Donald the Destroyer

To paraphrase a question that will be asked in two weeks, "Why is the Fed different from any other institution?" Answer: It is not. With President Trump's incessant criticism of Fed policy and his proposal to nominate two sycophants, Stephen Moore and Herman Cain, to the Federal Reserve Board of Governors, we now have proof that he is out to bully and then destroy the institution. Hopefully cooler heads in the Senate will prevail and not confirm the nominees, but I fear that thought might be the triumph of hope over experience

Coming before the Fed has been the F.B.I., the C.I.A., NATO, EPA, State Department and host of other agencies. Simply put the guard rails designed to protect our democracy and our economy are one by one being destroyed. Although stock market reaction to Trump's announcement has thus far been benign, I don't want to see what would happen in a crisis. Trust me, it will be ugly.