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Herbie: The favorite son

This is the big one, it rocks the country, it rocks the Beltway, it rocks the bond market and it sure as fate rocks all those lardass VPs in head office, so on no account let word of it leak out on those canasta afternoons of yours, consider it classified Shred Before Reading.

The trail leads to 21st and Constitution, stately abode of the US Federal Reserve and of its feline chairman Alan Greenspan, but for me it begins with a call from Representative Catwiesl, he wishes to know how I rate the Draft Felix Rohatyn bandwagon, I tell him it passes me by but I figure the sage of Lazard Frères is pushing it.

Catwiesl explains how as the President prepares to run again he feels the urgent need for friendly faces in the Fed, he needs some guys there who believe in growth and prosperity and handing out the money to the voters, at least until the second Tuesday in November, and he does not wish to be tripped up in the home straight by some pedant who takes his remit literally and gives rates a hoick just to be safe, campaigns are lost for less.

He arranges to install some professor named Blinder who sees the big picture, but somehow this prof gets seen off, and scoots back to Princeton for fear that his tenure runs out, so now the idea is to send for Felix and to boost him as the guy who saves New York when it is bust, or buster than usual.