I was browsing bloomberg news service today to find out more info on the dreaded state of our economy and found an interesting article on how Reid has refused to allow a vote on Bush nominations that would be in office way beyond January 19, 2009.
Is Reid finally showing some real backbone on nominations that will affect our country for years to come? Is he really up to the task of preventing the Bush disaster from becoming entrenched in perpetuity through proxies?
The article begins with a laughable quote from Bush on the confirmation process
``The confirmation process has turned into a never-ending political game where everyone loses,'' Bush said in a statement at the White House in Washington. ``It is clear that the process is not working.''
No surprise that Bush will point out that a process that involves a co-equal branch of government is broken since it it obvious he would like to have this power for himself as The Decider.
What was surprising to me, however, was the fight that Reid is willing to put on over these nominations. According to the article:
The positions to be filled include spots on the Federal Reserve Board of Governors and the White House Council of Economic Advisers as well as 28 judgeships. Some nominees have been waiting more than two years, Bush said.
These positions are not just the typical judgeships that have been the source of acrimonious stand offs in the past but over very important economic policy and regulatory posts.
Reid responded:
Senate Majority Leader Harry Reid said yesterday that senators are reluctant to vote on many nominees because approval would put them in office well past Bush's presidency. To confirm them ``would greatly limit the ability of a new president to change the direction of those boards through new appointments,'' he said.
Reid said Democrats won't allow Bush's nominees to fill three vacant Federal Reserve Board posts for full 14-year terms.
``Democrats, and I think the majority of Americans, think that the nation desperately needs a new direction on the economy,'' he said. ``I don't think they want to ensure that the legacy of the president's bad economic policies live on for 14 years through his Fed nominees.''
I don't know about anyone else but considering how much the Democrats have capitulated to The Decider in the last year, it is impressive to see him show some backbone and not let Bush limit the next Democratic President. In particular over the fact that the nominations appear to be held up because of concerns over the nominees commitment to protecting consumers:
The Senate Banking Committee has delayed voting on Bush's three Fed nominees, with lawmakers expressing concerns about their ability to protect consumers from the abusive lending practices that contributed to the subprime mortgage crisis.
The three nominees are Fed Governor Randall Kroszner, whose term officially ended Jan. 31, Capital One Financial Corp. executive Larry Klane and Virginia community-banker Elizabeth Duke. Kroszner can continue to serve at the Fed until a successor is appointed. Bush today urged the Senate to confirm them ``as soon as possible.''
Considering the meltdown in the credit markets due to unrestrained and unregulated capitalism, it is impressive that Reid and the Democrats are willing to stand up to nominations which will cement the horrible status quo.
I hope that this is really the beginning of new leadership from our Dems in Congress....