Let me distract you for a minute from the depressing circus that is the nomination process for the head of the IMF with the nomination process for the Fed Board.
The Nobel Prize Winning Economist Peter Diamond, has been continually denied by the Senate an appointment by President Obama to the Fed Board (thank you, Richard Shelby, you are a moron). After a year of this mess he has withdrawn from the proceedings, and published his views in an New York Times op-ed.
This is depressing, and he has a point... a very depressing point.
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