Comments on: Nihilism or Democracy? http://www.samueljscott.com/2008/09/30/nihilism-or-democracy/ Understanding politics from the left, right, and center Sun, 10 Jul 2011 23:07:29 +0000 hourly 1 http://wordpress.org/?v= By: Sam Scott http://www.samueljscott.com/2008/09/30/nihilism-or-democracy/comment-page-1/#comment-1104 Sam Scott Tue, 30 Sep 2008 17:41:04 +0000 http://samueljscott.com/?p=927#comment-1104 I think part of the problem of lack of leadership is that many different officials are responsible for overseeing (or not) the economy. The Federal Reserve and the U.S. Treasury Department are both powerful but essentially independent of each other. The Executive Branch has several other agencies (like the SEC) as well. Congress must play a role too. You have dozens of powerful, private players in the market as well. I can imagine it being difficult for all of them to co-ordinate policy and agree on something. Essentially, in economic matters, there is no single person that can say, "the buck stops here." Who could lead in this environment? I think part of the problem of lack of leadership is that many different officials are responsible for overseeing (or not) the economy.

The Federal Reserve and the U.S. Treasury Department are both powerful but essentially independent of each other. The Executive Branch has several other agencies (like the SEC) as well. Congress must play a role too. You have dozens of powerful, private players in the market as well. I can imagine it being difficult for all of them to co-ordinate policy and agree on something.

Essentially, in economic matters, there is no single person that can say, “the buck stops here.” Who could lead in this environment?

]]> By: Jeff http://www.samueljscott.com/2008/09/30/nihilism-or-democracy/comment-page-1/#comment-1103 Jeff Tue, 30 Sep 2008 16:16:16 +0000 http://samueljscott.com/?p=927#comment-1103 Brooks was just plain wrong on his opinion of the bailout. He was right, however, in noting the lack of leadership from anyone in government. Brooks was just plain wrong on his opinion of the bailout. He was right, however, in noting the lack of leadership from anyone in government.

]]> By: Sarah & Tim http://www.samueljscott.com/2008/09/30/nihilism-or-democracy/comment-page-1/#comment-1102 Sarah & Tim Tue, 30 Sep 2008 15:34:34 +0000 http://samueljscott.com/?p=927#comment-1102 It's encouraging that they are listening to the American public. I read this morning that what swayed Hawaii Congressmans' vote is the overwhelming public response he received. Brooks' comments are foolish - just because you belong to a party does not mean you automatically vote for whatever they deem best. Doesn't it seem strange that the very people who were the architects of the $700 billion bail-out are the very ones who caused the problem to begin with? Peculiar. I subscribe to an independent financial magazine you may enjoy called Monetary Intelligence Magazine. You can request a complimentary copy on their website, http://monetaryintel.com. Like you, they give it to you straight. It’s encouraging that they are listening to the American public. I read this morning that what swayed Hawaii Congressmans’ vote is the overwhelming public response he received. Brooks’ comments are foolish — just because you belong to a party does not mean you automatically vote for whatever they deem best. Doesn’t it seem strange that the very people who were the architects of the $700 billion bail-out are the very ones who caused the problem to begin with? Peculiar. I subscribe to an independent financial magazine you may enjoy called Monetary Intelligence Magazine. You can request a complimentary copy on their website, http://monetaryintel.com. Like you, they give it to you straight.

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