BO really disappoints with this one. No one from the Fed should be considered for Treasury after the Fed�s poor track record. It was the Fed that pushed and pushed for US support of the Basel II capital accords, which would have allowed banks' capital ratios to drop precipitously, which would have led to even more bank failures. Don�t even get me started about the Fed�s failures that led to the housing-driven recession. And there are still abuses at fed-regulated credit card banks. (maybe we shouldn�t say regulated, if the fed actually regulated maybe the abuses would stop.) No, the fed�s performance has been pretty abysmal.

Jesse Jackson for Press Secretary....

Jesse Jackson? He might forget that the mic is still on.

Obama�s brazenness in nominating Gaithner, the head of the New York Federal Reserve (its nerve center), for Treasury secretary, appalls me to the point of apoplexy. It�s just like making the president of a drug firm head of the FDA � or, even more blatant, a pusher the administrator of a rehab facility. The American people voted Obama in, and they�ll get exactly what they deserve; but those who didn�t, have to live with it.
The report made the Dow rocket up like a withdrawing addict�s rush when finally getting yet another fix. Don�t people understand where we�re headed with all this economic rot and endless bailouts? Complete doom of bondage threatens unless we repent: loss of prosperity and sovereignty. Lame-duck Bush already made U.S. monetary policy even more completely subservient to internationalists at the Big Twenty meeting he attended last week, yoking the dollar with the euro. Something like Keynes� �bancor� global currency seems not to be far off. Then, internationalists can inflate everything to oblivion without popular recourse, because power will be abstracted to institutional levels that aren�t electorally accountable.