CommunityEmptywheel Archive

They Don’t Even Use the “Time with the Family” Excuse Anymore

Apparently, the White House has decided it had one too many adults on its economic recovery board, so now Paul Volcker has been decided to step down.

I realize that “has been decided” is not proper grammar, but look at how Reuters refers to this decision:

The departure of Volcker as head of the President’s Economic Recovery Advisory Board is among a series of changes that have been under review at the White House.

The decision to leave the PERAB was Volcker’s.

A series of changes has been under review at the White House. But this decision, the Volcker departure, was entirely Volcker’s.

I guess that means Volcker only ever reflected on this decision when he was at the White House, and he just stopped considering it when he was elsewhere?

Or perhaps this means the White House has been talking about how to get rid of Volcker for some time, but they only recently told him he could decide to step down or he could be decided to step down.

Whatever the grammar, I’m wondering why they got rid of Volcker and not the geniuses who invented HAMP. I’m also wondering whether the Administration has decided the Volcker rule, one of the biggest restrictions on big finance in the financial reform, is bad for recovery.

Previous post

Calling Obama's Bluff on His Signing Statement

Next post

Bank of America Admits GSE Settlement "Necessary Step" in Housing Recovery



Marcy Wheeler aka Emptywheel is an American journalist whose reporting specializes in security and civil liberties.