John, it has been pointed out to you over and over and over and over that Cain was a REGIONAL Fed president- this is not the same as the
Regional Presidents have NOTHING to do with monetary policy, currency valuation, or any of the things that we associate with some candidates complaining about the Fed. The regional Fed banks have the role of clearing checks, helping banks move money between each other, and ensuring that they all comply with regulations and file the proper paperwork. Their roles are legal and legitimate.
They are about as related to Bernakie as Federal Express does. Just because it has Fed in the name, doesn’t mean it is the same.
Cain’s REGIONAL Presidency role is a resume boost.
I don’t know why, but my first sentence was cut off..
anyway- REGIONAL Federal Reserve Bank Presidents are not the same as the Chairman of the Federal Reserve Board.
John334 just joined last month. I don’t take him seriously.
Thanks for pointing the regional part out—first I’ve heard of it.