Richard Shelby

Lindsay Lohan's Right-Wing Monetary Views
July 01, 2011

Lindsay Lohan turns out to be a hard money crank: With a vacant Federal Reserve Board spot open and Peter Diamond still unqualified, I wonder if Richard Shelby would consider appointing her. She has sound conservative views on monetary policy, a successful entrepreneur, and she appeals to the youth vote Republicans badly need. And she has appropriately skeptical views of labor: I also believe a Federal Reserve appointment would give Lohan the structure she needs to keep her life on track. It's win-win!

Today in Economic Nonsense: Richard Shelby
June 13, 2011

A lot of us are begging, even pleading, with President Obama to focus more on economic stimulus and less on deficit reduction. But let's not kid ourselves. President Obama isn't the obstacle to passing a new jobs program. The Republican Party is. If you don't believe me, just listen to what Senator Richard Shelby of Alabama said on Sunday, during a roundtable discussion on employment during ABC's "This Week": I believe that stimulus basically doesn't work for the most part. We've tried that. The market grows the economy.

The Perfect Crime: GOP Kills Diamond Nomination
June 05, 2011

Peter Diamond, the Nobel-winning economist from MIT, will not be serving on the Federal Reserve. Therein lies a story about our dysfunctional Senate and our even more dysfunctional economics debate. President Obama first nominated Diamond in April, 2010. At the time, the choice prompted almost universal acclaim. Nobody in his generation may be better at applying theory to real-world problems like the design of social insurance or the nature of unemployment.

April 11, 2011

-- Jon Cohn worries about Obama's plan to reduce the deficit. -- Nate Silver: Boehner's debt ceiling brinksmanship "as close as you can get in American politics to mutually assured destruction." -- Richard Shelby has never been at war with a government shutdown.

Free Peter Diamond!
March 09, 2011

Few political spectacles depress and alarm me right now more than the stalled nomination of Peter Diamond. For those of you who don't already know, Diamond is the MIT economist whom President Obama has nominated to serve on the Federal Reserve Board. Diamond is widely considered among his generation's most brilliant economists.

Shelby to Nobel Committee: F*** Off
October 12, 2010

As you may know, Senator Richard Shelby voted against putting MIT economist Peter Diamond on the Federal Reserve Board and is, presumably, among the senators who have blocked that nomination via anonymous hold. Shelby, a Republican from Alabama, has questioned the qualifications of President Obama's nominee, suggesting the country can't afford a Fed governor who is "learning on the job." And while a lot of people were impressed with yesterday's announcement that Diamond had won the Nobel Prize for Economics, Shelby was not among them: ...while the Nobel Prize for Economics is a significant re

Peter Diamond, Still Blocked from Fed, Wins Nobel (Updated)
October 11, 2010

Peter Diamond, a 70-year-old economist at MIT, just won the Nobel Prize in Economics. Yes, that's the same Peter Diamond whom President Obama appointed to the Federal Reserve in April and whose confirmation Republicans have blocked. (Click here to read Peter Diamond's plan to save Social Security, which he wrote for The New Republic in 1998.) It's not clear which Republican or Republican senators are stopping his nomination at this point, as he's the victim of one of those infamous anonymous holds.

Why You Should Care About Peter Diamond
August 06, 2010

If you're a liberal who follows politics closely but not that closely, then you probably know a lot about Elizabeth Warren but not much, if anything, about Peter Diamond. That's too bad. Like Warren, Diamond could end up with a pretty important position--one from which he could do a lot of good. But, like Warren, Diamond has provoked the ire of some conservatives who want to keep him from that post. Diamond is one of President Obama's three nominees to the Federal Reserve Board of Governors.

BP And Our Kick-Ass President
June 21, 2010

My hunch is that the hemorrhaging of oil in the Gulf of Mexico won't end until...well, until it ends. By which I mean until the last drop rises to the surface and there is no more below. No, I don't know when that will be, and neither apparently do the hot shot execs at what President Obama (in another swipe at London) called British Petroleum or. for that matter, the president himself. Of course, no one really does.

Street Fight
April 04, 2010

Last week, Alabama Republican Richard Shelby, the ranking member of the Senate Banking Committee, floated a compromise on the consumer financial protection agency that’s currently stalled in the Senate. Under the bill Chairman Chris Dodd moved through the committee in March, the consumer agency would effectively have its own budget and an independent, White House-appointed director. It would also have significant (but not unchecked) authority to write and enforce rules protecting consumers from abusive bank practices, like deceptive mortgages.