{"id":10855,"date":"2013-08-13T02:01:41","date_gmt":"2013-08-13T09:01:41","guid":{"rendered":"http:\/\/www.politicsplus.org\/blog\/?p=10855"},"modified":"2013-08-13T02:01:41","modified_gmt":"2013-08-13T09:01:41","slug":"when-giants-meet","status":"publish","type":"post","link":"https:\/\/www.politicsplus.org\/blog\/2013\/08\/13\/when-giants-meet\/","title":{"rendered":"When Giants Meet"},"content":{"rendered":"

At times online friends and I write on the same subjects at the same time, and when that happens, I\u2019m pleased.  This is a team effort, not a competition.  Sometimes we even draw from the same sources.  I often humorously quip, \u201cGreat minds fall in the same ditch!\u201d  But now, we have a case where great minds have written an article together, and these great minds are Bernie Sanders (I-VT) and Elizabeth Warren (D-MA).  This is what happens when giants meet!<\/font><\/p>\n

\n

\"13Sanders\"The decisions made by the next chair of the Federal Reserve will have a powerful impact on the economic well-being of every person in America. <\/p>\n

While the largest financial institutions and corporations in this country have been bailed out and are now back to making enormous profits and rewarding their executives with outsized compensation packages, recovery hasn\u2019t gone so well for the rest of America. Middle class families have continued to lose ground economically, the number of Americans living in poverty is near an all-time high, and the gap between the very rich and everyone else is growing wider.<\/p>\n

\"13Warren\"The next Fed chair will have enormous power and influence over our entire financial system and the direction of the economy. The Fed is responsible not only for our country\u2019s monetary policy, but it is also a key regulator of financial institutions. In our view, the president\u2019s nominee for Fed chair must be committed to improving the lives of working Americans who are still struggling through the worst economic crisis since the Great Depression. <\/p>\n

To that end, we think any Fed chair nominee should be able to answer the following four questions:<\/p>\n

Question 1: Do you believe that the Fed\u2019s top priority should be to fulfill its full employment mandate?<\/h6>\n

The U.S. continues to face a major crisis in unemployment.  When Wall Street was on the verge of collapse, the Fed acted aggressively and with a fierce sense of urgency to save the financial system.  Will you act with the same sense of urgency to combat the unemployment crisis in America today, and will you make clear what specific actions you will take?  What rate do you think is acceptable and should be the Fed\u2019s target?\u2026<\/p>\n<\/blockquote>\n

Inserted from <Truthdig<\/a>><\/p>\n

They are spot-on, and I gave you only one of the four questions, with follow-ups,  they would ask.  Click through for the other three, as it is an education in what\u2019s wrong with the Fed and what needs to happen there.<\/font><\/p>\n

I would add a fifth question:<\/font><\/p>\n

Question 5: Are you one it the Three Blind Mice?<\/font><\/h6>\n

If yes, are you Larry \u201cWrong Way\u201d Summers or Timmy \u201cThe Tool\u201d Geithner?  If the answer is either, flush immediately, and DO NOT CONFIRM.<\/font><\/p>\n","protected":false},"excerpt":{"rendered":"

At times online friends and I write on the same subjects at the same time, and when that happens, I\u2019m pleased.  This is a team effort, not a competition.  Sometimes we even draw from the same sources.  I often humorously quip, \u201cGreat minds fall in the same ditch!\u201d  But now, we have a case where […]<\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":["post-10855","post","type-post","status-publish","format-standard","hentry","category-politics","category-5-id","post-seq-1","post-parity-odd","meta-position-corners","fix"],"_links":{"self":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/10855","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/comments?post=10855"}],"version-history":[{"count":0,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/posts\/10855\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/media?parent=10855"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/categories?post=10855"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.politicsplus.org\/blog\/wp-json\/wp\/v2\/tags?post=10855"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}