David Malpass For Senate!

I know this seems to be a political post, but there are business aspects to this headline.

This morning, on CNBC, it was announced that "a former chief economist for Bear Stearns has filed to run for a Senate seat."

Initially, I wondered if they were referring to their CNBC colleague, Larry Kudlow. But with his age and substance abuse/rehab background, I thought this was unlikely.

Turns out it's the well-respected economist David Malpass. He has filed to run for the New York Senate seat currently filled by a political appointee.

When asked why he'd be more effective as one Senator among 100, as opposed to continuing to freely express himself as an independent economist, Malpass earnestly stated that he felt it was important to make that Senate seat vote correctly. As an example, he criticized Hillenbrand's recent consent to raise the debt ceiling. A vote Malpass characterized as reaching into every American family's home and slapping a higher tax on its children and grandchildren, in order to eventually service and retire the extra trillions of debt recently enabled by Congress.

Further, Malpass alluded to being able to provide better economic knowledge in the Senate than currently exists.

It should be a very interesting race to follow. As a Republican, Malpass already has an uphill fight. Then, again, with the state's horrendous financial mess as a backdrop, it's just possible even New York Democrats will vote for national fiscal restraint, in the person of Mr. Malpass.

Put another way, if we have a second-rate standup comic in the Senate, albeit under a cloud of election-theft, why not a respected economist in a straight-up, legitimate victory?