In the interest of seeming 'tough on the fat cats' the most economically illiterate portion of the Senate is making noise about not confirming Ben Bernanke as Fed Chairman. I've been critical of him too, and I think there are good reasons to be critical of him, but these people don't know any of them.
Barbara Boxer is upset about monetary policy? Spare me. She neither knows nor cares how monetary policy impacts Americans or the American economy... that's not how she processes things. Even Ron Paul, who in general I agree with, is a Congressman not a Senator so he isn't actually part of this vote - and I think he's really desperately off the mark when it comes to Bernanke.
I could go on and on about the intricacies of the monetarist school and relay some of the more terrifying choices that Obama might make in place of Bernanke, but there is really no point. All this is just posturing by the economic illiterates in the Senate, designed to make the rubes believe that they're tougher or smarter than they really are. They are trying to be populist, but in the end they don't know what they're talking about. So they'll confirm him "reluctantly... and with great reservation" as if they pondered all the serious questions and now see him as the least bad choice.
In reality it's all posing. All of it. And it fills me with an urge to tell them to shut their pie holes and confirm him. I have neither the time nor inclination to listen to them pretending that they know what they're talking about when it's so painfully, embarrassingly obvious that they don't. There are a lot of potentially very scary things that can come from the Fed, and Bernanke is the only guy within reach who even has a shot of keeping a lid on them. So please just cut the crap, make your vote, and save the populist nonsense for campaign trail... you f'ing idiots.
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