Why is Alan Greenspan being reappointed AGAIN?

[bluestateguy]

Putting aside one's disagreement with his policies, does anyone here find it a little disconcerting that this man, in a position of enormus influence over the US economy, will have held office for 21 years if he serves another full term? The longer he holds office, the more power is concentrated in his hands. We are at a point now where Alan Greenspan IS the Federal Reserve, larger than the institution itself. Much like J. Edgar Hoover WAS the FBI for more than a generation, and General Lewis Hershey WAS the Selective Service System during the heydey of the peacetime draft.

Part of the problem here may be that his term expires during presidential election years and incumbent presidents are not eager to rock the boat or razzle markets with a new appointee in election years.

[0007]

1. The biggest Jag off of the year keeps on cooking the future.

[FlashHarry]

Because, if he isn't, the markets will crash.

Christ on a bike! If he gets a cold, the markets dip! The man has entirely too much power--or, rather, he is given way too much power by nervous traders.

[Warpy]

4. That's probably it.

Also, he has a hissy fit every time a working stiff gets a raise. The fat cats absolutely adore him.

[thebigidea]

2. because of his smoldering eroticism

[bryant69]

3. I don't know

I mean I can understand why Clinton did it; to keep the markets trusting him (at least a little). And I would gather that Bush and Greenspan are in agreement on most of the issues. I mean if you think the guy is going to do what you want him to do, why replace him?

Has Kerry announced what he will do with Greenspan?

Bryant
Check it out --> http://politicalcomment.blogspot.com

[stavka]

5. He's our Hoover...don't complain

Without a good Fed - we might really be looking at economic Chaos - why else do you really think this gang of thugs hasn't fired him?

He's the "Abbadabba" Berman of our age.

[Catt03]

6. Because he is a Republican and followed the agenda

[The Backlash Cometh]

7. Because it would take too long to corrupt anybody new.

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