Djcnor’s Weblog

Obama’s Choices #9 Paul Volcker

Posted on: January 12, 2009

This is yet another post involving the economy. The Economic Recovery Advisory Board is made up of non-governmental experts from business. Pardon, me, but isn’t business already well represented? What about all the people that are even now being seriously affected that don’t have businesses? What about the people who have small businesses, not the big ones or the big qualifications that might cause them to be named “Experts”!

OK, now that THAT little rant is out of the way, what will they do?  They will report to Obama’s economic team on the crisis and possible responses to it. I’m tempted to go back to my rant. More than tempted. I’m gonna do it! What do these folks know about it? They know numbers. So many people will lose their jobs, or their homes, or their healthcare. Nobody they know, of course. To these folks, the deprivation will be statistical, theoretical, not something they really personally relate to. GET SOME FOLKS ON THIS BOARD WHO ARE AT THE BOTTOM OF THE EFFECTS OF THE ECONOMIC CRISIS!

According to wiki, the board is supposed to pierce the insularity of Washington decision-making. Guess what. Business “experts” have already pierced it. They’ve pierced it full of so many holes that the public is seeing right through to the fact that business has been pulling the puppet strings for too long. TAKE THEM AWAY!

Obama says “The walls of the echo chamber can sometimes keep out fresh voices and new ways of thinking — and those who serve in Washington don’t always have a ground-level sense of which programs and policies are working.” Um yeah! But these are in no way fresh voices or ground level voices. WHY NOT?

I’ll try to cool myself down a bit and look at Volcker himself. Oh, lord! Former Chairman of the Federal Reserve. Father was Teaneck, NJ’s first municipal manager, Princeton, Harvard. In other words, he’s never known a day of economic powerlessness in his life.


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