August 31, 2009

Politics? There's no politics in monetary policy!

Money is the root of all evil. Or maybe it's just the shady people who control and manipulate it to the detriment of the middle-class.

I honestly can't decide which is worse. Appointing Ben Bernanke as the Federal Reserve chairman again, even though he denied there was a housing market bubble that could lead our country into a recession.  Or keeping Timothy Geithner as Treasury Secretary, even though he opposes political involvement in monetary policy.

So when Geithner goes to Congress encouraging those politicos to vote on having the government seize control over large insurers, banks, auto manufacturers, hedge funds, speculators, etc..., that was strictly monetary policy. Apparently it also isn't political involvement to ask our nation's taxpayers (once again via Congress) to raise the debt ceiling to cover massive bi-partisan spending failures. Nope, no politics involved in government power grabs and government spending.

Geithner is just another shady asshat. Political decisions and political purse-strings are what shape monetary policy - it isn't mutually exclusive. That is just wishful thinking on his part to dismiss the suggestion that there be an audit of the Fed.

Posted by: conservativebelle at 04:32 PM | Comments (3) | Add Comment
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