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sabra Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 11:53 AM
Original message
Markets worry loyalty to guide Bush in Fed choice

http://today.reuters.com/investing/financeArticle.aspx?...

Markets worry loyalty to guide Bush in Fed choice

WASHINGTON, Oct 19 (Reuters) - Controversy over the pick of Harriet Miers -- the White House counsel and President George W. Bush's onetime personal lawyer -- for the Supreme Court has stirred concerns on Wall Street that loyalty may trump expertise in the pick of a new Federal Reserve chief.

With Fed Chairman Alan Greenspan due to to step down at the end of January, cartoonist Tom Toles captured the angst by showing a cleaning lady bursting through the Fed's door: "Now who's this Alan Greenspan fellow who I'm replacing?" And bloggers joke about headlines saying, "Bush picks own accountant to replace Fed's Greenspan."

But some analysts think the heat Bush is taking over Miers and his weakened popularity make it all the more likely he will seek a Greenspan successor whose resume is above reproach.

Others note that Bush, whose approval rating sank to a low 39 percent in a USA Today/CNN/Gallup poll, often defies conventional wisdom and likes to name surprise candidates for high-profile jobs.


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phantom power Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 11:54 AM
Response to Original message
1. Yessir, it's all just fun and games until it hits the old pocketbook....
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TygrBright Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 11:57 AM
Response to Original message
2. So, what's sauce for the goose ISN'T...
sauce for the megacorporate gander?

Who knew?

wonderingly,
Bright
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Pirate Smile Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 11:58 AM
Response to Original message
3. Ha, this line made me LOL - yeah, like Bush learned after Brownie
not to do something stupid like pick his personal lawyer for the Supreme Court.

"But some analysts think the heat Bush is taking over Miers and his weakened popularity make it all the more likely he will seek a Greenspan successor whose resume is above reproach."

Bush doesn't LEARN from his mistakes because he doesn't acknowledge to himself or others that they WERE mistakes.
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BlueManDude Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 12:00 PM
Response to Original message
4. Ken Lay for Fed Chairman.
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UpInArms Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 12:08 PM
Response to Original message
5. Markets worry loyalty to guide Bush in Fed choice
http://today.reuters.com/PrinterFriendlyPopup.aspx?type...

WASHINGTON, Oct 19 (Reuters) - Controversy over the pick of Harriet Miers -- the White House counsel and President George W. Bush's onetime personal lawyer -- for the Supreme Court has stirred concerns on Wall Street that loyalty may trump expertise in the pick of a new Federal Reserve chief.

With Fed Chairman Alan Greenspan due to to step down at the end of January, cartoonist Tom Toles captured the angst by showing a cleaning lady bursting through the Fed's door: "Now who's this Alan Greenspan fellow who I'm replacing?" And bloggers joke about headlines saying, "Bush picks own accountant to replace Fed's Greenspan."

<snip>

"That's a generic rule. I don't know if it applies to Bush," he said. Gallagher noted Bush tapped Miers even with his political wounds still fresh from the poor performance during Hurricane Katrina of former Federal Emergency Management Agency chief Michael Brown, whom critics decried as a crony.

<snip>

Hubbard, a fiscal expert and architect of Bush's 2003 tax cut, has the closest ties to Bush, although Feldstein advised the president's 2000 campaign.

...more...
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liberal N proud Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 12:08 PM
Response to Reply #5
6. bu$h does not know he is politically wounded?
He thinks he is doing a fine job.
That would support the theory that you can't apply any logical rules when it comes to bu$h and his nominations.
The only rule that applies is; How is the nominee connected to the regime?
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leesa Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 12:24 PM
Response to Original message
7. Too bad. You put the fool in power.
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lanlady Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 12:27 PM
Response to Original message
8. and "some analysts" are nincompoops
"But some analysts think the heat Bush is taking over Miers and his weakened popularity make it all the more likely he will seek a Greenspan successor whose resume is above reproach."

They still fail to understand Dubya. He'll give them the Bronx cheer precisely because of the reaction to Miers.
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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Oct-19-05 05:59 PM
Response to Original message
9. fuckin liars!
they're not worried about bush's cronism.
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