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Politicizing the Fed -- Congress seeks more control over the 12 regional banks (GRAPHIC WARNING!)
The Wall Street Journal ^
| 06-14-10
| The Wall Street Journal Editorial Staff
Posted on 06/13/2010 5:57:59 PM PDT by GOP_Lady
For 97 years the 12 regional banks of the Federal Reserve system have operated relatively free of political interference from Washington. The looming financial reform bill threatens that independence, not least through an effort to impose new presidential appointees at the regional banks.
The biggest underreported threat comes from Subtitle I, Section 1801 of the House financial reform bill titled "Inclusion of Minorities and Women; Diversity in Agency Workforce." Sponsored by California Democrat Maxine Waters, the provision requires each federal financial agency, the Fed Board of Governors and the 12 regional Fed banks to "establish an Office of Minority and Women Inclusion."
So what else is new, you say? Don't the feds already dictate racial and gender hiring? Yes, they do, through the Equal Employment Opportunity Commission and assorted other federal laws. As a matter of racial and gender diversity, the Waters provision is at best redundant.
(Excerpt) Read more at online.wsj.com ...
TOPICS: Editorial; Government; News/Current Events; Politics/Elections
KEYWORDS: bank; banks; democrat; democrats; economy; fed; federalreserve; impeachobama; obama; obamaeconomy; ruiningamerica; socialism; socialists; spreadingthewealth; thefed; waters
1
posted on
06/13/2010 5:58:00 PM PDT
by
GOP_Lady
To: 506Lake; AdvisorB; antivenom; angry elephant; Bernard; Blonde; BornToBeAmerican; boxlunch; ...
|
To be added or removed from the "The Wall Street Journal" Ping List, FReepmail GOP_Lady. |
2
posted on
06/13/2010 5:58:25 PM PDT
by
GOP_Lady
To: GOP_Lady
Oh my. She is trying to replace HT.
3
posted on
06/13/2010 5:59:45 PM PDT
by
beckysueb
(January 20, 2013. When Obama becomes just a skidmark on the panties of American history.)
To: GOP_Lady
I got your minorities to take over the Federal Reserve right here.
4
posted on
06/13/2010 6:02:59 PM PDT
by
KarlInOhio
(I am so immune to satire that I ate three Irish children after reading Swift's "A Modest Proposal")
To: GOP_Lady
They want to do to the regional Feds what they did with Fannie and Freddie — expand the political spoils system, wreak havoc on banking and the economy while lining their pockets with contributions and bribes all the while setting up favored politically-connected hacks as bankers for outrageous compensation that would make Wall Street blush with accounting gimmicks that would embarrass Arthur Anderson. Just ask former Fannie Mae CEO Franklin Raines.
To: GOP_Lady
Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
6
posted on
06/13/2010 6:13:14 PM PDT
by
The Comedian
(Evil can only succeed if good men don't point at it and laugh.)
To: The Comedian
Wow, where did you get the picture of her from when she was younger and more attractive?
7
posted on
06/13/2010 6:20:49 PM PDT
by
Munz
(All tyranny needs to gain a foothold is for people of good conscience to remain silent.)
To: Munz
Wow, where did you get the picture of her from when she was younger and more attractive? It's from when she didn't speak with a Negro dialect (unless she wanted to), and was clean and articulate.
She was "high yellow" then as well.
But that's the past.
Frowning takes 68 muscles.
Smiling takes 6.
Pulling this trigger takes 2.
I'm lazy.
8
posted on
06/13/2010 6:27:19 PM PDT
by
The Comedian
(Evil can only succeed if good men don't point at it and laugh.)
To: GOP_Lady
If getting congress involved will destroy the Federal Reserve and the Reserve banks, them more power to them.
9
posted on
06/13/2010 6:55:06 PM PDT
by
Leisler
("Over time they create a legal system that plunders and a moral code that glorifies it." F. Bastiat)
To: KarlInOhio
10
posted on
06/13/2010 7:08:29 PM PDT
by
Nat Turner
(Escaped from NY in 1983 and not ever going back....)
To: GOP_Lady
Graphic Warning indeed.
Obama — stau out of it.
11
posted on
06/13/2010 7:46:15 PM PDT
by
Salvation
("With God all things are possible." Matthew 19:26)
To: GOP_Lady
Sounds like the Soviet Union’s policy of having a political officer at every industry and office.
Maybe Glenn Beck is not so crazy?
12
posted on
06/13/2010 8:20:51 PM PDT
by
happygrl
(Continuing to predict that 0bama will resign)
To: GOP_Lady
She is a raging lunatic and a moron.
13
posted on
06/13/2010 9:52:06 PM PDT
by
wac3rd
(Gulf oil spews...Obama sues.)
To: GOP_Lady
LOL, the WSJ bewails the Congress actually taking responsibility for assuming one of its few Constitutional powers under Article I, Section 8? Really?
To coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standard of Weights and Measures;
Looks legit to me. Delegating that responsibility to the Fed was clearly not.
14
posted on
06/13/2010 10:43:22 PM PDT
by
Carry_Okie
(Grovelnator Schwarzenkaiser, fashionable fascism one charade at a time.)
To: GOP_Lady
And a very wonderful looking lady she is, too
To: GOP_Lady
This is one of the controlling elite?
To: The Comedian
The mods ought to delete that post of yours. Denninger has some good quotes on this and without the sensless snarkiness.
17
posted on
06/14/2010 12:15:22 PM PDT
by
junta
(S.C.U.M. = State Controlled Unreliable Media)
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