Opening Remarks Understanding theWord 'No'

摘要

A few years ago a friend asked me over lunch whether I knew of any "dirt"-his word-on a person who had recently been nominated to a post requiring Senate confirmation. The "groups," he said, had decided to oppose the appointment and were trolling for information. In other words, a smear campaign was coming. This tale comes to mind in the wake of economist Peter Diamond's dramatic and angry withdrawal on June 6 of his candidacy for a post on the Federal Reserve's Board of Governors. Diamond (above), who last year was awarded the Nobel Prize in Economic Sciences, was opposed by Republicans led by Senator Richard Shelby of Alabama. While Shelby claimed this was because Diamond had too little experience in monetary policy and he couldn't back "decisions made by board members who are learning on the job," the real aim was to turn Diamond's confirmation process into a referendum on President Barack Obama's economic policies.