Welcoming The New Econ Wizzz January 31, 2006
Posted by Resident Egoist in : Economics , trackbackAlan Greenspan had his last day wrecking the U.S economy today. It would have been a very sad day for America if it weren’t for the fact that everyone’s beloved Economic Wizz is to be replaced by another very beloved Money Wrecker, Ben Bernanke, whose nomination the Senate approved today. Woohoo!!
And don’t worry ladies and Gentlemen. Even if Mr. Bernanke isn’t as good as his predececessor at devaluing your hard-earned money, the Washington Post reassures us that he is inheriting a very “experienced staff” — so yes, the deed will be done.
They have excellent evidence too … for example, on that fateful day, September the 11th 2001, Fed Chairman Alan Greenspan was all but present in this country, yet his staff, all by itself, managed to pull us through and save the stock market from certain doom — yep just another day at the Federal Reserve!
Now, the Post in its own words:
Alan Greenspan was unreachable on the morning of Sept. 11, 2001, as terrorists destroyed several blocks in the financial heart of New York City. Returning from a bankers’ conference in Switzerland, the Federal Reserve chairman was flying in a jet over the Atlantic — depriving the central bank of its vaunted crisis manager at a daunting moment.
Yes Dear Reader, let the suspense sink in.
But the Fed did fine without Greenspan that day, led by several people who have worked alongside him during other crises over his 18 years running the central bank. Fed officials and senior staff members swiftly reassured the world, through words and actions, that the U.S. financial system would keep working — earning the chairman’s praise when he returned the next day.
I invite everyone to join me in signing the petition urging the Lord to bless the Fed staff. What would we do without the Federal Reserve? The thought is frightening, I know.
Technorati Tags: Federal Reserve, Alan Greenspan, Ben Bernanke
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