Tell Senator Bayh that Bernanke Should Get the Boot
Fed Chairman Ben Bernanke will be in front of the Senate Banking committee this Thursday for a vote on his reappointment. Senator Evan Bayh is a member of this committee and I would encourage EVERYONE to call the Senator’s office [(260) 426-3151 Ft Wayne; (202) 224-5623 DC] and ask him to vote NO on Bernanke’s reappointment.
There’s a movement growing within the econosphere to try and give Bernanke the boot. He, and the federal reserve in general, was the chief enabler of our financial meltdown and didn’t see any of the problems he had created until it was far too late. Here’s what Yves Smith from Naked Capitalism had to say:
When CEOs preside over disasters, they are fired. Captains go down with their ships. And Bernanke needs to be replaced.
- He was a major architect of the policies that created the crisis.
- He ignored signs of the severity of the developing crisis and failed to prepare for obvious dangers, like the collapse of an investment bank.
- He has turned the Fed into an off-balance sheet funding vehicle of the Treasury to circumvent constitutionally-mandated budgetary procedures.
- He has fought all efforts to examine the central bank’s conduct in the rescue operation.
- Before, during, and after the crisis, he has put the interests of banks ahead of those of ordinary citizens.
He needs to go.
If you need more reasons then just watch this video and laugh at how inept Bernanke was throughout this crisis. I guess only the Very Serious People are rewarded when they are wrong 100% of the time.
FWCS Balanced Scorecard Results
I wanted to highlight a post Evert Mol made over at Code Blue Schools regarding Fort Wayne Community Schools balance scorecard results. The new balanced scorecard put together by last year’s school board was a step in the right direction and allows for some level of quantitative analysis to determine how the district is performing.
As I’m sure everybody already knows the district has been facing declining ISTEP scores for several years now and the latest results from the new balanced scorecard are not pretty. The only positive is that K-3 literacy scores improved which is very important and a step in the right direction. But the district either lost ground or failed to meet the target in nearly every other meaningful category. Not good.
And just for a little humor here is Evert’s comment pertaining to the district’s creative use of arrows on their balance scorecard:
Read more
