Is Bernanke Making the Wrong Concession?
October 01, 2009
As I've said before, I admire the Fed chairman's political touch, which he demonstrated again today by making a key concession to Fed critics and skeptics: Apparently Bernanke is now willing to share power for keeping an eye on systemic risk with a council of regulators. It's the kind of thing people like FDIC chairman Sheila Bair have proposed, so that the Fed doesn't end up cornering the market on financial regulatory authority. I just wonder if this is the right concession to make. For one thing, I'm not entirely sure how a council of regulators is supposed to work.
Sweet And Low
March 22, 1999
I. The Poisonwood Bible by Barbara Kingsolver (HarperFlamingo, 546 pp., $26) Barbara Kingsolver is the most successful practitioner of a style in contemporary fiction that might be called Nice Writing. Nice Writing is a violent affability, a deadly sweetness, a fatal gentle touch. But before I start in on Kingsolver's work, I feel I must explain why I feel that I must start in on it. I do so for a younger version of myself, for the image that I carry inside me of a boy who was the son of a sadistic, alcoholic father, and of a mother who was hurt but also hurtful, and abusive.