Well, tonight's endorsement of Father of the Economic Collapse Alan Greenspan should be the final nail in the coffin of Herman Cain's electoral prospects.
Moderator: Which Fed Chairman has been most effective.
Cain: Greenspan [would serve as model] for Federal Reserve chairman. We should not eliminate the Fed, but fix the Fed.
Paul: Greenspan was a disaster. [Applause]. Greenspan kept interest rates too low to long. Paul Volcker was the best chair because he tried to address inflation. Bernanke compounds the problem started by Greenspan.
Cain was previously Chairman of the Board of the Federal Reserve Bank of Kansas City, which I'm led to believe is some sort of ceremonial position for business leaders who have absolutely no idea what the f the Fed does. Which is the charitable interpretation: he's an idiot, not a conspirator.
Cain doesn't have the excuse that he was unprepared or shouldn't have known. He worked for the Fed during the Greenspan bubble-blowing years, and he has seen the financial and economic collapse in Greenspan's wake. This man is not qualified to be dogcatcher.