Posted on 08/24/2009 10:07:23 AM PDT by jsh3180
New York—The Federal Reserve Bank of New York announced today that Denis M. Hughes has been designated chairman of the New York Fed’s board of directors by the Board of Governors of the Federal Reserve System for the remainder of 2009. Mr. Hughes is president of the New York State AFL-CIO and has served as a Class C director since January 2006. He has served as deputy chairman since January 2007 and as acting chairman since May. He joined the board as a Class B director in January 2004.
The Board of Governors of the Federal Reserve System has designated Lee C. Bollinger, president of Columbia University, deputy chairman of the New York Fed’s board of directors for the remainder of 2009. Mr. Bollinger was also reappointed as a Class C director for a three-year term that begins January 1, 2010. Mr. Bollinger has served as a Class C director since January 2007.
The New York Fed’s board of directors consists of nine members, three of whom are appointed by the Board of Governors of the Federal Reserve System as Class C directors. The remaining six (three Class A and three Class B directors) are elected by member banks in the Second Federal Reserve District. Class A directors are drawn from the banking community. Class B & C directors are individuals chosen from professions outside the banking community and typically represent business, industry, agriculture, labor and consumers.
I am convinced that if Obama opened concentration camps, the left would go along with it....
It’s getting that ridiculous!
What were his educational accomplishemnts, business qualifications and financial credentials again?
I must’ve missed that.
From the blog, “Economic Policy Journal”:
Hughes is president of the 2.5 million member New York State AFL-CIO.
According to the New York state AFL-CIO site:
As President of the New York State AFL-CIO, Mr. Hughes has made creating a more mobile, active and aggressive statewide labor movement a top priority. He has set a tone for organizing new members into the movement and has led the way in developing proactive legislative and political statewide strategy.
Hughes clearly doesn’t understand basic supply and demand economics, since he “has been successful in helping to pass historic legislation that provides farm workers a minimum wage equal to that of all other workers in the state.”
Almost any economist will tell you that minimum wage laws lead to only one thing, greater unemployment.
This guy is a total union hack. Here’s more from the NYS AFL_CIO site:
Following up on his commitment to grow the labor movement and organize new members, President Hughes led a successful legislative effort to secure unprecedented labor protections and organizing rights for workers who work at casino gaming facilities in this state.
In addition, historic “card check” legislation was passed that recognizes union designation by showing a majority interest through card check.
And this must make Obama’s mouth water:
Hughes led the way for New York State to become the first state in the country to adopt and implement the New Alliance. This historic restructuring initiative consolidates the economic, political and legislative force of the labor movement. The New Alliance allows the labor movement to better utilize its resources in order to secure progressive legislation and help labor supported candidates gain victory on Election Day.
Oh come on now, never ever question the motives of the FED. Don't you know that Republicans got the best deal possible with Giethner as our Treasury Secretary. And I learned all this by the financial gurus of 'intelligentsia' posted right here on FR.
He has a BA in "Labor Studies" from Empire State College.
> He has a BA in “Labor Studies” from Empire State College.
Other than his mafia connections, money laundering, extortion, and grunting, what are his distinguishing accomplishments in business and finance.
If it were actually true, it would go to show the urgent need to disband the incestuous, robber-class clique known as the Federal Reserve.
Let’s not overlook the other stumble bum mentioned, Mr. Bollinger...the guy who could not control the students who shouted down the Minitemen at Columbia yet did all in their power to allow leftists like the pigmy President of Iran to chat.
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