Saturday, July 26, 2008

Every Breath

Today we talked about The Federal Reserve in class. I showed a video about the Fed, by the Fed.

The video was made in this millenium, but had a horribly drawn animated eagle in it. I was able to get a laugh when I commented on the fact that the Fed spares no expense with its state-of-the-art computer graphics.

After they laughed at the Fed's "serious" video, I showed them this video by Glenn Hubbard. Hubbard was chairman of Bush's council of economic advisors. Bush chose Ben Bernanke as Fed Chairman instead of Hubbard, and Hubbard has not recovered. He is the dean of the Columbia Business School, but his bitterness shows.

Given Bernanke's insane antics, putting the Fed behind private companies, beginning to regulate them and backing them with our assets, one can only hope that Hubbard will gain the courage to live out the sick fantasies in his video.

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