“Victory” for Bipartisanship
Posted by Jeff Pruitt - 1/29/10 @ 11:31 am - Filed Under National Politics
During Obama’s State of the Union address I continued to chuckle every time he mentioned working together or bipartisanship. This utopian dream of both parties singing kumbaya as they solve the country’s problems is pure fantasyland I said. But alas, within 48 hours I was reminded that both parties can work together. See, what I should’ve remembered is that anything both parties agree on is probably terrible for the country as a whole and that is the type of decision they are most likely to make.
I really am starting to believe that if both parties can’t agree on something then it’s probably something worth considering and vice-versa. It’s kind of like this scene from Seinfeld where George decides that every decision he’s ever made has been wrong and he’s going to do the opposite from now on:
The bipartisanship I’m speaking of is the renomination of Ben Bernanke which passed the Senate yesterday by a vote of 70-30. Nobody in a position of authority now was more responsible for the financial crisis than he was. The Federal Reserve, and Bernanke in particular, was the last to understand the depth and breadth of the current crisis. How anyone could take this guy seriously after his embarrassing failures is beyond me. And what’s more is that he (like Treasury Secretary Tim Geithner) doesn’t even acknowledge that he had any part in the financial crisis.
As long as Bernanke is in charge there can be no serious reform of the financial industry and what this means is that you can bet your life that there will be another disastrous meltdown directly attributable to his failures. But hey, as least our politicians worked together to pass some legislation - Obama must be so proud…
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Jeff, how about nominating the Soup Nazi for the Fed as the opposite of Bernanke? Seriously, who would they find that would do things differently, when the whole Obama team and Congress is on board with zero overnight rates and inflating the next bubble?