What’s the Establishment Got to Hide?
In a puzzling editorial in Friday’s edition, the Washington Post blasted the Federal Reserve Transparency Act as “an unserious answer to a serious question.” The Post, which tends to be predictably liberal and quite bland in its editorial pronouncements, used unusually harsh language, calling the bill “wrongheaded in the extreme.” The Post fears the legislation “would destroy financial markets’ faith in the Fed and, by extension, the value of the U.S. dollar, just as surely as a political ‘audit’ of the Supreme Court’s deliberations would undercut public faith in the justice system.”
That’s rather like saying Postal Service letter carriers should drive around in tanks, because the Army does and they both consist of uniformed government employees. The Fed and the Supreme Court both have big marble buildings in downtown Washington, but that’s about all they have in common.
Harold
ACGR's "News with Attitude" 