Re: OT may i suggest his personal banker?
- From: "Terraholm" <terraholm_SpamNot_@xxxxxxxxxxx>
- Date: Tue, 4 Oct 2005 12:16:55 -0700
> he probably won't be able to find anyone more qualified.
> Bush Preparing for Greenspan Successor By JEANNINE AVERSA, AP
> Economics Writer
> 1 hour, 20 minutes ago
> WASHINGTON - Now that he's tackled the Supreme Court openings,
> President Bush is preparing for another high-profile nomination: a
> successor to Alan Greenspan, whose 18-year run at the Federal
> Reserve comes to an end in just over three months.
> Often referred to as the second-most powerful person in the United
> States, Greenspan's last day is expected to be Jan. 31.
> Speaking at a wide-ranging news conference on Tuesday, Bush touched
> briefly on the White House's efforts to select a new Fed chairman. He
> called the process to find Greenspan's replacement "ongoing."
> "There is a group of people inside the White House ... who will bring
> forth nominees," Bush said.
> What is the president looking for in a new Fed chairman?
> "The nominees will be people that, one, obviously can do the job and,
> secondly, will be independent," Bush said. "It's important that
> whomever I pick is viewed as an independent person from politics. It's
> this independence of the Fed that gives people, not only here in
> America but the world, confidence."
> Private economists agree that it is critically important that a Fed
> chairman make decisions involving interest-rate policy based on
> economic considerations, not political ones.
> The next chairman will steer the world's largest economy, with the
> goals of encouraging economic growth and job creation, while keeping
> inflation under control.
> Although a number of names have been bandied about as possible
> successors to Greenspan, the president said he himself hasn't seen a
> "Right now, I, frankly, hadn't seen any - personally hadn't seen any
> names yet because part of the process is to surface some names
> internally but also part of the process is to reach outside the White
> House and solicit opinions," Bush said.
> Bush didn't offer any firm clues as to when he might nominate
> Greenspan's replacement, saying only: "I'll name the person at an
> appropriate time."
> The president's comments about the Fed job come after he had dealt
> with two vacancies at the nation's highest court.
> Bush saw John Roberts installed as the 17th chief justice of the
> United States, succeeding William H. Rehnquist. On Monday, the
> president tapped White House counsel Harriet Miers to a slot on the
> Supreme Court.
> Drawing frequent mentions for Greenspan's job are:
> _Ben Bernanke: A former Fed board member, he recently became Bush's
> top economist.
> _Martin Feldstein. An economics professor at Harvard University and
> president of the National Bureau of Economic Research, he advised Bush
> when the Texas governor ran for president in 2000.
> _R. Glenn Hubbard. Dean of Columbia University's graduate school of
> business and an economics professor, he was Bush's chief economic
> adviser from 2001 to 2003.
> Also discussed for a post-Greenspan era are Donald Kohn, a member of
> the Fed board; Roger Ferguson, vice chairman of the Fed board; John
> Taylor, an economics professor at Stanford University; and Larry
> Lindsey, former economic adviser to Bush and ex-member of the Fed.
> a dark horse remains john smith, bush's personal banker. the two have
> developed a close personal relationship over the past twenty years and
> mr. smith played an instrumental role in the effort to cover up W?'s
> insider trading. mr. smith has served on his childrens' PTA boards,
> almost always beats the president when they play "monopoly", and is a
> frequent tennis partner of the president. many republicon economists
> agree that he is qualified to run the fed.
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