We are governed by morons, Part 3

The Senate Banking Committee chairman, Chris Dodd, opened his mouth yesterday and sent bank stocks plummeting briefly when he suggested that bank nationalization would probably be necessary.

The senator’s stupid comment is a reminder that it is hard to overstate the degree to which incompetence can be found in the overpaid senior levels of our life, whether in the corporate management suite or the halls of government.

Never assume that the chairman of a legislative banking committee is an expert on banking, or the chief executive of a bank fully understands the investments his own institution is getting into. In real life there is no “Mission: Impossible,” nor even a “West Wing.” In real life, many key jobs are filled by people who don’t really know what they are doing.

H/T: Instapundit