No One Wants to Be Fed Chair Janet Yellen This Week
by Pam Martens and Russ Martens
Wall Street on Parade
Tomorrow, Janet Yellen will scurry over to the Rayburn House Office Building to give her semi-annual testimony to the House Financial Services Committee, now under the control of a deeply paranoid Republican majority when it comes to the Federal Reserve. (Not that some of that paranoia isn’t justified.) There is no question that Yellen will face hostile questioning from Republicans on the Committee, as she has in the past, although the questions tend to venture far afield from the real financial threats to U.S. stability.
Most Democrats, on the other hand, are so wedded to holding up the Dodd-Frank financial reform legislation as their grand achievement after the 2008 crash that they refuse to look out the window and see the equity capital of the Wall Street mega banks currently in a death spiral as the same banks invent ever more creative ways to loot the public and garner its distrust. With this fatal blind spot, House Democrats on the Committee are unlikely to fashion questions hinged to reality.
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Source: http://financialsurvivalnetwork.com/2016/02/no-one-wants-to-be-fed-chair-janet-yellen-this-week/?utm_source=rss&utm_medium=rss&utm_campaign=no-one-wants-to-be-fed-chair-janet-yellen-this-week
