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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-22-13 06:31 AM
Original message
Movie Night--The Federal Reserve
As some of you know, Firedoglake offers either every week or very often a Sunday "Book Club" where authors log in to take comments and questions from posters. Some very famous authors, like John Dean, have guested, in Dean's case, more than once.

FDL also offers a Monday night movie. As we start our 6th year of Depression for everyone but the investor class, Hanky Panky Bernanke, the Bush-Obama head of the Federal Reserve who supposedly is an expert of the last Depression that the US actually admitted to be in, is leaving us.

Apparently, the White House (or someone) floated the names of Summers and Yellen a good while back.

This float had the effect of narrowing the discussion and inquiry from "Who is best suited to replace Hanky?" to "Who is better, Clinton Economic Advisor Larry Summers or Clinton Economic Advisor and Hanky's Vice Chair, Janet Yellen?

Who could possbily argue with either member of the team that brought us Glass Steagall and NAFTA?

FYI, most commentators pushed Yellen.

Then, supposedly even Senate New Democrats rebelled against Summers, who then went the Susan Rice route of removing his name from consideration. (Didn't hurt Rice none and I doubt it will hurt Summers, who will probably have a place in the pantheon as long as he lives and manages not to drool much in public, ala Kissinger.)

Anyhooo....all of the above is to say that's Monday night movie tomorrow seems timely.

Those who may wish to watch are: all you leftists, all you Paulites and all you Paulites allegedly posing (and posting) as leftists, as well as anyone who, like me, could use more info about The Fed, but is too lazy to do anything about that, other than watch a movie. (Hey, you have to give me points for candor!)

FDLS MOVIE NIGHT MONDAY: Money For Nothing: Inside The Federal Reserve. As the global financial system continues to falter, the Federal Reserve finds itself at a crossroads. The choices it makes will greatly influence the kind of world our children and grandchildren inherit. How can the Federal Reserve steer our nation toward a more sustainable path? How can the American people who the Fed was created to serve influence an institution whose inner workings they may not understand? Join host Lisa Derrick and director Jim Bruce, 8pm ET, 5pm PT, Monday. /

BTW, the quote is lifted from a useful weekly post about what the Sunday talking heads shows are up to that week, as well as a notice about the Sunday Book Club and the Monday night movie. I check that post ever Sunday that I think about watching TV.
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Enthusiast Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-22-13 02:54 PM
Response to Original message
1. I don't think "they" expected the amount of Summers loathing and pushback.
I'm sure Yellen will be just as bad. Otherwise TPTB wouldn't see her as an acceptable alternative. This is the way it is now, with Fed heads and presidents.
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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Sun Sep-22-13 03:03 PM
Response to Reply #1
2. As stated, she was part of the Clinton economic team.
Edited on Sun Sep-22-13 03:08 PM by No Elephants
I am not a fan of New Democrats.

But, you've probably gathered that by now. ;-)

Nothing I've seen says flat out she would be the best person for the job, only that she would be preferable to Summers.

"Good news, Bob Cratchit, your next employer will be more generous to you than Scrooge and Marley were."

Doesn't say much, does it?

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Enthusiast Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Sep-23-13 12:35 AM
Response to Reply #2
3. We can say that we are Democrats.
The others, the ones you call "New Democrats", they aren't Democrats at all. They are infiltrators, fakers and posers.
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No Elephants Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Sep-24-13 01:04 PM
Response to Reply #3
4. They are also most or all of the Party at this point.
The old timers switched over. The ones who are 40-50 know little else.
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