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Not knowing business is, in fact, bad for business

Or, "The Federal reserve and the Department of the Treasury are *different*? Well, it doesn't matter -- I'm sure you're evil too!!"


Democrat Budget Committee Member Marcy Kaptur (D-OH) apparently thinks she's grilling a different person about economics and policy here (the Secretary of the Treasury) than the person she's actually talking to (the Federal Reserve Chairman).

As you see, she's winding up to use the "You were the CEO of [the eeeeeeeeeevil] Goldman-Sachs" avenue of attack....and it stopped dead in her tracks by the fact that she was too unprepared to know that that is an entirely different person. It's a little tougher to attack someone for their steal-from-the-poor history and supposed economic ignorance when that person turns out to be not the former CEO of an [eeeeeeeeeeeeeevil] corporation, but the former head of an Ivy League Economics Department.

Then again, Ms. Kaptur could just be using the "machine gun" approach, in which one simply sprays a choice invective at everybody within range, with the knowledge that, sooner or later, it will hit somebody and stick. In other words, if you have folks (especially Bush appointees) on the Hill testifying about economics every day for a week, and you accuse them all of being the former CEO of Goldman-Sachs, well, one of these days you might actually be right -- and then that person can catch their due amount of hell for being such an eeeeevil representative of corporate America.

But hey, don't take this as an indicator of overarching ignorance; you know that you can trust the Democrats to craft economic policy and to know what stimuli will work best in the U.S. economy, even though they can't even get their attacks aimed at the right people!


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