Tag Archives: Money

Treasury’s new $10 bill idea prompts outcry in defense of Alexander Hamilton

The Obama administration has a money problem.

More specifically, Treasury Secretary Jack Lew is under attack for announcing that the U.S. Treasury will change the $10 bill in order to add a woman’s portrait to the currency.

The scathing critiques, from former Federal Reserve Chairman Ben Bernanke to the USA Today editorial board and leading historians, have come after Lew’s decision to demote Alexander Hamilton, the nation’s first Treasury secretary, from his prominent position on the face of the $10 bill.

Lew’s decision is “sad and shockingly misguided,” wrote Hamilton biographer Ron Chernow.

The Wall Street Journal even compared Lew to Aaron Burr, the vice president to Thomas Jefferson who killed Hamilton in a duel.

Former Treasury officials are expressing their “disappointment” to the current administration directly as well.

Not even a grassroots advocacy group that collected 600,000 names on a petition in favor of putting a woman on the $20 bill and removing former President Andrew Jackson from that note is happy with Lew’s decision. It is still pushing on its website for Lew to put a woman on the $20 bill rather than the $10 bill.

Inside the Treasury Department, there is some handwringing over the decision and the subsequent backlash, according to one source who has spoken to officials in the administration.

All of Lew’s critics have applauded the decision to put a woman on U.S. currency for the first time in over 100 years, but the chorus of voices is also virtually unanimous that Lew should change the $20 bill instead and remove Jackson, the nation’s seventh president, from that bill.

“A better solution is available: Replace Andrew Jackson, a man of many unattractive qualities and a poor president, on the twenty dollar bill,” Bernanke wrote Monday.

Why Alexander Hamilton?
Why not General Grant? Not a great President No Civil War Generals were great. But my favorite bill. Used to say “Give him a couple of pictures of Grant.
Lincoln and Washington stay.
So what is great about Ben Franklin? Discovered lightning and enjoyed the company of French girls in Paris???
What did Andrew Jackson do?
Thomas Jefferson: let’s not get into his relationships with his slaves.
Let’s reissue the “big bucks currency” like the $100,000 bill with Woodrow Wilson on it. Put Hillary on it instead. She would be comfortable there.
July 11, 1804
Standing on the heights of Weehawken, New Jersey, Hamilton and Burr fired their pistols. Some people said that Hamilton purposely missed Burr. Burr’s shot, however, fatally wounded Hamilton, leading to his death the following day. Aaron Burr escaped unharmed.
Always confuse Aaron Burr with Benedict Arnold
How about a picture of current Treasury Secretary Jaci Lew in drag instead?

Audit the Fed?

Barataria - The work of Erik Hare

This is not an ordinary election year in many ways. For one, it’s not really an election year – the actual voting doesn’t happen until 2016. It’s also going to be the first Presidential election without Obama since 2004 as the White House becomes open.

But more importantly, everyone seems to understand that the economy and the politics of this nation are both changing. Stuff is seriously up for grabs.  A desperate cry for attention might make all the difference.

Enter into this a bid for more Congressional oversight of the Federal Reserve, an idea backed by no less than 30 Senators, 3 of which are clearly running for President. It seems like a good idea all around – what can be wrong with more oversight? That depends on what’s being overlooked now, of course, and what can be done with existing law.

Plus, of course, we have the omnipresent…

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