In response to:

The ‘Dodd Rule’ on Nominations

Kevin690 Wrote: Apr 16, 2012 7:44 AM
Sounds more like the Dodo rule to me. Perfectly fitting for the now-retired criminal Senator.

Obama’s recent nomination of Jeremy Stein and Jerome Powell to the Board of Governors of the Federal Reserve System raises an important question: How should the Senate treat nominations whose terms are likely to run beyond the term of the current president? If confirmed, Stein could serve until 2018 and Powell until 2014. Of course this pales in comparison to current governor Janet Yellen, whose term runs until 2024.  With or without Stein and Powell, Obama nominations will have control of the Federal Reserve for years to come.

The long terms of Federal Reserve governors are meant to insulate them from...