The Federal Reserve Bank has been exhaustively examined on Daily Kos. Much of the commentary has been a cacophony railing against the greed that pervades the decisions made by the Federal Open Market Committee(FOMC) or the Board of Governors. Considering the "bail out" of Bear Sterns and the new policy that allows "venerable" investment banks to surreptitiously borrow money at the Fed's discount window, the harsh criticism is warranted. Many diarists have called for the complete dismantling of the Fed. This precipitous call for action, however, ignores the fact the that Fed can be easily changed without dismantling it. Fortunately, Obama may have the opportunity to make that change.

Just saw this on BBC, and came to Dkos to see if it where being discussed. Surprisingly I didn't see it anywhere, but I guess it has been a big news day. Nonetheless, enjoy.

Apparently congress filed suit against Harriet Miers and Joshua Bolton claiming that they must testify to congress.  As BBC states:

The lawsuit filed by the House Judiciary Committee contests the White House's view that Ms Miers is immune from being held to testify by Congress.

It also calls on Ms Miers and Mr Bolten to identify all the documents being withheld from Congress despite the subpoena issued by it early last year.

And to no ones surprise:

White House spokeswoman Dana Perino responded: "The confidentiality that the president receives from his senior advisers and the constitutional principle of separation of powers must be protected from overreaching and we are confident that the courts will agree with us."

It will be interesting to see how this plays out; hopefully this will inspire some more action in congress because the courts are likely to take their sweet time in deciding this.

This morning I went to see Obama speak at the Midwest Airlines Center in Milwaukee, Wisconsin. I went with a few friends, who are Independents and Republicans. The speech was great and, as expected, the crowd was diverse. Obama's speech electrified the crowd and all my friends enjoyed it, and subsequently said they would be voting for Obama in the primary, Republicans included. However, my Latino friend, who had previously shown strong support for Obama, withdrew his vote and said he would be voting for Hillary. Join me below the fold for more.  

Gun control is an issue that does not have nearly enough support among the current group of Democrats. Although most do support gun control, they certainly haven't done any legislating to show their support. Granted there are bigger problems but this quote from John Tester just pissed me off. Join me below the fold for more.

I am supposed to working on my thesis right now, which is basically about Identity construction in the novels of Virgina Woolf.  Instead I figured I would write my first diary.  I have been reading this site since 2004 and just recently became a member.  I am not sure why, but for some reason I never really felt the need to comment or write a diary.  You guys all do such a good job I figured I had little to add, until today.