Public Servants
An unimpeachably correct sub-head at WaPo caught my eye, and I hope you readers will enjoy it as much as I do.
Bernanke Endorses Expanded Authority
New Tools Needed To Avert Crises, Fed Chairman Says
Those new Tools are welcome, they could hardly be worse than the old tools, such as Alan Greenspan. New public servants who are not tools would be much more welcome, and useful.
Predictably, the successor to Greenspan is trying to divert attention from the fact that regulations were in place to regulate mortgage lending, and grading of investment vehicles. Alan Greenspan decided that the crisis would not come about because the crash would be widespread, and dispersed enough that it would not affect those 'underlying fundamentals' that our worst administration ever were claiming to be sound.
Now Bernanke is joining the outcry, that new regulations are needed. Of course, this is a farce. New tools are needed, indeed, but this time how about a new administration, giving us real public servants, honestly using the regulations they have.
My comment at the WaPo editorial deploring the financial crisis, and calling for those new rules to replace the ones we already have:
jocabel wrote:
The regulations were in place and Alan Greenspan admitted he refrained from demanding stricter lending standards enforcement because he thought that a collapse would be distributed widely, and not happen all at once. What we need are honest public servants in high office.
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Yesterday, I called attention to a discussion being held today, at 1 ET, on columns written by Ruth Marcus, and particularly asked a question on it about her ignoring John McCain's taking out a campaign loan on false grounds that he would use public financing.
Today, Marcus writes a column on a Gitmo detainee and fairly cites a statement John McCain has made that is totally wrong. She also asks for justice, and I want to give her credit for that.
The question about her ignoring facts about John McCain was submitted, by the way. I will look to see if it's included.
Bernanke Endorses Expanded Authority
New Tools Needed To Avert Crises, Fed Chairman Says
Those new Tools are welcome, they could hardly be worse than the old tools, such as Alan Greenspan. New public servants who are not tools would be much more welcome, and useful.
Predictably, the successor to Greenspan is trying to divert attention from the fact that regulations were in place to regulate mortgage lending, and grading of investment vehicles. Alan Greenspan decided that the crisis would not come about because the crash would be widespread, and dispersed enough that it would not affect those 'underlying fundamentals' that our worst administration ever were claiming to be sound.
Now Bernanke is joining the outcry, that new regulations are needed. Of course, this is a farce. New tools are needed, indeed, but this time how about a new administration, giving us real public servants, honestly using the regulations they have.
My comment at the WaPo editorial deploring the financial crisis, and calling for those new rules to replace the ones we already have:
jocabel wrote:
The regulations were in place and Alan Greenspan admitted he refrained from demanding stricter lending standards enforcement because he thought that a collapse would be distributed widely, and not happen all at once. What we need are honest public servants in high office.
*********************************************************
Yesterday, I called attention to a discussion being held today, at 1 ET, on columns written by Ruth Marcus, and particularly asked a question on it about her ignoring John McCain's taking out a campaign loan on false grounds that he would use public financing.
Today, Marcus writes a column on a Gitmo detainee and fairly cites a statement John McCain has made that is totally wrong. She also asks for justice, and I want to give her credit for that.
Sen. McCain, you called the Supreme Court's recent Guantanamo ruling, which gives Parhat and other detainees the chance to make their case directly to a federal judge, "one of the worst decisions in the history of this country." As someone who spent so long in captivity, could you tell Parhat why it would have been so terrible to let a court hear his case -- years ago?
(snip)
And Mr. President, Parhat once imagined that America would help the Uighurs, a group your own State Department says has been subjected to "official repression" by the Chinese government. Could you tell him that America has treated him fairly?
If not -- and it's hard to see how you could -- please find a way, before you leave office, to let him go.
The question about her ignoring facts about John McCain was submitted, by the way. I will look to see if it's included.
Labels: Appointments from Hell, Bush Legacy, Credit Crunch, Cronyism, Republican Lying
posted by Ruth at 9:00 AM
2 Comments:
I read somewhere that the lending standards were being set by the doj under some obscure 1864 banking law, and that Eliot Spitzer was to appear before congress about this matter when he got popped. There is supposedly some letter signed by a bunch of attorneys general (both d and r) complaining about the federal subversion of state lending practices. And I wouldn't believe a word that bernanke said. If he wants regulation of any form, it's to keep the little guy from suing his big guy friends. The congress stripped regulation during clinton, and the fed and the s.e.c. have rolled over for their pals for the last 7 years. Bernanke recently stopped publishing data of foreign investment in the U.S., after halting publishing of the M-3 data. This is a totally off-books government and economy, and bernanke's part of it.
Way to go, Ruth! "New tools" indeed. Today Congress is fixing to give the Worst Administration in History a "new tool" which not only absolves them for past lawbreaking but allows them to continue to do so with utter impunity. New Tools are Fun!
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