Peter Diamond Wins Nobel Prize, Obama's Fed Nominee

This Nobel is probably only going to hurt him win the approval of Senate Republicans: Peter Diamond, one of the three economists to win a Nobel prize on Monday, was nominated to the Federal Reserve by President Obama, but has not been confirmed because Senate Republicans have held up his nomination. Diamond and his co-winners’ research focuses on gaps between classical economic theory and the real world—for example, why people can have difficulty finding a home to buy even when there are many unsold properties on the market. He was also a mentor to Federal Reserve Chairman Ben Bernanke.