Monday, April 13, 2009

We need a meeting

So we have such an economic calamity on hand we've got to get the biggest and brightest together to make sure we accurately navigate the turbulent economic waters?

Naaahhhh

Paul Volcker, the former Federal Reserve chief President Obama tapped in early February to head up a board offering outside economic advice, doesn't sound happy that the panel has yet to hold a formal meeting.

"The whole organizational side of this has been a nightmare," Volcker told the Wall Street Journal on Saturday.

The story echoes a report last month in POLITICO about the slow takeoff of the president's Economic Recovery Advisory Board and how legal constraints on such groups have complicated the process. A Bloomberg report last month also mentioned, in passing, the former Fed chair has been "kept out of major policy decisions, associates say. Volcker was named to head a White House economic advisory board, and then several of his choices for that board were vetoed by the White House."


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