It's in the charter.

You won't see an Austrian economics proponent on it ... at least not at this point.

This is not political... it is never political. Democrats and Republican brands of the party alike... all bow to the Fed.

appoint ron paul to the fed!!!

thats someone who wont bow down to them

doesnt take a nobel peace prize winner that knows you cant spend what you dont have.,

So in essence, you all are locked step in step with current fed reserve oversight and management.

You see no need for change?

Let's continue with failed policies, until the very end?

Being that you are so enamored with the current status quo, stop blaming Obama for that which he can not change.

Personally, I see the whole system self destructing, and I say good riddance. We will all be better off.

Originally posted by poet1b
Time and time again I have seen those who hate Obama point out that he kept the same people in charge of the fed res as GW, as proof that Obama is no different than GW, but here we have Obama trying to get new blood into the fed res, and republicans in the senate block the appointment.

www.allgov.com... 08

Think about it. Diamond is the winner of a Nobel Prize in economics and a professor at MIT. He is as qualified as anyone who has been appointed to the Fed. In case nobody noticed, we’re in the middle of an economic crisis. The Fed is central to getting us out. Yet the president can’t even get his appointee to the Fed confirmed. Diamond withdrew his name this week after a fight that lasted more than a year.

Link doesn't work.

Originally posted by poet1b
reply to post by Becoming

 

The reason given is that he wasn't experience enough with monetary policy.

Which basically sounds like, "no outsiders allowed".

You mean he's not a Jew puppet?

Originally posted by UcDat
meh all i see is the some old left right paradigm this way Obama can look like he's trying while the other side can say they are keeping the risks down by not allowing a inexperienced person to take over. Kinda win win for TPTB while we keep getting screwed. Fact is Obama could find someone who would make a real difference and meet their requirements but he wont because he's a pawn for TPTB.

edit on 8-6-2011 by UcDat because: (no reason given)

OP is a fool for thinking Obama is actually trying to change the system but gosh darn... those damn Republicans won't let him.

Just look at his Cabinet members and it shows Obama is owned by the bankers, Wall St., oil companies, and lobbyist like all the other Modern Persidents. No but Obama is really trying to change the system but the Republicans won't let him. Puahahahahahahahahaha!!!!!!

He's a liar and people like OP eat it up...


Tell me OP what has he done? All lies!!!!!!!

reply to post by poet1b


if most of us had our way

wed drop a moab on the federal reserve.

reply to post by poet1b

... but here we have Obama trying to get new blood into the fed res, and republicans in the senate block the appointment.

Which is precisely the problem, he is "new blood". The Fed Res. was created by the "good old boy" network, and maintained by them. They don't want new blood anymore than they want Ron Paul auditing them.