Thursday, October 20, 2011

Oh Boy, Bernie Sanders Forms Team to Advise Him on Fed Reform

The self described democratic-socialist Senator from Vermont, Bernie Sanders, has announced he has formed a panel of experts to advice him on drafting legislation to reform the Federal Reserve. Sanders is not your Ron Paul type Fed reformer.

Sanders said he would work with economic experts to "develop legislation to restructure the Fed and tighten rules on conflicts of interest, ensure that the Fed fulfills its full-employment mandate, increase transparency, protect consumers and reduce income inequality."

He is specifically objecting to a recent GAO report that shows top executives from Goldman Sachs, J.P. Morgan Chase, General Electric and other firms sat on the boards of regional Federal Reserve banks while their firms benefited from the central bank's policies during the financial crisis.

However, his panel of experts is simply a branch from the same insider tree. They include:

•Joseph Stiglitz, who has been an apologist for the banksters since he learned to talk, and is a former chief economist for the bankster enforcement arm, the World Bank.

•Jeffrey Sachs, director of The Earth Institute and a special advisor to globalist United Nations Secretary-General Ban Ki-moon.

•Lawrence Mishel, president of the Economic Policy Institute, that includes among its Board of Directors, steel and communication unions.

•William Black, who worked at nearly every crony bankster operation on Wall Street, including as managing director at Goldman Sachs, a senior manager at Bear Stearns in London, a senior strategist at Lehman Brothers, and an analyst at the Chase Manhattan Bank (now JPM Chase)

•Robert Johnson, senior fellow and director of the Project on Global Finance at the Rockefeller controlled Roosevelt Institute. .

•Dean Baker,a consultant for the World Bank and the Joint Economic Committee of the U.S. Congress.

•Gerald Epstein, chair of the interventionist-obsessed economics department at the University of Massachusetts at Amherst.

•Robert Pollin, co-director of the Political Economy Research Institute and economics professor at the University of Massachusetts-Amherst.

•Stephanie Kelton, associate professor at the University of Missouri, Kansas City and a research scholar at the Center for Full Employment and Price Stability, among her many gems, she wrote, "Financing State and Local Government Infrastructure Investment". It's probably just a coincidence that the banksters are behind the movement at the Chamber of Commerce for government infrastructure investment.

•James K. Galbraith, a professor of government at the Lyndon B. Johnson School of Public Affairs. He is totally Keynesian and anti-free markets.
With this sad collection of interventionists and bankster apologists, Sanders should just hand the program over to Lloyd Blankfein, BofA CEO Brian Moynihan and Kalle Lasn. Why deal with second class misfits, when the first class scoundrels will be more than happy to help?


  1. Bernie Sanders is a Socialist anyway. He's horrible.

  2. Kelton and Galbraith are MMT.

  3. Charles Manson could be reformed faster than the Fed.

    My apology to Charles....

  4. Stephanie Kelton is one of the inventors and top gurus of official MMT-dom:


  5. Please clarify what is wrong with William Black? I thought he was one of the good guys??

  6. Expect more of this from Bernie since his novelty has worn off. Over the last few years, the principled left (as opposed to the professional and partisan left) has been attacking Bernie pretty hard. For some examples, see The Myth of Bernie Sanders (CounterPunch is fundraising so you'll have to scroll halfway down the page to get to the story) and America's Only Elected Socialist (TM) on state murder (Ron Paul even gets a shout-out in this one).

  7. Wow, if Sanders understood economics, even the basics, he would be a great ally. He understands that the Wall St/FED nexus is dangerous, and that gov't support of Big Biz is wrong...but just can't see past his own moronic prejudices.

    Poor man. I feel sorry for him. Sorta.

  8. Let them. Put the Fed under the Treasury and welcome hyperinflation. PM holders rejoice.

  9. Wow!With such a mesmerizing bunch of grass fed social tweakers and freakanomic experts the herds on the streets should think twice who to stone first.

  10. LOL! I was just thinking Jamie Dimon would co-chair this fool-the-public-school-tax-cattle farce.

  11. This is practically a worst of the worst list, minus Krugman.

  12. I am assuming that "William Black" is not the same as "Bill Black."

  13. Boetie,

    My guess is that "William Black" is actually William K. Black.

  14. And in other news, A rapist forms team of rapists to advise him on your daughter's vagina.

  15. OH well done anonymous 12:35pm!!!