Tuesday, August 16, 2011

"Treason" and Responsibility

In the words of Onslow, one of my favorite characters on the British sitcom "Keeping Up Appearances," oh, nice*...

Rick Perry Stirs Firestorm By Accusing Fed Chair Bernanke Of Near Treason

The article includes strong commentary from both sides of the political spectrum regarding what a ridiculous (and irresponsible) statement this was.

The Federal Reserve is not a partisan institution. It was created to deal with the needs of an expanding economy without leaving the money supply prone to the machinations of party politics [see "19th century, numerous catastrophic economic collapses during"]. Does this mean it is perfect? No. But is Ben Bernanke (originally a Republican appointee, as the article points out) going to throw the weight of the Fed behind an attempt to bolster any one politician's electoral changes in an "almost treacherous, treasonous" decision? I don't think so.

Treason is the gravest of political crimes. It is irresponsible and grossly unstatesmanlike to use such terms outside the bounds of a most heinous betrayal. Governor Perry owes the Fed, the country and his own party an apology for bringing it into such disrepute. The GOP can do so much better.

* insert tone of heavy sarcasm...

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