Good Riddance Mr. Greenspan

by Mike on December 13, 2005

in Politics

Seriously, I wish he would stop doing this. Thankfully Greenspan only has one more of these meetings to attend.

What’s even more frustrating about the hit in the wallet is the fact that Greenspan’s position, as it exists, is unconstitutional. Article 2 vests the executive power of the U.S. in the President. The fed Chairman performs an executive function and cannot be fired by the President. This is unlike any other executive position except the Vice Presidency, a position technically not filled by the President.

Too much concentrated power for an unelected official. No accountability. Higher interest rates every time the President is a Bush. This position should be abolished. In the meantime, I can’t wait for Bernake.

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