More bad news for the teabagger crowd: Earlier today, Federal Reserve Board nominee Peter Diamond won the Nobel Prize in Economics along with two of his colleagues. Yet, despite the fact that President Obama nominated this Nobel laureate to the Fed nearly six months ago, his nomination is currently being blocked by just one senator. Sen. Richard Shelby (R-AL) believes that this year’s winner of... [more]
More bad news for the teabagger crowd:
Earlier today, Federal Reserve Board nominee Peter Diamond won the Nobel Prize in Economics along with two of his colleagues. Yet, despite the fact that President Obama nominated this Nobel laureate to the Fed nearly six months ago, his nomination is currently being blocked by just one senator. Sen. Richard Shelby (R-AL) believes that this year’s winner of the highest honor in the economics profession is unqualified to actually set economic policy:
[U]nder an arcane procedural rule, the Senate sent Mr. Diamond’s nomination back to the White House on Thursday night before starting its summer recess. A leading Republican senator, Richard C. Shelby of Alabama, said that Mr. Diamond did not have sufficiently broad macroeconomic experience to help run the central bank. [...]
As Mr. Shelby noted, Mr. Diamond is not a specialist in monetary economics — the control of the supply of credit and the setting of interest rates — which is the Fed’s traditional purview. But of the five current governors of the Fed, only two, Mr. Bernanke and the vice chairman, Donald L. Kohn, are academic economists who specialize in monetary economics. The other three include a former community banker, a former Wall Street executive and a legal scholar.
http://thinkprogress.org/2010/10/11/diamond-nobel/[less]
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over 15 years ago
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Woman Claims Nevada GOP Gov. Candidate Brian Sandoval Employed Her While She Was Undocumented
Ana Padilla, a Nevada woman who immigrated from Guatemala illegally in 1986, has come forward to claim that Nevada GOP gubernatorial nominee Brian Sandoval employed her while she was undocumented, and “never asked me for documentation.” Padilla, who has since obtained U.S. citizenship, said she cleaned Sandoval’s house every Monday for more than six months, often while Sandoval was home, but that his family “never asked for her legal status or mentioned an I-9 form needed for Social Security taxes.” Padilla said she was initially excited about Sandoval’s candidacy, and wanted to help him. But once she learned about his right-wing stance on immigration, she decided to go public with her story:
And in West Virginia, the Democrat is now ahead in the Senate race!
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Response by The_President
over 15 years ago
Posts: 2412
Member since: Jun 2009
Nobel-winning economist: Still unqualified for the Federal Reserve?
Republicans have blocked one of Obama's nominees to the Fed, saying he is not qualified. Will they change their minds now that he has won a Nobel Prize in Economics?
President Obama got a surprise political boost this week, when one of his stalled nominees to the Federal Reserve, Peter Diamond of MIT, was named among three winners of this year's Nobel Prize in Economics. Diamond and his colleagues won for their work on why the unemployed can fail to find work, even when there are jobs available. But Republicans — particularly Sen. Richard Shelby (R-AL) — have been blocking Diamond's nomination on the grounds that he doesn't have enough experience. Should the GOP back down now that Diamond has won a Nobel? (Watch a PBS report about Diamond's award)
This proves Shelby is playing politics: Diamond's Nobel "makes Shelby look a little more ridiculous," says Steve Benen at Washington Monthly. Shelby has argued that Diamond isn't an expert in monetary policy, "which is true" — but Shelby didn't blink before rubberstamping a George W. Bush appointee who had "no advanced degree in economics" at all. Diamond's expertise in unemployment is something we could use right now, so he at least deserves an up or down vote.
"Richard Shelby, the Nobel committee is holding on line one"
Woman Claims Nevada GOP Gov. Candidate Brian Sandoval Employed Her While She Was Undocumented
Ana Padilla, a Nevada woman who immigrated from Guatemala illegally in 1986, has come forward to claim that Nevada GOP gubernatorial nominee Brian Sandoval employed her while she was undocumented, and “never asked me for documentation.” Padilla, who has since obtained U.S. citizenship, said she cleaned Sandoval’s house every Monday for more than six months, often while Sandoval was home, but that his family “never asked for her legal status or mentioned an I-9 form needed for Social Security taxes.” Padilla said she was initially excited about Sandoval’s candidacy, and wanted to help him. But once she learned about his right-wing stance on immigration, she decided to go public with her story:
http://thinkprogress.org/
And in West Virginia, the Democrat is now ahead in the Senate race!
Nobel-winning economist: Still unqualified for the Federal Reserve?
Republicans have blocked one of Obama's nominees to the Fed, saying he is not qualified. Will they change their minds now that he has won a Nobel Prize in Economics?
President Obama got a surprise political boost this week, when one of his stalled nominees to the Federal Reserve, Peter Diamond of MIT, was named among three winners of this year's Nobel Prize in Economics. Diamond and his colleagues won for their work on why the unemployed can fail to find work, even when there are jobs available. But Republicans — particularly Sen. Richard Shelby (R-AL) — have been blocking Diamond's nomination on the grounds that he doesn't have enough experience. Should the GOP back down now that Diamond has won a Nobel? (Watch a PBS report about Diamond's award)
This proves Shelby is playing politics: Diamond's Nobel "makes Shelby look a little more ridiculous," says Steve Benen at Washington Monthly. Shelby has argued that Diamond isn't an expert in monetary policy, "which is true" — but Shelby didn't blink before rubberstamping a George W. Bush appointee who had "no advanced degree in economics" at all. Diamond's expertise in unemployment is something we could use right now, so he at least deserves an up or down vote.
"Richard Shelby, the Nobel committee is holding on line one"
http://theweek.com/article/index/208082/nobel-winning-economist-still-unqualified-for-the-federal-reserve