even someone who won a nobel prize for economics wasn't good enough to be on the board of governors of the federal reserve system, according to the republicans. so peter diamond withdrew his nomination. >> if you go to the website of the federal reserve system you will find its mission statement. first up, conducting the nation's monetary policy by influencing the monetary and credit conditions in the economy in pursuit of maximum employment, stable prices, and moderate long-term interest rates. pursuit of maximum employment. that sounds good about now. among the areas of expertise a professor peter diamond, nobel prize winning economist is labor markets. employment, and, yes, as harry reid said just there, professor diamond had to withdraw his nomination to be a member of the federal reserve board of governors this year because republicans in the senate refused to allow a vote on his
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