Democratic Underground Latest Greatest Lobby Journals Search Options Help Login
Google

Obama starting to appoint actually useful financial people?

Printer-friendly format Printer-friendly format
Printer-friendly format Email this thread to a friend
Printer-friendly format Bookmark this thread
This topic is archived.
Home » Discuss » Topic Forums » Economy Donate to DU
 
eridani Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Mar-23-10 07:36 PM
Original message
Obama starting to appoint actually useful financial people?
This will help a lot, but Geithner and Summers still ought to go.

http://www.alternet.org/story/146091/obama%27s_new_bank...

But the names the Obama administration is floating to fill the Fed Board seats have been consistent voices of reason on economic policy: San Francisco Federal Reserve President Janet Yellen, Maryland Commissioner of Financial Institutions Sarah Bloom Raskin and M.I.T. economist Peter Diamond. Moreover, each candidate would help counter fundamental shortcomings in the Fed's policymaking over the past decade.

The Fed has never been an effective bank regulator. Nearly every serious and effective bank regulator in the U.S. is currently working at the state level, and Raskin is one of the standouts. The banks she regulates haven't failed, and she has been a consistent advocate for regulations that work to help ordinary citizens, not bigwig bankers, and has objected to the deference federal agencies like the Fed and the Office of Comptroller of the Currency (OCC) have given to high-profile bank executives.

Here's Raskin testifying before the Congressional Oversight Panel for the Troubled Asset Relief Program in January 2009:

The states have sometimes perceived an environment at the federal level that was skewed toward facilitating the business models and viability of our largest financial institutions rather than promoting the strength of the consumer or our diverse economy.
Printer Friendly | Permalink |  | Top
 
dmr Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-24-10 08:14 AM
Response to Original message
1. This sounds like good news
What do the rest of you think?
Printer Friendly | Permalink |  | Top
 
jschurchin Donating Member (1000+ posts) Send PM | Profile | Ignore Wed Mar-24-10 08:56 AM
Response to Reply #1
2. I agree that Geithner and Summers
Edited on Wed Mar-24-10 08:56 AM by jschurchin
have to go.

I would prefer that he found people who actually know how to run a business, not more bankers. I think we all know bankers got us into this mess to begin with.
Printer Friendly | Permalink |  | Top
 
blue97keet Donating Member (390 posts) Send PM | Profile | Ignore Thu Mar-25-10 09:54 AM
Response to Original message
3. Janet Yellen thinks that outsourcing doesn't cause unemployment
much and affects mostly "low skill" jobs. (She was on C-span yesterday.) We can't get away from blind economic orthodoxy out of touch with what is happening on the ground.
Printer Friendly | Permalink |  | Top
 
amandabeech Donating Member (1000+ posts) Send PM | Profile | Ignore Sat Mar-27-10 10:49 PM
Response to Reply #3
4. Good grief, what planet is she from? n/t
Printer Friendly | Permalink |  | Top
 
notesdev Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Apr-01-10 06:34 PM
Response to Reply #4
6. That would be
Planet Elite - same place all the people making decisions about us are from. And I would dare say she is relatively enlightened compared to most of them (not a lofty standard).
Printer Friendly | Permalink |  | Top
 
ncguy Donating Member (57 posts) Send PM | Profile | Ignore Wed Mar-31-10 12:31 PM
Response to Original message
5. Hey,
maybe we will actually get meaningful regulation in the next 7 years.

I can hope, can't I????
Printer Friendly | Permalink |  | Top
 
DU AdBot (1000+ posts) Click to send private message to this author Click to view 
this author's profile Click to add 
this author to your buddy list Click to add 
this author to your Ignore list Sun Oct 22nd 2017, 04:22 PM
Response to Original message
Advertisements [?]
 Top

Home » Discuss » Topic Forums » Economy Donate to DU

Powered by DCForum+ Version 1.1 Copyright 1997-2002 DCScripts.com
Software has been extensively modified by the DU administrators


Important Notices: By participating on this discussion board, visitors agree to abide by the rules outlined on our Rules page. Messages posted on the Democratic Underground Discussion Forums are the opinions of the individuals who post them, and do not necessarily represent the opinions of Democratic Underground, LLC.

Home  |  Discussion Forums  |  Journals |  Store  |  Donate

About DU  |  Contact Us  |  Privacy Policy

Got a message for Democratic Underground? Click here to send us a message.

© 2001 - 2011 Democratic Underground, LLC