Labor Leader Named Head of New York Fed

[WildspitzE]

Head of NY branch of the AFL-CIO named Chairman of NY Fed.

http://online.wsj.com/article/SB1251...s_markets_main

I always thought that his choice in a temporary capacity was odd.

NAIRU is preserved! LOL

Seriously, interesting choice to begin with or am I reading too much into this?

Columbia to rule in 2010.

[doom&gloom]

Re: Labor Leader Named Head of New York Fed

OMG. save us...

[nathanhulick]

Re: Labor Leader Named Head of New York Fed

Honestly I dont see what the big deal is.

Sure, this guy is connected to the big unions, obviously. How is it any different than having a Wall Street insider take the job?

Either way, you get someone in there who is going to screw over the majority of the country and try to influence policy to benefit his own special interest group.

If it had been a former employee of Chase or Citibank, this would not even be a news piece. If it had been a Goldman employee, it would only have slightly been news, and only because of the constant story about how Goldman is secretly running the Treasury department.

[GRG55]

Re: Labor Leader Named Head of New York Fed

Honestly I dont see what the big deal is.

Sure, this guy is connected to the big unions, obviously. How is it any different than having a Wall Street insider take the job?

Either way, you get someone in there who is going to screw over the majority of the country and try to influence policy to benefit his own special interest group.

If it had been a former employee of Chase or Citibank, this would not even be a news piece. If it had been a Goldman employee, it would only have slightly been news, and only because of the constant story about how Goldman is secretly running the Treasury department.

Does he know how to calculate his taxes properly?...:rolleyes:

[jk]

Re: Labor Leader Named Head of New York Fed

iirc, the last chairman of the ny fed had to step down when people became upset about the fact that he was simultaneously on the board of goldman and buying goldman stock while the ny fed was funneling money to goldman. at least the afl-cio isn't getting tarp funds.

[GRG55]

Re: Labor Leader Named Head of New York Fed

They are through GM and Chrysler.

This is an important observation.

I wonder if Wall Street [who were probably quietly consulted by the Fed in advance to get their nod of support for this appointment] is now working to co-opt organized labour in recognition that this may be an important future conduit of influence to this seemingly labour friendly White House and Administration.

Lessons learned from the Administration's handling of Chrysler and GM?

[nathanhulick]

Re: Labor Leader Named Head of New York Fed

Does he know how to calculate his taxes properly?...:rolleyes:

Well, I am sure he probably does his best!

If there are any mistakes, its probably due to turbo tax!
;)

[MulaMan]

Re: Labor Leader Named Head of New York Fed

The AFL-CIO, one of the Democratic Party’s most powerful allies, would like to assess a small tax — about a tenth of a percent — on every stock transaction.

Great idea. I'd like to see a progressive stock trading tax...if you hold the stock for say 1 month or longer then zero tax...the shorter the time frame the larger tax...millisecond trading would cost huge amounts and so put Goldman's automated mafia trading out of business.

Lets get back to long term investing in well run American companies and kill the short-term (3 years or less) speculation that most people consider investing.

[doom&gloom]

Re: Labor Leader Named Head of New York Fed

illegal copy from TurboTax(cheat)Timmy maybe?