Greenspan Assassinated! Senate Confirms Paris Hilton As Replacement Fed Chairman!

[Luke T.]

Okay. Got your attention away from Alito for a second.

This came in under the radar:

The U.S. Senate on Tuesday confirmed White House adviser Ben Bernanke as chairman of the Federal Reserve, clearing him on Alan Greenspan's last day in office to take over America's most powerful economic post.

Reuters (http://today.reuters.com/investing/financeArticle.aspx?type=bondsNews&storyID=2006-01-31T193432Z_01_WBT004690_RTRIDST_0_ECONOMY-FED-BERNANKE-URGENT.XML)

So what's the dirt on this guy? Arthur Andersen all time shredding champion? Halliburton hit man? Closet metrosexual? Viagra addict?

[Manny]

About as good a successor to Greenspan as can be hoped for. Macroeconomist, Fed experience, solid record, no industry ties to speak of. His academic background, BTW, is in the recession and deflation. Some think that will lead him to be more dovish than Greenspan but his voting record on the FOMC doesn't support that. His big thing has been democratizing the Fed -- making it more open and giving the other FOMC members a larger say. He is also a proponent of specific, announced inflation targets, a la the European central bank(s), but there's no indication that he'll rush that in. He knows he's got some big shoes to fill and he'll start of tentatively. If he's smart one of his first calls will be to former 49er great Steve Young on what it's like to follow Joe Montana.

What's even more interesting is the guy Bush has selected to succeed Bernanke at the CEA. Ed Lazear's career has been focused on labor microeconomics -- compensation, incentives, etc. He's also done immigration work and work on retirement preparation. He looks to be a perfect fit for the some of the chief issues facing the President over the remainder of his term, one of which is the persistence of wage stagnation given the low level of labor slack in the economy.

[Luke T.]

Thanks, manny.

Greenspan has some parting gifts for you. (http://abcnews.go.com/Business/wireStory?id=1562053)

The Federal Reserve on Tuesday nudged a key interest rate up to the highest level in nearly five years and left the door open for at least one more rate hike as Alan Greenspan brought his long tenure as chairman to a close.

[Ladewig]

Are the goofy headlines necessary?

[Luke T.]

Are the goofy headlines necessary?

Around here in Politics and Current Events? Sometimes. Hell, yeah.

Plus, bpesta is stalking me and I'm trying to throw him off my tail. Shhhhhhh.

[Luke T.]

I'm the Fox News of JREF.

[LostAngeles]

When I saw the abbrievated thread title on the main forum page, I thought Paris the city was being blamed or something.

:D

[bpesta22]

Luke, you complete me.

Luke Haiku:

It's not stalking you,
until I kill your bunny.
what are you wearing?

[Mephisto]

I'm the Fox News of JREF.

Why be so hard on yourself (huh, huh, huh, I said hard on), Luke?

You have a few things Fox News doesn't have - a sense of fairness, intelligence, a sense of humor, and my attention. I actually liked the subject titles, it's never bad to start off the day with a snicker. Thanks. :)

[Beerina]

Andrea Mitchell, Greenspan's wife, is better looking in her '60's than Paris is now, in the prime of her youth.

[Luke T.]

Andrea Mitchell, Greenspan's wife, is better looking in her '60's than Paris is now, in the prime of her youth.

Indeed. And has more brains in her little finger... (http://www.upenn.edu/almanac/v44/n21/021098.html)

[NoZed Avenger]

Interest rate hikes are hot.

[Mycroft]

Andrea Mitchell, Greenspan's wife, is better looking in her '60's than Paris is now, in the prime of her youth.

You think so at first until you realize how closely that mouth makes you think of Jack Nicholson's "the Joker."

[Mycroft]

Photo:

http://www.upenn.edu/almanac/v44/n21/mitchell.gif

[Mephisto]

Whoa! You had that pegged!

I wonder if someone could get her to say, "I wonder where he gets all those magnificent toys?"