Wednesday, March 26, 2008

I Can't Make This Stuff Up

As you may or may not be aware, Senator Clinton recently tapped former Fed chairman Greenspan to head a committee charged with finding a solution to the current housing crash. As hundreds of bloggers have pointed out (yet the mainstream media fails to grasp), it is stupifyingly outrageous to think that Greenspan, the very man who helped create the housing bubble, should be charged with finding a solution to it.

In light of this, The Philadelphia Daily News asked Senator Clinton why she would pick Greenspan to head up this effort. Her response:

"He has a calming influence still to this day on Wall Street - don’t ask me why because I never understand what he’s saying - but nevertheless people respond to that Delphic oracle approach. I think it would be wise to include him. And recently he’s come out, and very smartly so, that we have to deal with housing and maybe we need to have some kind of buyout mechanism for mortgages. So he’s moved on his understanding and depth of the problem - but you know you could pick three others. You just have to have some demonstrable involvement of presidential leadership."


This, to me, is kind of like saying we should put a mobster in charge of dealing with a crime problem. The only solution they're going to give you is the very thing that caused the problem in the first place (government intervention).