- Posted September 17, 2013 by
Watertown, New York
This iReport is part of an assignment:
- Congress, Get Off the U.S. Post Office's Back! Small Business Needs Them
- Obamacare, U.S. Foreign Policy, Immigration and Our Economy- Journalism’s First Responsibility Is To Tell UsThe Truth
- Labor's "Surrender Monkeys"-23,000 People Have Applied For 600 Low-Wage Positions
- Iranian Sanctions Never Hurt Iran's Government; They Hurt Iran's People
- Democrats Hold Our Leadership Accountable, Republicans Don't
Sheila Bair For Fed Chairman- But Larry Summers and Ray Kelly, Mr. President? Business as Usual?
Thinking people are glad that Larry Summers withdrew his name from consideration as Chairman of the Federal Reserve Bank. But how was he being considered in the first place?
Brooksley Born, in the PBS documentary, 'The Warning', pointed out exactly what would happen were derivatives allowed to be traded with no regulation.
Born was rather prophetic in her assessment but Summers, Greenspan, and Rubin all shut her down. Now, years later we see who was correct.
It wasn't Larry Summers. In fact Summers, cost Harvard University a billion dollars when interest rates went in the wrong direction to what Summers had predicted.
Then we have Obama's other choice for head of Homeland Security- Ray Kelly.
Kelly's a 'good soldier'. He'll do what he's told as we see he did for Bloomberg when he used the NSA's information from the Homeland Security to shut down Occupy Wall Street protesters. Is it a coincidence that police in NYC knew exactly where to go and how to curtail the OWS's embarrassment to the big banks and Wall Street guys that were at the center of this country's financial collapse? Hardly.
I thought things would be different when Obama took the oath of office. Now, it appears as though it's 'business as usual' for the big banks and the rubber stamp of a government we have for corporate interests.
Sheila Bair would make the best choice for Federal Reserve Chairman. She's been fair handed and competent.