LIFE IMITATES ART…. Sometimes, you just have to laugh.
There was a great episode of “The Simpsons” a few years ago, in which the city of Springfield was looking to local officials to address a crisis. Mayor Joe Quimby, anxious to give the appearance of action without actually doing anything, announced the creation of a “blue-ribbon commission.” Lenny responds earnestly, “Did he say a blue-ribbon commission?” — prompting Carl to say, “Well, you can’t do any better than that!”
This morning, Quiddity reminded me of one of the proposals being floated by House Republicans in response to the crisis:
Create a blue ribbon panel with representatives of Treasury, SEC, and the Fed to make recommendations to Congress for reforms of the financial sector by January 1, 2009.
Did House Republicans say a blue-ribbon panel?