Blue Mass Group

Reality-based commentary on politics.

  • Shop
  • Subscribe to BMG
  • Contact
  • Log In
  • Front Page
  • All Posts
  • About
  • Rules
  • Events
  • Register on BMG

Nader endorses Deval…

June 23, 2006 By Alex W.

WILL THE PRESIDENT OR THE FINANCIAL COMMUNITY NOMINATE NEW FED GOVERNORS?

For the second time in less than a year, President Clinton has an opportunity to broaden the vision of the Federal Reserve Board.

Many public interest groups are urging the President to fill two existing vacancies on the Board with persons who understand the Federal Reserve’s rapidly expanding responsibilities in consumer protection, community investment, fair lending and bank regulation.

Similarly, there are calls for the President to find candidates from the ranks of those who recognize that the Federal Reserve’s mandate is not limited to fighting inflation, but includes requirements that the Board pursue policies of “maximum employment, production and purchasing power.”

“Invariably, Presidents have selected the Fed’s decision makers from a narrow few — essentially persons who have been deemed acceptable to Wall Street, banks and other segments of the financial community,” Ralph Nader wrote the President in January. “As a result, the broader interests of the majority of the nation’s citizens have been ignored or given short shrift by the Federal Reserve.”

Nader told the President that a more diverse membership “would do wonders for the Board of Governors, the economy, and the rights of consumers!”

The two vacancies on the seven-person Fed Board were created by the resignations of Lawrence Lindsey and Janet Yellen. Last year, the President had the opportunity to change the direction of the Federal Reserve, but decided, instead, to reappoint Alan Greenspan, a conservative Republican economist and former consultant to financial institutions, to a third term as chairman. The President filled two vacancies on the Board with Dr. Alice Rivlin, Director of the Office of Management and Budget, and Dr. Laurence Meyer, a St. Louis economist, who have followed Greenspan’s positions faithfully.

Nader told the President that there is a “wealth of talent across the nation” from which select nominees that would broaden the Board’s outlook beyond those stamped “pre-approved” by the financial community.

Among possibilities, Nader listed Deval Patrick, former head of the Justice Department’s civil rights division; Dr. James Galbraith, economist at University of Texas; Dr. Robert Auerbach, economist, Banking Committee, U. S. House of Representatives; Dr. Robert Solow, Nobel laureate in economics, Massachusetts Institute of Technology; Dr. James Medoff, Professor of Labor and Industry at Harvard University; Henry Cisneros, former Secretary of Housing and Urban Development

Also, Allen J. Fishbein, General Counsel, Center for Community Change, Washington, D. C.; Calvin Bradford, President of the Community Investment Associates, Chicago; Jean Ann Fox, Director of Consumer Protection, Consumer Federation of America; and Colleen Hernandez, Executive Director of the Kansas City Neighborhood Alliance and a director of the Kansas City Federal Reserve Bank.

The President is expected to send names to fill the two vacancies to the Senate next month. Hearings on the nominations will in the Senate Banking Committee which unanimously approved the nominations of Greenspan, Rivlin and Meyer last March.

Please share widely!
fb-share-icon
Tweet
0
0

Filed Under: User Tagged With: deval-patrick, federal-reserve, ralph-nader, random

Comments

  1. renaissance-man says

    June 24, 2006 at 8:01 pm

    helped put George W. Bush in the White House by splitting the Anti-Bush vote, especially in FLORIDA in 2000? 

  2. mel-warshaw says

    June 26, 2006 at 2:19 pm

    Nader’s endorsement is the first really bad thing I have heard about Patrick.  If I discover that Carl Rove is also endorsing Patrick, Patrick is history.

    • fieldscornerguy says

      June 27, 2006 at 11:55 am

      First off, to say that Nader is radioactive is to ignore decades of work.  Do you feel that seat belt laws are radioactive?

      <

      p>
      Second, is Carl Rove a friend of Karl Rove?  if you’re going to be snarky, get your seplling right.

Recommended Posts

  • No posts liked yet.

Recent User Posts

Predictions Open Thread

December 22, 2022 By jconway

This is why I love Joe Biden

December 21, 2022 By fredrichlariccia

Garland’s Word

December 19, 2022 By terrymcginty

Some Parting Thoughts

December 19, 2022 By jconway

Beware the latest grift

December 16, 2022 By fredrichlariccia

Thank you, Blue Mass Group!

December 15, 2022 By methuenprogressive

Recent Comments

  • blueeyes on Beware the latest griftSo where to, then??
  • Christopher on Some Parting ThoughtsI've enjoyed our discussions as well (but we have yet to…
  • Christopher on Beware the latest griftI can't imagine anyone of our ilk not already on Twitter…
  • blueeyes on Beware the latest griftI will miss this site. Where are people going? Twitter?…
  • chrismatth on This site (will be disabled on) December 31, 2022I joined BMG late - 13 years ago next month and three da…
  • SomervilleTom on Geopolitics of FusionEVERY un-designed, un-built, and un-tested technology is…
  • Charley on the MTA on This site (will be disabled on) December 31, 2022That’s a great idea, and I’ll be there on Sunday. It’s a…

Archive

@bluemassgroup on Twitter

#mapoli

headlineoptics Headline Optics @headlineoptics ·
3 Apr

OTR: Diana DiZoglio discusses potential retaliation from Mass. Legislature over audit https://www.masspolicyreport.com/2023/04/03/otr-diana-dizoglio-discusses-potential-retaliation-from-mass-legislature-over-audit/?utm_source=dlvr.it&utm_medium=twitter @masspolicy #MApoli #Massachusetts

Reply on Twitter 1642902408245420032 Retweet on Twitter 1642902408245420032 Like on Twitter 1642902408245420032 Twitter 1642902408245420032
masspolicy MassPolicyReport @masspolicy ·
3 Apr

Mass. Conservatives Win Big in Second MassGOP Caucus: Crush Baker 2.0/Establishment Candidate https://www.masspolicyreport.com/2023/04/03/mass-conservatives-win-big-in-second-massgop-caucus-crush-baker-2-0-establishment-candidate/ #Massachusetts #MApoli #bospoli #MassPolicyReport

Reply on Twitter 1642902143123202050 Retweet on Twitter 1642902143123202050 Like on Twitter 1642902143123202050 Twitter 1642902143123202050
sabadosama Lindsay Sabadosa @sabadosama ·
3 Apr

A huge pleasure to join @RepDylan as he launched the #Massachusetts Friends of UK Legislative Caucus at the home of the @FCDOPeterAbbott. It was wonderful to talk about how we can collaborate to benefit constituents and deepen long-standing ties! #mapoli

2

Reply on Twitter 1642900909020569600 Retweet on Twitter 1642900909020569600 Like on Twitter 1642900909020569600 Twitter 1642900909020569600
theaaholcomb Thea Holcomb @theaaholcomb ·
3 Apr

If you're familiar with #mapoli I have questions for you!

My intern is applying for an internship there - obvs I'm thrilled. 😊 What should she know about how the MA legislature is staffed? What other essential knowledge would you pass along?

Reply on Twitter 1642899676125970436 Retweet on Twitter 1642899676125970436 Like on Twitter 1642899676125970436 1 Twitter 1642899676125970436
masspolicy MassPolicyReport @masspolicy ·
3 Apr

Mounting evidence that the citizens of MA are over taxed https://www.masspolicyreport.com/2023/04/03/mounting-evidence-that-the-citizens-of-ma-are-over-taxed/ #Massachusetts #MApoli #bospoli #MassPolicyReport

Reply on Twitter 1642898875705970690 Retweet on Twitter 1642898875705970690 Like on Twitter 1642898875705970690 Twitter 1642898875705970690
erintiernan Erin Tiernan @erintiernan ·
3 Apr

It's April in #mapoli which means budget season is in full swing. The House will soon pitch a tax relief proposal alongside their 2024 fiscal plan.
- @MBTA staffing shortage cou;d keep trains from running on time
- Auditor DiZoglio won't back down
https://masster-list.com/2023/04/03/massachusetts-house-tax-package-could-be-a-tango-with-healey/

Reply on Twitter 1642898790221770752 Retweet on Twitter 1642898790221770752 1 Like on Twitter 1642898790221770752 Twitter 1642898790221770752
Load More

From our sponsors




Google Calendar







Search

Archives

  • Facebook
  • RSS
  • Twitter




Copyright © 2023 Owned and operated by BMG Media Empire LLC. Read the terms of use. Some rights reserved.