Sunday, January 24, 2010
Plutocrats Be Them
The web is all atwitter with the Bernankey vote coming up and the possibility that he might not be confirmed for another term as head of the Fed. Although the administration now appears to be pulling out all the stops to make sure he's confirmed. Much like they did with Coakley (although I would suspect that the Senate is more easily swayed than Massachusetts). It is interesting that they are more than willing to spend political capital on a guy who was oblivious to the disaster that was Wall Street and the American economy in 2007 and 08, than to a person who might in fact be a competent leader of Homeland security or various real regulators that they can't seem to get through the confirmation process.
Of course the guy also made clear that he is more interested in keeping inflation down now than encouraging job creation now. This would of course be the very guy a democrat would want as head of the Fed in the face of massive unemployment.
HCR is another issue that makes me mostly incoherent much like torture. The issue here (like torture) is that I cannot for the life of me figure out what the people in power are thinking. Now they are apparently floating yet another trial balloon that if they cut the benefits even more (in this case making sure only children's pre-existing conditions are covered) and perhaps somewhat fewer than half of the originally stated 31 million will be covered, that will make the bill more palatable. Too who do you think?
What a concept: Make it worse so that even fewer people like it and it helps even fewer people --- that's the ticket!
Who would have thought that we were voting between a republican and a republican lite in the last election (although to be honest, I no longer know which one the "lite" was. To go a little farther, I can't believe that I can only hope that a guy I actually worked for (a little) and voted for fails in all his major legislative endeavors. Before his first State of the Union he has shown himself to be in the pocket of the plutocrats who it turns out really do rule this country no matter what the majority of us want.