Petey Says:
December 4th, 2009 at 2:36 pm

“This is a serious question, and I’m hoping for a non-snarky, non-cynical answer. Why would Obama re-nominate a key architect of the current “Great Recession” as Fed Chairman?”

Politically, they see appointing a Republican as Fed Chair as giving them cover on the economy, just as they see appointing a Republican as Defense Secretary as giving them cover on Iraq and Afghanistan, and just as they see letting a Republican (Snowe) dictate final terms on the Romney-care bill as giving them cover on healthcare.

This White House’s prime directive is to remain permanently above the fray by being nominally “Democrats” while putting policy in the hands of moderate Republicans.

They see that as the essence of their brand, and brand maintenance trumps all policy concerns. And that’s how we end up with a moderate Republican White House in policy terms.

That is a non-snarky answer. If it is a cynical answer, that is inherent in the facts on the ground.