If I were a ........

If I were a -blank- (I won't actually type the word since it would be red flagged some where in some computer in some antiseptic data farm) I would carry out a plan specifically designed to bring chaos to the financial system of this country.  Why?  Because of grandstanding ****** (I told my wife I would try and be nicer to ****** in the future, so the *'s are my way of starting off on the right foot) politicians who have yet to vote to replace the empty spots on the Fed's Board of Governors.  Mostly this lack of voting comes down to one man and his quixotic tilt against financial reform.  Yes the Fed has problems, yes the Fed didn't "see" the credit crisis coming (you realize few people did and then usually only within narrow terms), yes the Fed could be a wanton world dominating hegemony of the richest families on earth ;), but they are needed to stabilize the idea of a stable financial system.  senator shelby (no need for capitalization because its not deserved) has blocked and cajoled the Senate from voting on filling the empty seats in a quest to block needed reform and supervision of the broad financial system.  Its not about the person nominated to the board seats, but about personal power and the next election.  Why must these politicians play with the future of the US by being ****** and potentially harming the very core of this country.  shelby will not be hurt by a failure of Fed governance, you and I will.

What difference does it make whether the politicians do or don't vote to fill the vacant seats you may now be asking?  The Fed needs a quorum of 5, they now have only 4.  This lack of "quorumness" disables the Fed from doing anything that might help or (I'll give this to shelby) hinder the US in an emergency.  In a financial crisis, such as oh I don't know; European default, 9/11 replay, China meltdown, California falls into the ocean, everything East of California falls into the ocean, etc. the Fed can't do anything.  Thats right nothing.  If it passed any emergency resolution to help stem the collapse of the world's best economic system, even with its many, many flaw, those resolutions could be tied up in court seeking to decide whether those same resolutions are legal while the US falls into a deep, deep economic pit of despair.  For those wishing to destroy the Fed, that is an ideal situation.  Make the Fed useless in a crisis, makes the Fed useless during "normal" times.  All of this doesn't matter much in times of relative stability, but has the world been stable lately?

















PS ****** means idiot / idiot's  :)