There is no reason to trust a longtime corporate stooge to serve as President Biden’s chief of staff.
The Myth of Jeffrey Zients
Related (Archived Links):
Read More »Tag: Dodd-Frank
“Meltdown”: How “Hope and Change” led to MAGA
The coming economic crash that will destabilize America
Congress Passed Legislation Making the Treasury Secretary the Boss of the Federal Reserve During a Financial Crisis: That’s Creating Its Own Crisis
‘A win for the establishment and a loss for progressives’ — analysts react to Yellen as Biden’s Treasury secretary
— “Janet Yellen’s nomination to be Treasury Secretary is a win for the establishment and a loss for progressives and modern monetary theory proponents. So far, the Biden team is mostly establishment types, which should ease the concerns of investors who feared a more leftward tilt. Although we were skeptical that Mr. Biden was going to pick Sen. Elizabeth Warren for the Treasury job, that risk has been completely removed for now.” — Brian Gardner, chief Washington policy strategist at Stifel.
…
— “She is well within the orthodoxy of the economics community, and I suspect that fact along with her familiarity will lead to a largely positive response from financial markets. More broadly, from what we have seen so far, Biden appears to be mainly choosing old Democratic hands to fill his most vital Cabinet and White House posts, people from the Obama (and in some cases, even the Clinton) years. Progressives had hoped to wield major influence in the next administration, but if Biden’s personnel choices so far are any indication, he intends to govern more from what constitutes the middle of the Democratic Party today than to push the envelope far to the left.” — Stephen Stanley, chief economist at Amherst Pierpont.
Related:
The Wall Street Journal Nominates Janet Yellen as Treasury Secretary
Federal Regulators Have Gutted Safety and Soundness Rules for the Biggest Wall Street Banks
Federal Regulators Have Gutted Safety and Soundness Rules for the Biggest Wall Street Banks
Bottom line: federal regulators are as clueless today as they were in 2008 when it comes to the level of systemic risk these banks pose to the financial system of the United States. The only way to rein in that risk is to break up these banks and restore the Glass-Steagall Act. That would separate these casinos from the federally-insured, deposit-taking banks.
Related:
Justices spar over fate of consumer agency
The Supreme Court appeared divided along ideological lines over the question of whether the structure of the Consumer Financial Protection Bureau, an agency seen as a progressive achievement in the wake of the financial crisis, is unconstitutional.
— Read on thehill.com/regulation/court-battles/485700-justices-spar-over-fate-of-consumer-agency
Ms. Cat’s Chronicles 