A Stitch in Haste

I once joked, when such jokes were timely, that I was available for nomination to either Chairman of the Federal Reserve or Chief Justice of the Supreme Court. I am, of course, patently unqualified for either position.

Or maybe not:

Most of President George W. Bush's nominees to the Federal Reserve have earned accolades from across the economic and political spectrums.

And then there's Kevin Warsh.

Bush's nomination of the 35-year-old White House aide — a lawyer by training who would become one of only two members of the Fed's seven-member board of governors without a Ph.D. in economics — has been greeted by criticism and bewilderment by some former Fed officials and economists. They point to his political connections and inexperience, and say the White House could have found a better-known, more qualified choice.

The White House:

Mr. Warsh currently serves as Special Assistant to the President for Economic Policy, managing domestic finance, capital markets and banking issues. He also serves as Executive Secretary for the National Economic Council. Prior to this, he served as Executive Director and Vice President for the Mergers and Acquisitions Department in the Investment Banking Division at Morgan Stanley & Co. Incorporated. Mr. Warsh received his bachelor's degree from Stanford University and his JD from Harvard Law School.

Now despite having watched 4.5 seasons of "The West Wing," I'm still not sure exactly what a "Special Assistant" does. Maybe it's important — who knows? And I admit Brooklyn Law School (cum laude) is not Harvard Law School. But my investment banking credentials are comparable to Warsh's. And I have an Ivy League M.A. in economics. And I'm a Chartered Financial Analyst. So I'm arguably less of a non-Ph.D. than Warsh. And I'm four years older — that should count for something.

Yup, I think the President should definitely have nominated me instead.

Oh, wait, I forgot — I didn't give $104,000 to the Republican National Committee like Warsh's father-in-law did.

Never mind.

Hat tip to Economist's View. More thoughts from William J. Polley.

POP QUIZ: Who remarked, regarding the presidency: "If nominated, I will not run. If elected, I will not serve."? NO GOOGLING!

Place this one in the "Politician as Selfless Public Servant" file:

Lame-duck Gov. Pataki's patronage machine shifted into high gear yesterday as the names of dozens more politically connected friends and associates -- including the wife of CNBC host Lawrence Kudlow -- were sent to the GOP-controlled Senate for appointment to high-level jobs and prestigious boards.
...
Democrats pounced on the qualifications of Jennifer Arena, a longtime Pataki administration spokeswoman, for a two-year term — at $101,600 a year — on the state Board of Parole.
...
Senate Minority Leader David Paterson (D-Manhattan) said Arena failed to meet the state law's requirement that board members have at least five years' experience in such fields as criminology, law, psychology and law enforcement.
...
Pataki spokesman Michael Marr contended Arena's experiences as a spokeswoman were sufficient to meet the legal requirement.

Was this a stray case of impropriety?

The [New York] Post reported yesterday that Pataki had jammed nearly 150 political cronies, campaign contributors, longtime aides, and their relatives, into patronage jobs in a move designed to close off positions that would otherwise by filled by the state's new governor in January.

Look on the bright side, at least he's not selling pardons.

In any event, the best way to avoid the placement of cronies into government positions is to eliminate the government positions themselves. Go figure.

Remind me again how politicians are all "selfless public servants"?

Since Prince George's [Maryland] County Executive Jack B. Johnson (D) took office four years ago, 15 of his friends and political supporters have been awarded 51 county contracts totaling nearly $3.3 million, according to records and interviews.

In several cases, Johnson awarded county contracts to supporters after he failed to persuade the County Council or others to place them in county jobs. He has also created at least a dozen high-profile positions and filled them with supporters, including fraternity brothers. Some of those who received contracts or jobs had no expertise in the field, and others did not produce written reports required by the county.

You can read the specifics on your own.

Little commentary is necessary, except to note, once again, that the less the government does, the less that it can be abused and the less attractive it becomes for parasites like County Executive Jack B. Johnson and his leech cronies.