Ron Paul for Executor
But we have been thinking: If the likes of Bank of America, J.P. Morgan and Citigroup have to draw up end-of-days contingency plans, what about the central bank that lit the fuse on the bomb that nearly blew up the economy? Surely, it should have to make preparations for its own dissolution, too. Following is a short-form living will for the Federal Reserve. We submit it pro bono.
Actually, it may hearten Chairwoman Bair to know that it takes nothing like 500 hours to draft a suitable plan. Colleague Evan Lorenz was on the job for no more than 90 minutes, and he seems to have hit the highlights, starting with the identity of the Fed’s executor (it’s the Republican congressman from Texas)…
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