imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Calendar Publish RSS
Features
latest news
best of news
syndication
commentary


KILLRADIO

VozMob

ABCF LA

A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List

LAAMN List




IMC Network:

Original Cities

www.indymedia.org africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech

Surviving Cities

www.indymedia.org africa: canada: quebec east asia: japan europe: athens barcelona belgium bristol brussels cyprus germany grenoble ireland istanbul lille linksunten nantes netherlands norway portugal united kingdom latin america: argentina cmi brasil rosario oceania: aotearoa united states: austin big muddy binghamton boston chicago columbus la michigan nyc portland rochester saint louis san diego san francisco bay area santa cruz, ca tennessee urbana-champaign worcester west asia: palestine process: fbi/legal updates process & imc docs projects: radio satellite tv
printable version - js reader version - view hidden posts - tags and related articles

Obama Nominates Three Fed Governors

by Stephen Lendman Tuesday, Jan. 14, 2014 at 8:19 PM
lendmanstephen@sbcglobal.net

Fed

Obama Nominates Three Fed Governors

by Stephen Lendman

It's official. A White House statement headlined "President Obama Announces his Intent to Nominate Three to Serve on the Board of Governors of the Federal Reserve System."

Nominees include Stanley Fischer as vice chairman, Lael Brainard as governor, and Jerome Powell for a second term as governor.

None deserve appointments to local school or other municipal boards. Giving Wall Street favorites money creation power is unconstitutional.

A recent article discussed 100 years of financial terrorism. Monied interests run things. They operate lawlessly.

They're self-serving. They're predatory crooks. They benefit at the expense of most Americans.

Their record is deplorable. It includes grand theft, rampant speculation, market rigging, booms, busts, inflation, deflation, instability, crises, recessions, depressions, deprivation and despair.



Returning money power to public hands where it belongs is essential. Not as long as corrupt politicians work in league with Wall Street. Not as long as they benefit by doing so.

Obama's announcement made saints out of scoundrels. He lied, saying:

"These three distinguished individuals have the proven experience, judgment and deep knowledge of the financial system to serve at the Federal Reserve during this important time for our economy."  

"Stanley Fischer brings decades of leadership and expertise from various roles, including serving at the International Monetary Fund and the Bank of Israel."  

"He is widely acknowledged as one of the world's leading and most experienced economic policy minds and I'm grateful he has agreed to take on this new role, and I am confident that he and Janet Yellen will make a great team."  

"Lael Brainard has served as one of my top and most trusted international economic advisors during a challenging time not just at home, but for our global economy as well, and her knowledge of international monetary and economic issues will be an important addition to the Fed."  

"I'm also thankful that Jerome Powell, who has proven to be an effective and wise voice at the Fed, has agreed to serve a second term. I'm confident that these individuals will serve their country well."

For sure they're self-serving. They serve Wall Street. They serve other corporate interests. They serve America's super-rich. They serve corrupt politicians.

They do it at the expense of popular interests. They wreck economic conditions. They do it to enrich bankers. It's longstanding practice.

It's been ongoing for over 100 years. It's much worse now than ever. Fed governors are appointed to steal. Multi-trillions of dollars are involved.

Wall Street never had it so good. Casino capitalism flourishes. Grand theft is greater than ever. Class warfare harms ordinary people.

A handful of powerful winners hurts most others. Wealth disparity is more extreme than ever. Exploiting ordinary people for profit is official policy.

Bipartisan complicity endorses what demands condemnation. Obama is a bought and paid for Wall Street tool.

No one ascends to the nation's highest office any other way. Gore Vidal explained saying:

"By the time a man gets to be presidential material, he's been bought ten times over."

Fed governors are reliable Wall Street tools. Otherwise they wouldn't be appointed. A previous article discussed Stanley Fischer.

He's a deplorable choice. He ran the Bank of Israel. It serves monied interests. It operates like the Fed. He's AIPAC's man. He's Israel's man.

He's a dual US/Israeli citizen. He's a Zionist zealot. Imagine one influencing US monetary policy. Imagine harming ordinary people at the same time.

As Bank of Israel governor, Fischer helped AIPAC's Iran sanctions campaign. He'll operate the same way in Washington.

He'll support America's imperial wars. He'll make them more possible. He'll help enrich war profiteers.

He'll do whatever Wall Street wants. He'll give AIPAC more control over US foreign policy. He'll back the worst of wrong over right.

He's new Fed vice chairman. Senate confirmation is automatic. It's virtually rubber-stamp.

Lael Brainard is another longstanding Washington insider. She held various Clinton administration posts. She was Deputy National Economic Advisor.

She was chair of the Deputy Secretaries Committee on International Economics. She was Deputy Director of the National Economic Council.

She was involved in various global economic scams. They included the 1997 Asian financial crisis. Washington's dirty hands complicit with predatory investors bore full responsibility.

So-called Tiger economies embarrassed America's free market model. They flourished successfully. They avoided IMF debt entrapment. They were cut down to size.

They were looted. They needed IMF help. Painful structural adjustments followed. State enterprises were sold at fire sale prices. Millions lost jobs. The entire region suffered. Predatory capitalism works this way.

Brainard was directly involved. She was Obama's Under Treasury Secretary for International Affairs. She worked closely with Tim Geithner.

She was complicit in his crimes. They were high crimes. They helped Wall Street fleece America. They let crooked bankers steal multi-trillions of dollars. They're still stealing.

Brainard's appointment helps them steal more. She'll do so as a Fed governor. Her mandate is grand theft.

Her husband, Kurt Campbell, was Obama's Assistant Secretary of State for East Asian and Pacific Affairs. He served from June 2009 through early February 2013.

He currently heads The Asia Group. It's a Washington-based strategic and capital advisory firm.

Previously he headed the Center for a New American Security (CNAS). It's a right wing think tank.

Prior to CNAS, he held the Center for Strategic and International Studies (CSIS) National Security Policy Henry Kissinger Chair.

Most recently, Brainard was Brookings Institution Global Economy and Development Program vice president.

She held the Bernard Schwartz Chair in International Economics. She directed the Brookings Initiative on Competitiveness.

Earlier she taught applied economics at MIT. She worked on West African micro-finance at McKinsey & Co.

Jerome Powell is one of many Washington insiders. On May 25, 2012, he was appointed to fill an unexpired Fed Board of Governors term. On January 31, it ends.

Prior to his appointment, he was a visiting Bipartisan Policy Center visiting scholar. It's a well-connected Washington think tank.

It was founded by former Senate Majority Leaders Howard Baker, Tom Daschle, Bob Dole and George Mitchell.

It focuses on major issues. They include economic policies, national security, energy, healthcare, and housing among others.

It supports Social Security, Medicare, Medicaid, and other social benefit cuts. It wants ordinary people forced to survive best they can. It wants America's resources directed to corporate interests and super-rich elites.

From 1997 - 2005, Powell was a Carlyle Group partner. It's a major war profiteering firm. It profits from death and destruction. It's one of America's most disreputable arms dealers.

GHW Bush served earlier as senior advisor. Other top officials included former UK Prime Minister John Major, former US Defense Secretary Frank Carlucci, and former Secretary of State/Treasury Secretary James Baker.

Powell was GHW Bush's Treasury Undersecretary. His responsibilities included policies related to financial institutions, the Treasury debt market and related areas.

Earlier he was a New York-based Dillon Read investment banker. He served as senior vice president.

Confirmation for all three nominees is automatic. It's virtually rubber-stamp. Unless otherwise indicated, they'll begin their terms on February 1.

They're licensed to steal. As much as possible. They're experts at it. They're up to the task.

Their mandate is making Wall Street crooks richer. It's doing it at the expense of ordinary Americans. It's impoverishing growing millions at the same time.

Wall Street crooks work this way. Fed governors serve at their behest. So do chairmen and chairwomen. They're partners in crime.

Stephen Lendman lives in Chicago. He can be reached at lendmanstephen@sbcglobal.net.

His new book is titled "Banker Occupation: Waging Financial War on Humanity."

http://www.claritypress.com/LendmanII.html

Visit his blog site at sjlendman.blogspot.com.

Listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network.

It airs Fridays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.

http://www.progressiveradionetwork.com/the-progressive-news-hour

Report this post as:

Local News

Change Links September 2018 posted S02 10:22PM

More Scandals Rock Southern California Nuke Plant San Onofre A30 11:09PM

Site Outage Friday A30 3:49PM

Change Links August 2018 A14 1:56AM

Setback for Developer of SC Farm Land A12 11:09PM

More problems at Shutdown San Onofre Nuke J29 10:40PM

Change Links 2018 July posted J09 8:27PM

More Pix: "Families Belong Together," Pasadena J02 7:16PM

"Families Belong Together" March, Pasadena J02 7:08PM

Short Report on the Families Belong Together Protest in Los Angeles J30 11:26PM

Summer 2018 National Immigrant Solidarity Network News Alert! J11 6:58AM

Watch the Debate: Excluded Candidates for Governor of California M31 5:20AM

Change Links June 2018 posted M28 7:41AM

The Montrose Peace Vigil at 12 Years M22 8:01PM

Unity Archive Project M21 9:42AM

Dianne Feinstein's Promotion of War, Secret Animal Abuse, Military Profiteering, Censorshi M17 10:22PM

CA Senate Bill 1303 would require an independent coroner rather than being part of police M10 9:08PM

Three years after OC snitch scandal, no charges filed against sheriffs deputies M10 8:57PM

California police agencies violate Brown Act (open meetings) M02 8:31PM

Insane Company Wants To Send Nuke Plant Waste To New Mexico A29 11:47PM

Change Links May 2018 A27 8:40AM

Worker-Owned Car Wash on Vermont Closed A27 5:37AM

GUIDE TO REBEL CITY LOS ANGELES AVAILABLE A13 12:39AM

lausd whistle blower A11 6:58AM

Website Upgrade A10 10:02AM

Help KCET and UCLA identify 60s-70s Chicano images A04 8:02PM

UCLA Luskin: Casting Youth Justice in a Different Light A02 6:58PM

Change Links April 2018 A01 6:27PM

More Local News...

Other/Breaking News

Cybermonde, cyberguerre, cyberespace, cyberterrorisme S24 6:35AM

Paraphysique de psychosomatique S22 6:58AM

Chuck Grassley: Women Abusing, Animal Murdering, Illegal War Supporting Criminal S22 2:58AM

Finance Capitalism and the Digital Economy S21 4:45PM

Muselières syndicales, muselières patronales S21 7:19AM

Jeff Bezos, Amazon, The Washington Post, Whole Foods, Etc S21 2:50AM

Why Choose Nut Milk Over Cows' Milk S21 1:01AM

Antrhopocène, le grand effondrement S19 9:53AM

Abolir l'économie S18 11:18AM

The Dictatorship of Corporations S17 5:26PM

18 Lethal Consequences Of Hunting S17 3:13PM

Paraphysique de l'outplacement déontologue S15 6:51AM

Shopping du bashing S14 8:42AM

After Lehman Brothers, Experts Say Global Financial Crisis Can Happen Again S13 8:28PM

“Animaniacs in Concert!” Starring Voice Legend Rob Paulsen S12 9:30PM

Probabilités de fin d'humanité S12 6:49AM

Florida Area of Migrant Farmworkers Denied Right to Construct Health Clinic near NaplesCIW S11 2:57AM

Steer clear of work morality! S09 12:10PM

The Shortwave Report 09/07/18 Listen Globally! S06 11:23PM

August 2018 Honduras Coup update S06 12:28PM

Brett Kavanaugh Filled The 5th Circuit With Execution Judges S06 6:14AM

Augusta Georgia Woman Gets 5 Year Prison Sentence for Writing About Russians Crime Acts S05 8:29AM

Paraphysique de contextualité S05 8:29AM

Crisis Regulation in Global Capitalism S03 3:39PM

Ex-voto de réification S03 10:24AM

Please Oppose Warmonger, Execution and Torture Supporting Bush Operative Brett Kavanaugh A31 10:45PM

Paraphysique d'exploitation occultation A31 10:24PM

Ryan Zinke Is Charging Taxpayers For A Trophy Hunters' Council A31 2:10PM

More Breaking News...
© 2000-2018 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy