Paulson and Bernanke were also in on many of these decisions in a crisis setting.
Paulson knew that hew would be gone in a few months and executed some ideas in the meantime. I disagree with some of his decisions, including one or two blunders, but in general I think he really was trying to act in what he believed to be the country's best interests in a moment of crisis.
I think Helicopter Ben is still too focused on providing easy money to inflate bankers assets. However, even though I oppose his renomination, I have to acknowledge that he is getting nearly zero help from Congress and the Adminstration, which brings us to.....
TurboTax Timmy has had a full year now to move beyond crisis mode and prove that the very-banker friendly actions were just a necessary prelude to taking much more meaningful long-term reforms in the guiding principles and regulations governing the financial sector. He has proven himself to be completely incapable of doing this and continues to treat them as a favored, unique class instead of figuring out how to make them just another economic sector. By not executing any significant reform since joining Treasury, he has proven that his actions at the Fed were a reflection of his view of the world and truly indicate that he was in the bankers pocket instead of being an independent regulator and custodian of our money supply. He has clearly shown that he cannot be trusted to act in the public's best interests. He has to go.
↧