The bishops' competition
By Diogenes ( articles ) | Nov 19, 2004
In 1913 the Federal Reserve Board was created, to keep the value of the dollar steady.
Today's dollar is worth (depending on your preferred measurements) somewhere between 3-5¢ matched against the 1913 dollar.
I think I have finally found a frame of reference for comparative measurement of the US bishops' effectiveness.
Notice, too, that "everybody" thinks Alan Greenspan is doing a fine job as chairman of the Fed. And Paul Volcker was great too. And before him, and before that... They've all done a great job. I wouldn't be a bit surprised to find out that the Fed is a "vibrant financial community."
Still, as far as I know, the Fed hasn't skimmed off billions to pay hush money to catamites from the Wharton School. So I guess the comparison breaks down there.
I'll try again.
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