Channeling Milton Friedman...
I’ll pass on Cohn.
We already have enormous Goldman Sachs influence in our government—we don’t need any more.
When do we get to do a real audit of that place?
Larry Kudlow
Goldman Sachs is the public relations arm of the Federal Reserve
Freedom and limited government are ultimately inconsistent with a centrally-planned and manipulated, politicized, fiat monetary system. The latter will steadily destroy the former, as we are now seeing.
This is the best nomination by POTUS in my opinion.
Janet Yellen is terrible at FED. Slowest recovery ever!
My one concern is what might be Cohn’s thinking about derivatives. At the minimum they can help “spread the risk”, but unleashed and expressed to unlimited degrees and into uncharted breadth and depth they become a virus waiting for the next financial down-blip to become a major illness.
While Yellen is an academic and arrogant know nothing idiot, Cohn is a swing of the pendulum too far in the other direction, the direction of arrogant Wall Streeters who never saw a derivative they didn’t like, even after those derivatives helped turn the downside of the bursting U.S. housing bubble into an international financial crisis. Derivatives were the grease that spun out the effects of the housing bubble into a truly deep shit pile of excessive risk too many institutions were infected with.