A few quick items.
by John Mauldin
March 7, 2008
It takes five members of the Fed board of governors to call an emergency meeting. There are now only five members. Senator (I wanted to be president) Chris Dodd (Democrat of Connecticut) is holding up the appointment of two governors for strictly political partisanship. He wants to subject the Fed to partisan concerns.
If something (God forbid) were to happen to one of the current governors, they would not be able to hold an emergency meeting. Dodd is simply putting the nation at risk for his own ego and partisan purposes. You can say what you like about the Fed, and I have been as critical as anyone, but I do NOT want politicians running the Fed. The next time you talk to your Senator, ask him to lean on Dodd and free up the nomination process. And for the Senate Democrats to allow him to do this is wrong. Shame on all of them! The Bible tells us to pray for those in leadership. We should pray for the health of those five governors.
