AFL CIO Cheif named chairman of Federal Reserve

[SteamWake]

Okay what in the hell !

Its a very short article but... good lord... what the hell !?

The Federal Reserve chose a labor leader to succeed a former Goldman Sachs executive as the chairman of the Federal Reserve Board of New York's private-sector board of directors.

http://online.wsj.com/article/SB125112547653253819.html

[magic452]

It's called paying your just debts, a time honored tradition in Washington.
No doubt the same way his predecessor got the job.

Magic

[SteamWake]

Very much so, but to put a union thug in control of the Federal Reserve is an astonishing move and fits another piece in the puzzle.

I find it very disturbing. I cant see why others do not.

[Tchocky]

Thug?

[SteamWake]

Thug?

AFL CIO ?

The two are nearly interchangeable.

[Tchocky]

Does that apply to the 10 million+ members as well?

[GoldenRivet]

i have to say, i resigned last year from AMR.

it was the opinion of many pilots and flight attendants and Mechanics there that the management style was dependent upon spreading fear and intimidation.

we once had an arbitrator say that if you look up bad employee managment relations in the dictionary there would be the AA logo.

given some of the things i have seen happen to members of the work force there... i would agree with that statement.

because of this experience i am mostly pro-union. My union has pulled a lot of peoples' bacon out of the fire.

with that said, i know that not all unions are created equally.

but his appointment to such a position brings the larger picture into a bit more focus.

[Frame57]

Yep, The Marxist likes criminals and thugs. It is the Chicago politics on a broader band.

[Max2147]

This story would be laughable if it was true. Fortunately, it's not. Ben Bernanke is the chairman of the Federal Reserve, and Obama just re-nominated him for another term.

The AFL-CIO guy will head the New York branch of the Fed, a completely different post that is basically irrelevant, since Bernanke is the one who sets policy.

Also, I don't see how this has anything to do with Obama. The AFL-CIO guy was appointed by the Fed's Board of Governors, not Obama. The Board of Governors has 4 Bush appointees and only 1 Obama appointee. Since Board members basically never serve more than 1 term, they're not beholden to Obama in any way.

[SteamWake]

This story would be laughable if it was true. Fortunately, it's not. Ben Bernanke is the chairman of the Federal Reserve, and Obama just re-nominated him for another term.

The AFL-CIO guy will head the New York branch of the Fed, a completely different post that is basically irrelevant, since Bernanke is the one who sets policy.

Also, I don't see how this has anything to do with Obama. The AFL-CIO guy was appointed by the Fed's Board of Governors, not Obama. The Board of Governors has 4 Bush appointees and only 1 Obama appointee. Since Board members basically never serve more than 1 term, they're not beholden to Obama in any way.

In the current state of politics no one takes a dump without approval of the white house. I gaurentee you in some way the Obama administration had their hand in this.

Regardless of his position within the federal goverment a union member let alone a chairman has no buisness being there.

[CastleBravo]

This story would be laughable if it was true. Fortunately, it's not. Ben Bernanke is the chairman of the Federal Reserve, and Obama just re-nominated him for another term.

The AFL-CIO guy will head the New York branch of the Fed, a completely different post that is basically irrelevant, since Bernanke is the one who sets policy.

Also, I don't see how this has anything to do with Obama. The AFL-CIO guy was appointed by the Fed's Board of Governors, not Obama. The Board of Governors has 4 Bush appointees and only 1 Obama appointee. Since Board members basically never serve more than 1 term, they're not beholden to Obama in any way.

Hardly irrelevant, Tim 'I'm a tax cheat' Geitner held that post until appointed Treasury Secretary.

[Tchocky]

Looks like he'll be the next Sec Treas then.

MARXISTS