- Posted October 11, 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
Obama Appoints Janet Yellen-Her Fed Will Print Money and Help Main Street!
She has pedigree. Her husband is Nobel laureate George Akerlof, the scourge of efficient markets theory. She co-authored "Market for Lemons", the paper that won the prize."
Now, we agree, President Obama. Apparently, Larry Summers, was rumored to be the President's first choice but pressure from Liberals and over thirty Democratic Senators Mad Obama reconsider the man that helped engineer the financial collapse in 2008 with his refusal to listen to Brooksley Born on the danger of 'dark derivatives.
I believe that Brooksley Born would have made a great Fed Chairman. She is the subject of a PBS documentary called, "The Warning", where the reasons for the financial collapse were foreseen by Born, yet Summers and Greenspan refused to listen to her.
The other good choice would have been Sheila Bair.
"Sheila Colleen Bair served as the 19th Chairperson of the U.S. Federal Deposit Insurance Corporation (FDIC). She was appointed to the post for a five-year term on June 26, 2006 by George W. Bush. Bair served as a member of the FDIC Board of Directors through July 8, 2011."
But Janet Yellen? Another historic appointment that breaks the ceiling for women and is a good choice for American workers for a change rather than what's just good for Wall Street.