Richard Shelby is blocking the nomination of Peter Diamond to sit on the Fed board of governors.Right. He's unqualified. Notice Shelby didn't say he disagreed with him - he said that he's unqualified.
Why?
Shelby says Diamond is unqualified.
Diamond is a professor of economics at a little school called MIT.
Diamond won the Nobel Prize for economics.
Diamond was Ben Bernanke's teacher!
"While the Nobel Prize for economics is a significant recognition, the Royal Swedish Academy of Sciences does not determine who is qualified to serve on the Board of Governors," said Sen. Richard Shelby of Alabama, the senior Republican on the Senate Banking Committee.
via Cesca
This is stupidity for stupidity's sake.
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