|This is the kind of thing that really makes me mad. Seriously? Are they for real?
Can you believe that, only four years after Wall Street and the Big Banks brought our economy to its knees, many of those same bank CEOs are helping to shape policy at the Federal Reserve?
Talk about the fox guarding the hen house. These executives are serving as directors of the very same Federal Reserve that bailed them out in 2008 -- and is supposed to regulate them today.
It's unbelievable, and we've got to do everything we can to end these outrageous conflicts of interest.
Please join us, and our friends at Democracy for America, to become a citizen co-sponsor of the Federal Reserve Independence Act -- and help us end these huge conflicts of interest at the Fed!
The General Accounting Office has detailed instance after instance of top executives of financial institutions and corporations who could have used their influence as Federal Reserve directors to financially benefit their firms -- including board members who were affiliated with banks and companies that received near-zero-interest emergency loans from the Federal Reserve during the financial crisis.
The American people deserve a Federal Reserve that is truly independent from the financial institutions it supervises and oversees. That’s why our Federal Reserve Independence Act would:
• Prohibit banking executives or employees of companies regulated by the Fed from serving on the Federal Reserve’s board of directors;
It is time for change at the Fed -- real change. Thank you for joining us and helping to make that change happen.
Bernie Sanders and Barbara Boxer
|The people in the Fed, appointed by Bush, kept in office by President Obama. The time for change was January 2009. The President had the power to clean house, but for some mysterious Wall Street reason he didn't. I love Bernie Saunders, but this email won't change anything. At least he didn't ask for money. I also liked this article, Roberto Unger, Obama's Former Harvard Law School Professor, Says The President 'Must Be Defeated'|
|I'm not sure what motivated his professor to speak out, but I liked this,
"the Democratic Party proposes no new direction."
"Give the bond markets what they want, bail out the reckless so long as they are also rich, use fiscal and monetary stimulus to make up for the absence of any consequential broadening of economic and educational opportunity, sweeten the pill of disempowerment with a touch of tax fairness, even though the effect of any such tax reform is sure to be modest," he said. "This is less a project than it is an abdication."
The professor went on to list his complaints: