Donald Duck for Fed Chair?

Robert Prather worries that the Miers nomination could be a bad sign of things to come:

Since President Bush is the genius that chose a poorly credentialed crony to sit on the Supreme Court, how can we trust him to choose an adequate replacement for Alan Greenspan? Chairman of the Fed has an even larger day-to-day impact on our lives. I̢۪m getting nervous now. He needs the economics equivalent of a John Roberts, someone who inspires trust. The more I think about it the more nervous I get. We could end up with Donald Duck chairing the Fed.

If Donald Duck would refrain from trying to put buying a home out of reach of tens of thousands of Americans, bankrupting thousands of others and generally pontificating on matters not directly related to the monetary policy, he would be a vast improvement over what we’ve had lately.

Moreover, these issues are precisely why the Framers required Senate approval for nominees to major positions. I like George Bush, voted for him twice, and would, despite my constant exasperation with his policies, vote for him over Al Gore or John Kerry right now if given the opportunity. I voted for him for president, though, not potentate. The Senate is supposed to be a deliberative body to check the impulses of the executive. In the case of Meirs and a potential Greenspan replacement, I should hope they would take that charge seriously.

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James Joyner
About James Joyner
James Joyner is Professor and Department Head of Security Studies at Marine Corps University's Command and Staff College and a nonresident senior fellow at the Scowcroft Center for Strategy and Security at the Atlantic Council. He's a former Army officer and Desert Storm vet. Views expressed here are his own. Follow James on Twitter @DrJJoyner.

Comments

  1. Can’t he appoint Harriet Miers to the Fed and then give us a real Supreme Court nominee? As Fed Chairman, Miers could testify to Congress without causing a stock market panic by raising her left eyebrow. That would be a real improvement.

  2. spencer says:

    From the White House view the single most important requirement for the new Fed chairman is that it be someone that will not critize the Bush fiscal policy. That just about rules out all the people that the press and the street speculate about.

  3. Kermit says:

    Being of the Jacksonian Democrat stripe, I have very little trust in leaving the running of the government to the Washington elite. The most dangerous time for the constitution is that wonderful time when the Congress of the United States is in session!

  4. SCOOP: BUSH WILL NOMINATE LONGTIME AIDE TO REPLACE OUTGOING FED CHAIRMAN

    BREAKING NEWS!!! MUST CREDIT THIS BLOG!!!

    Sources say that President Bush has already settled on a replacement for outgoing Federal Reserve Board chief Alan Greenspan. The surprise candidate is Billy “Moneybags” Johnson, Bush’s long-time personal…

  5. John Hudock says:

    Sure, make fun of Donald…but if we could get his uncle Scrooge McDuck on the Fed, we might actually have something.

  6. Kermit,

    If memory serves, Jackon was Mr. Spoils System.

    As such, one would think that a Jacksonian Democrat would like cronyism. 😉

  7. New Presidential Appointments

    President George Bush today announced he has nominated professional gardener Jesus Ramirez as the new secretary of agriculture.

  8. ken says:

    I like George Bush, voted for him twice, and would, despite my constant exasperation with his policies, vote for him over Al Gore or John Kerry right now if given the opportunity.

    This just goes to show that your judgement is no better than his. Not something to be proud of James.

  9. Jim Henley says:

    The Senate is supposed to be a deliberative body to check the impulses of the executive.

    The only way to get that these days is with blessed, hopefully soon to return, divided government. My personal preference would be a Dem Pres and Republican Senate, but I could almost settle for a Repub Pres (not Bush) and Democratic House. (Recent experience shows that there are not 218 intelligent Republicans – willing to run for Congress – to constitute a majority in the Lower Chamber.) Repub Pres and two Democratic chambers would work too.

  10. Texas Native says:

    He’s baaaa-aaaack

    A prodigal blog returns

  11. McGehee says:

    Repub Pres and two Democratic chambers would work too.

    Hm. I’m remembering the years 1987-93, when this was in place. We got big tax hikes and growing deficits — the worst of both worlds.

    Jim, could you define “work” as you mean it here?

  12. Borlos says:

    Listen, WE ARE AT WAR. Being President IS HARD WORK. If we criticize his choice, we are going to undermine the safety of our troops and THE TERRORISTS WILL HAVE WON.

    Brownie should be the next FED chair. Managing the fiscal health of the country is pretty much the same as managing a bunch of horse show judges. He’ll do a heckuva job!

  13. Mr. Snitch! says:

    Scrooge McDuck for Fed Chair. Absolutely!

  14. Another alert from the Poindexter Awareness Office

    Like moths drawn by the flame, more Poindexter-worshipping pundits are coming to the fore as a result of the Miers’ nomination. It has come to the attention of the PAO that a pre-emptive strike has been launched in anticipation of Bush’s naming of a …

  15. al bee says:

    I worked with Donald at the Department of Energy. A nice guy but no financial wizard.

    I do not share you consternation over Mrs. Miers appointment. Each justice employs five clerks to do the grunt work allowing time for the justice to weigh the factors to arrive at just decisions.
    How many arrive at a higher court already entrenched in court policy, procedures and politics? A fresh approach?

    Like James I voted for the President twice and would vote for him again. I have confidence in him and his innate honesty. When he looks up during a speech I see an honest man doing his best to satisfy all citizens.

    .