Posted on 08/24/2009 7:57:15 PM PDT by RDTF
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.
Columbia University President Lee Bollinger, shown in July, was named deputy chairman of the New York Fed. Denis Hughes, president of the New York state branch of the AFL-CIO, had been serving as acting chairman of the New York Fed board since May, when Stephen Friedman stepped down from the position.
Mr. Friedman, a former Goldman Sachs Group Inc. chairman and adviser to President George W. Bush, had faced questions about his purchases of Goldman stock while serving on the New York Fed's board.
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(Excerpt) Read more at online.wsj.com ...
Same Same
Goldman is full of as many Marxists as any labor union.
Make no mistake. The Internationalists are in the midst of a coupe. Union thugs, Democrat useful idiots and the clueless are all on board. This is serious. The NY Fed run by a union thug?!?!?!
Another union knuckledragger fiddling around with the economy and our money. Nice job there BO!
OMG!
(no link)
Bollinger on the Spot
New York Sun, The (NY) - Friday, March 24, 2006
Author: Curt A. Levey
Columbia University and its president, Lee Bollinger , have some explaining to do. The university recently announced that its law school had awarded a coveted faculty position to Olatunde “Olati” Johnson, a woman with a scandal-plagued connection to Mr. Bollinger .
Ms. Johnson played a central role in the two-year-old Senate scandal known as Memogate, which involved, most notoriously, her recommendation that the judicial confirmation process be rigged to influence the outcome of a pair of pending federal court cases. The cases were the landmark challenges to affirmative action at the University of Michigan, and the defendant was the university’s president at the time, Lee Bollinger . That Ms. Johnson should now find herself working under Mr. Bollinger raises questions about a conflict of interest and a possible payoff for services rendered.
The scandal came to light in late 2003 with the disclosure of memos prepared by Ms. Johnson and other Democratic staffers on the Senate Judiciary Committee. The memos - whose authenticity was never denied - disclosed that Senate Democrats were cynically manipulating the judicial confirmation process, and that liberal outside interest groups were calling the shots on which of the president’s nominees would be blocked. It was all very unseemly, though probably not unethical - with one exception.
In April 2002, Ms. Johnson recommended a delay in the Judiciary Committee’s hearing for Julia Smith Gibbons, a nominee to the U.S. Court of Appeals for the Sixth Circuit, the court that was poised to decide the University of Michigan cases. Johnson, who was working for Senator Kennedy (a Democrat of Massachusetts), was surprisingly blunt about the reason for the delay: “The thinking is that the current 6th Circuit will sustain the affirmative action program, but if a new judge with conservative views is confirmed before the case is decided, that new judge will be able, under Sixth Circuit rules, to review the case and vote on it.”
Ms. Johnson conceded that “the 6th Circuit is in dire need of additional judges” and that Ms. Gibbons was an “uncontroversial” nominee. And she recognized the ethics problem, noting that she and another Kennedy staffer “are a little concerned about the propriety of scheduling hearings based on the resolution of a particular case.” Nonetheless, Ms. Johnson recommended a delay because “the Michigan case is important.”
Ms. Johnson’s recommendation grew out of a request by her previous boss, Elaine Jones, president of the NAACP Legal Defense and Educational Fund. Ms. Jones and Ms. Johnson had a big interest in the outcome of the Michigan cases. Ms. Jones was serving as counsel to an intervening party seeking to defend Lee Bollinger from the charge that his university’s race-based undergraduate admissions system was unconstitutional. Ms. Johnson was her co-counsel on the case until moving to the Senate months earlier. It turned out to be a fortuitous move, with Ms. Johnson now in a position to help her former boss and clients, as well as Mr. Bollinger .
(snip)
see tagline.
i'm guessing the false assumptions in this comment will be laid bare before very long.
A union boss in the Fed. F0RKING incredible. You might as well have mechanics doing surgery.
I did not say it was a great idea.
However, Goldman IS full of Marxists.
Just check out where there political contributions go!
Obama is just putting the ‘working’ as in National Socialist Workers Party.
ping
There should be arrests of these fools once we kick them out.
“There should be arrests of these fools once we kick them out.”
Arrests Hell. Guillotines!
[snip]
The banksters not only ripped everyone off and got bailed out after doing it by threatening to blow up the economic world BUT THEY ARE STILL RIPPING EVERYONE OFF TODAY and using a small piece of the grift to continue to buy Congress at the same time!
Not a damn thing has changed, except that we are lurching closer and closer to the cliff of national insolvency and both economic and political failure as a nation. The inability to fund the operating expenses of our government is quite possible. Social Security and Medicare have gone into deficit years earlier than expected and these programs have no money - they have only "IOUs" and to turn them back into money Treasury will have to sell more bonds.
But who will buy them? The Chinese? Why? Bernanke is lying about monetizing the debt - in fact he lied under oath - but the currency markets are not fooled.
The dollar is in the toilet and threatening to break all support levels. If it does, it may collapse to as low as 40, which will in turn rocket oil north to $300 or more and gasoline to $10! If that happens it is too late to stop it and too late to reverse course. What we now know as a middle class will be reduced to sheer destitution - literal destitution. What are the odds that, under this scenario, some of the billions of rounds of ammunition that have been purchased and stockpiled by Americans who have gotten rather "uneasy" over where our nation is going find their way into unlawful use? Rather high I wager. After all, the banksters may have bought Congress and the White House but they don't own the guns, and a desperate, hungry man is a dangerous man, especially when he was formerly a middle-class American with a good job who had his future, and that of his wife and children ruined as a direct consequence of the lawless, conniving acts of a handful of "elites" who ripped him off twice - first with his "OptionARM" that gnawed his arm off and then again by going to Washington, extorting more than $12 trillion in bailouts, handouts and guarantees with which they paid themselves bonuses instead of clearing their balance sheets!
[snip]
Total leftist scum.
When the dollar sinks to new lows and a $5 bill won't buy a decent loaf of bread . .
. . perhaps that's when ordinary Americans will turn off the tube, read some books, call their representatives in Washington and . .
. . End the Fed!
lol
Naming a journeyman electrician to head up the NY Fed is just a recognition of the singular importance of keeping the “print” button working...
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