AFL CIO Cheif named chairman of Federal Reserve

SteamWake · 08-26-09, 10:24 AM

Okay what in the hell !

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

Quote:

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 · 08-27-09, 01:20 AM

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 · 08-27-09, 08:33 AM

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 · 08-27-09, 08:39 AM

Thug?

SteamWake · 08-27-09, 09:21 AM

Quote:

Originally Posted by Tchocky

Thug?

AFL CIO ?

The two are nearly interchangeable.

Tchocky · 08-27-09, 09:23 AM

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

GoldenRivet · 08-27-09, 09:31 AM

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 · 08-27-09, 09:47 AM

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

Max2147 · 08-27-09, 10:34 AM

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 · 08-27-09, 11:00 AM

Quote:

Originally Posted by 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.

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.

08-27-09, 11:06 AM

Quote:

Originally Posted by 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.

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

Tchocky · 08-27-09, 11:12 AM

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

MARXISTS

08-27-09, 01:20 AM	#2
magic452 Sea Lord Join Date: Sep 2007 Location: Reno Nevada USA Posts: 1,860 Downloads: 85 Uploads: 0	It's called paying your just debts, a time honored tradition in Washington. No doubt the same way his predecessor got the job. Magic __________________ Reported lost 11 Feb. 1942 Signature by depthtok33l

08-27-09, 08:33 AM	#3
SteamWake Rear Admiral Join Date: Mar 2005 Posts: 13,224 Downloads: 5 Uploads: 0	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. __________________ Follow the progress of Mr. Mulligan : http://www.subsim.com/radioroom/showthread.php?t=147648

08-27-09, 08:39 AM	#4
Tchocky Navy Seal Join Date: Jul 2004 Posts: 5,874 Downloads: 6 Uploads: 0	Thug? __________________ [SIGPIC][/SIGPIC]

08-27-09, 09:23 AM	#6
Tchocky Navy Seal Join Date: Jul 2004 Posts: 5,874 Downloads: 6 Uploads: 0	Does that apply to the 10 million+ members as well? __________________ [SIGPIC][/SIGPIC]

08-27-09, 09:31 AM	#7
GoldenRivet Subsim Aviator Join Date: Mar 2007 Location: Texas Posts: 8,726 Downloads: 146 Uploads: 0	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. __________________

08-27-09, 09:47 AM	#8
Frame57 Sea Lord Join Date: May 2008 Location: 1300 feet on the crapper Posts: 1,860 Downloads: 2 Uploads: 0	Yep, The Marxist likes criminals and thugs. It is the Chicago politics on a broader band. __________________ "My Religion consists of a humble admiration of the illimitable superior spirit who reveals himself in the slight details we are able to perceive with our frail and feeble minds." Albert Einstein

08-27-09, 10:34 AM	#9
Max2147 Seasoned Skipper Join Date: Feb 2009 Posts: 714 Downloads: 0 Uploads: 0	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.

08-27-09, 11:12 AM	#12
Tchocky Navy Seal Join Date: Jul 2004 Posts: 5,874 Downloads: 6 Uploads: 0	Looks like he'll be the next Sec Treas then. MARXISTS __________________ [SIGPIC][/SIGPIC]