Bush's Big Economic Pick Is Next Fed Chief

[Khephra]

WASHINGTON -- While President Bush is busy putting together his Cabinet for a second term, the financial world's attention is on a job vacancy 14 months away: Who will succeed Federal Reserve Chairman Alan Greenspan?

It might seem daunting to follow a legend like Greenspan, now in his 18th year in the job. Yet there seem to be plenty of people who would like to do it.

The list of candidates being talked about in Washington and on Wall Street is half what it was before the Nov. 2 election, when prominent Democrats such as former Treasury Secretary Robert Rubin were considered hot prospects had Massachusetts Sen. John Kerry won the White House.

With Bush's re-election, the focus is on Republicans. Candidates include Harvard economics professor Martin Feldstein, chairman of the Council of Economic Advisers during the Reagan administration; Columbia University professor Glenn Hubbard, who was Bush's first CEA chairman; Treasury Undersecretary John Taylor; and Federal Reserve board member Ben Bernanke.

more..............

http://www.newsday.com/business/nationworld/wire/sns-ap-after-greenspan,0,565081.story?coll=sns-ap-business-headlines

[Fovea]

1. What? Not Kenny Lay?

Why not? Bush has is fresh from his 'man-date' and rearing for action.

[livinbella]

3. Why not? Kenny Lay is the man!

That fucker fits right in.
Why waste time?
Kenny Lay should jointly
hold the position of head of the SEC
while he is at it.
Why fuck around?

[Turbineguy]

2. Well, what about

Jerry Falwell, he seems to be good at collecting money for his ministry, maybe he can get the fundies to cough up enough dough to cover Bush's deficit.

[Straight Shooter]

4. Why not Pat Robertson?

I hear he has the "golden touch" when it comes to money *snicker*

[snippy]

5. I think Cheney will handle this appointment. n/t

[UpInArms]

6. my votes on Bernanke since he is the most radical

person on that list

http://www.federalreserve.gov/boarddocs/speeches/2002/20021121/default.htm

Remarks by Governor Ben S. Bernanke
Before the National Economists Club, Washington, D.C.
November 21, 2002

excerpt:

What has this got to do with monetary policy? Like gold, U.S. dollars have value only to the extent that they are strictly limited in supply. But the U.S. government has a technology, called a printing press (or, today, its electronic equivalent), that allows it to produce as many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S. dollars in circulation, or even by credibly threatening to do so, the U.S. government can also reduce the value of a dollar in terms of goods and services, which is equivalent to raising the prices in dollars of those goods and services. We conclude that, under a paper-money system, a determined government can always generate higher spending and hence positive inflation.

...more at link...

[54anickel]

9. NOOOooo!!! Not Ben, pressman Bernanke!...n/t

[MaryBear]

13. This hearkens back to LBJ

printing money to finance the Viet Nam War, and throwing our economy into an extended very bad time.

I keep wondering if any of these folks have paid any attention to history.

[Demeter]

7. I Suggest Thurow, or Robert Reich, or Paul Krugman

somebody with a heart and a brain and credentials.

[barb162]

15. these guys have cajones to tell Bush off. zero chance

[hatrack]

8. A Man-Date demands a Man-kiw!!

There's no time like the present to nominate Gregory Mankiw to the post.

He is, after all, the guy who suggested that perhaps fast-food jobs should be reclassified as manufacturing jobs. After all, fast-food workers are combining inputs into a finished product, you see.

I can't think of a more appropriate choice to serve as seneschal of the Castle of Bullshit.

[KoKo]

10. Oh yeah....he has a stable of idiot Doofus'es at this command and he will

pick the worst...the one who is the biggest YES MAN to him self and the Kudlow Supply Siders ready to send America into the hell hole!

Bring Em on Mr. Chimpy....let's see what perverted idiot you will come up with next...Hey....maybe pick someone outside the financial community altogether...like TOM RIDGE! Go get 'em boy...we are hanging on your every pronouncement waiting with pants to see which person is still out there who's so loyal to you that you can "pop" into that position...

[PurityOfEssence]

11. How about Michael Milken, Andy Fastow, Mike Tyson, David Copperfield

There are many possibilities. Too bad Koresh and Jim Jones are gone; maybe Reverend Moon could step up to the plate. There's always Slot-boy Bill Bennett, he might be able to straighten this out...

Hey, he could always get John Edward and have him channel Louis XVI or King Farouk.

[barb162]

12. how about his new dog

[VegasWolf]

14. What about Tom Ridge, he did such a great job with Homeland!