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	<title>Comments on: 238 Members of Congress Disagree with the President: The Fed Needs More Accountability</title>
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	<link>http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/</link>
	<description>Firedoglake weblog</description>
	<lastBuildDate>Thu, 26 Nov 2009 07:42:41 -0600</lastBuildDate>
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		<title>By: halfwaytoconcord</title>
		<link>http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921660</link>
		<dc:creator>halfwaytoconcord</dc:creator>
		<pubDate>Mon, 22 Jun 2009 23:21:41 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921660</guid>
		<description>&lt;p&gt;Why are George Miller (CA-7) and Jerry McNerney (CA-11)  MIA on this issue? &lt;/p&gt;
&lt;p&gt;There is a clip that shows blowhard &lt;a href=&quot;http://www.halfwaytoconcord.com/index.php?s=hr+1207&quot; rel=&quot;nofollow&quot;&gt;George Miller&lt;/a&gt; boasting to his homies that he was actually an AUTHOR of HR 1207!!!!&lt;/p&gt;
&lt;p&gt;These guys need to publicly get on board HR 1207 or at least explain their betrayal of their core constituencies to the finance and banking interests.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>Why are George Miller (CA-7) and Jerry McNerney (CA-11)  MIA on this issue? </p>
<p>There is a clip that shows blowhard <a href="http://www.halfwaytoconcord.com/index.php?s=hr+1207" rel="nofollow">George Miller</a> boasting to his homies that he was actually an AUTHOR of HR 1207!!!!</p>
<p>These guys need to publicly get on board HR 1207 or at least explain their betrayal of their core constituencies to the finance and banking interests.</p>
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		<title>By: BooRadley</title>
		<link>http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921645</link>
		<dc:creator>BooRadley</dc:creator>
		<pubDate>Mon, 22 Jun 2009 21:45:12 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921645</guid>
		<description>&lt;p&gt;Seconded.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>Seconded.</p>
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		<title>By: slide</title>
		<link>http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921591</link>
		<dc:creator>slide</dc:creator>
		<pubDate>Mon, 22 Jun 2009 16:25:38 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921591</guid>
		<description>&lt;p&gt;And his BFF Larry Summers who wants to be Fed Chief&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>And his BFF Larry Summers who wants to be Fed Chief</p>
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		<title>By: der1</title>
		<link>http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921579</link>
		<dc:creator>der1</dc:creator>
		<pubDate>Mon, 22 Jun 2009 16:00:02 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921579</guid>
		<description>&lt;p&gt;Digby: &lt;em&gt;It would appear that the global financial crisis was just a convenient way for the masters of the Universe to cull the herd.&lt;/em&gt;&lt;/p&gt;
&lt;p&gt;Accountability is for chumps (the great unwashed masses/taxpayers) as these people might say:&lt;/p&gt;
&lt;p&gt;&lt;em&gt;Staff at Goldman Sachs staff can look forward to the biggest bonus payouts in the firm’s 140-year history after a spectacular first half of the year, sparking concern that the big investment banks which survived the credit crunch will derail financial regulation reforms.&lt;/em&gt;&lt;/p&gt;
&lt;p&gt;plus this:&lt;/p&gt;
&lt;p&gt;&lt;em&gt;Until the release of its first quarter profits in April, it seemed inconceivable that a firm owing the US government $10bn would be looking to break all-time records in 2009.&lt;/em&gt;&lt;/p&gt;
&lt;p&gt;David Williams, an investment banking analyst at Fox Pitt Kelton, said: “This year is shaping up to be the best year ever for investment banks, or at least those that have emerged relatively unscathed from the credit crisis.&lt;/p&gt;
&lt;p&gt;“These banks are intermediaries in the bond markets where governments and companies are raising billions of pounds of new money. There is also a lack of competition that means they can charge huge sums for doing business.” &lt;a href=&quot;http://digbysblog.blogspot.com/2009/06/buyers-market-by-digby-youve-got-to_21.html&quot; rel=&quot;nofollow&quot;&gt;http://digbysblog.blogspot.com.....to_21.html&lt;/a&gt;&lt;/p&gt;
&lt;p&gt;We, through the government and by the Fed, are paying those huge sums, the parties, beach houses, ski lodges, private jets, you name it. A lifestyle none of us can afford on our own but are collectively paying for duped by our own obsession with celebrity, the Villagers are being bailed out by the Fed (us). And Rahm? He’s jus’ one of us, isn’t he?&lt;/p&gt;
&lt;p&gt;&lt;em&gt;After serving as an advisor to Bill Clinton, in 1998 Emanuel resigned from his position in the Clinton administration and became an investment banker at Wasserstein Perella (now Dresdner Kleinwort), where he worked until 2002.[28] In 1999, he became a managing director at the firm’s Chicago office. Emanuel made $16.2 million in his two-and-a-half-year stint as a banker, according to Congressional disclosures.[28][29] At Wasserstein Perella, he worked on eight deals, including the acquisition by Commonwealth Edison of Peco Energy and the purchase by GTCR Golder Rauner of the SecurityLink home security unit from SBC Communications.[28]&lt;/em&gt;&lt;/p&gt;
&lt;p&gt;Emanuel was named to the Board of Directors for the Federal Home Loan Mortgage Corporation (”Freddie Mac”) by then President Bill Clinton in 2000. His position earned him at least $320,000, including later stock sales.[30][31] He was not assigned to any of the board’s working committees.[31]&lt;/p&gt;
&lt;p&gt;During his time on the board, Freddie Mac was plagued with scandals involving campaign contributions and accounting irregularities.[32][31] The Obama Administration rejected a request under the Freedom of Information Act to review Freddie Mac board minutes and correspondence during Emanuel’s time as a director. &lt;a href=&quot;http://en.wikipedia.org/wiki/Rahm_Emanuel&quot; rel=&quot;nofollow&quot;&gt;http://en.wikipedia.org/wiki/Rahm_Emanuel&lt;/a&gt;&lt;/p&gt;
&lt;p&gt;Commonwealth Edison is owned by Exelon Corp. certainly not another Enron but the business model seems to follow in that direction and through it’s PAC an equal Party supporter: &lt;a href=&quot;http://www.opensecrets.org/pacs/expend.php?cmte=C00141218&amp;cycle=2010&amp;txt=&quot; rel=&quot;nofollow&quot;&gt;http://www.opensecrets.org/pac.....&amp;txt=&lt;/a&gt;&lt;/p&gt;
&lt;p&gt;Change we can believe in? The Game is rigged. Eh, we’re all about looking forward not backward. Accountability is for chumps. Sit back and enjoy the show.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>Digby: <em>It would appear that the global financial crisis was just a convenient way for the masters of the Universe to cull the herd.</em></p>
<p>Accountability is for chumps (the great unwashed masses/taxpayers) as these people might say:</p>
<p><em>Staff at Goldman Sachs staff can look forward to the biggest bonus payouts in the firm’s 140-year history after a spectacular first half of the year, sparking concern that the big investment banks which survived the credit crunch will derail financial regulation reforms.</em></p>
<p>plus this:</p>
<p><em>Until the release of its first quarter profits in April, it seemed inconceivable that a firm owing the US government $10bn would be looking to break all-time records in 2009.</em></p>
<p>David Williams, an investment banking analyst at Fox Pitt Kelton, said: “This year is shaping up to be the best year ever for investment banks, or at least those that have emerged relatively unscathed from the credit crisis.</p>
<p>“These banks are intermediaries in the bond markets where governments and companies are raising billions of pounds of new money. There is also a lack of competition that means they can charge huge sums for doing business.” <a href="http://digbysblog.blogspot.com/2009/06/buyers-market-by-digby-youve-got-to_21.html" rel="nofollow">http://digbysblog.blogspot.com&#8230;..to_21.html</a></p>
<p>We, through the government and by the Fed, are paying those huge sums, the parties, beach houses, ski lodges, private jets, you name it. A lifestyle none of us can afford on our own but are collectively paying for duped by our own obsession with celebrity, the Villagers are being bailed out by the Fed (us). And Rahm? He’s jus’ one of us, isn’t he?</p>
<p><em>After serving as an advisor to Bill Clinton, in 1998 Emanuel resigned from his position in the Clinton administration and became an investment banker at Wasserstein Perella (now Dresdner Kleinwort), where he worked until 2002.[28] In 1999, he became a managing director at the firm’s Chicago office. Emanuel made $16.2 million in his two-and-a-half-year stint as a banker, according to Congressional disclosures.[28][29] At Wasserstein Perella, he worked on eight deals, including the acquisition by Commonwealth Edison of Peco Energy and the purchase by GTCR Golder Rauner of the SecurityLink home security unit from SBC Communications.[28]</em></p>
<p>Emanuel was named to the Board of Directors for the Federal Home Loan Mortgage Corporation (”Freddie Mac”) by then President Bill Clinton in 2000. His position earned him at least $320,000, including later stock sales.[30][31] He was not assigned to any of the board’s working committees.[31]</p>
<p>During his time on the board, Freddie Mac was plagued with scandals involving campaign contributions and accounting irregularities.[32][31] The Obama Administration rejected a request under the Freedom of Information Act to review Freddie Mac board minutes and correspondence during Emanuel’s time as a director. <a href="http://en.wikipedia.org/wiki/Rahm_Emanuel" rel="nofollow">http://en.wikipedia.org/wiki/Rahm_Emanuel</a></p>
<p>Commonwealth Edison is owned by Exelon Corp. certainly not another Enron but the business model seems to follow in that direction and through it’s PAC an equal Party supporter: <a href="http://www.opensecrets.org/pacs/expend.php?cmte=C00141218&amp;cycle=2010&amp;txt=" rel="nofollow">http://www.opensecrets.org/pac&#8230;..&amp;txt=</a></p>
<p>Change we can believe in? The Game is rigged. Eh, we’re all about looking forward not backward. Accountability is for chumps. Sit back and enjoy the show.</p>
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		<title>By: bigbrother</title>
		<link>http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921573</link>
		<dc:creator>bigbrother</dc:creator>
		<pubDate>Mon, 22 Jun 2009 15:19:03 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921573</guid>
		<description>&lt;p&gt;Campaigm funders are driving him he gets his political power from “K Street lobbyist whose tune he has been dancing to. Campaign finance reform would help some.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>Campaigm funders are driving him he gets his political power from “K Street lobbyist whose tune he has been dancing to. Campaign finance reform would help some.</p>
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		<title>By: bigbrother</title>
		<link>http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921571</link>
		<dc:creator>bigbrother</dc:creator>
		<pubDate>Mon, 22 Jun 2009 15:14:50 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921571</guid>
		<description>&lt;p&gt;Rahm is Barack’s political strong arm in congress and he holds extremely  strong views. It would be interesting to by a fly on the wall in Whitehouse policy meetings. The Bankers Geithner, Summers and a host of Rubenesk types are sunning economic policy much to Krugman’s distate.That mix needs to include Roubini, Krugman and Galbraith and a table with cream pies.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>Rahm is Barack’s political strong arm in congress and he holds extremely  strong views. It would be interesting to by a fly on the wall in Whitehouse policy meetings. The Bankers Geithner, Summers and a host of Rubenesk types are sunning economic policy much to Krugman’s distate.That mix needs to include Roubini, Krugman and Galbraith and a table with cream pies.</p>
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		<title>By: ghostof911</title>
		<link>http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921570</link>
		<dc:creator>ghostof911</dc:creator>
		<pubDate>Mon, 22 Jun 2009 15:10:19 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921570</guid>
		<description>&lt;p&gt;I’m not sure the mistrust has disappeared.  More so, the masses have been cowed.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>I’m not sure the mistrust has disappeared.  More so, the masses have been cowed.</p>
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		<title>By: bigbrother</title>
		<link>http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921569</link>
		<dc:creator>bigbrother</dc:creator>
		<pubDate>Mon, 22 Jun 2009 15:05:59 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921569</guid>
		<description>&lt;p&gt;Jane Hamsher, a thinking women…analysis perception and action. A political innovator at a time when the system has failed to produce results needed.&lt;br /&gt;
Oboma, in one of his books describing his life before law school decided against working in the unpricipled greed driven Wall Street environment, instead he chose poor nieghborhood organization. I am sure he has had an ear full from wingnuts on the Milton Friedman “Magic Hand”.&lt;br /&gt;
Time to break out the “Presidential whipping tool”?&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>Jane Hamsher, a thinking women…analysis perception and action. A political innovator at a time when the system has failed to produce results needed.<br />
Oboma, in one of his books describing his life before law school decided against working in the unpricipled greed driven Wall Street environment, instead he chose poor nieghborhood organization. I am sure he has had an ear full from wingnuts on the Milton Friedman “Magic Hand”.<br />
Time to break out the “Presidential whipping tool”?</p>
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		<title>By: ghostof911</title>
		<link>http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921568</link>
		<dc:creator>ghostof911</dc:creator>
		<pubDate>Mon, 22 Jun 2009 15:04:31 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921568</guid>
		<description>&lt;p&gt;Sounds like an educated guess. The servant brow-beating the master.&lt;/p&gt;
&lt;p&gt;And who might be strong-arming Rahm Emmanuel?&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>Sounds like an educated guess. The servant brow-beating the master.</p>
<p>And who might be strong-arming Rahm Emmanuel?</p>
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		<title>By: Jane Hamsher</title>
		<link>http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921567</link>
		<dc:creator>Jane Hamsher</dc:creator>
		<pubDate>Mon, 22 Jun 2009 15:02:21 +0000</pubDate>
		<guid isPermaLink="false">http://firedoglake.com/2009/06/22/240-members-of-congress-disagree-with-the-president-the-fed-needs-more-accountability/#comment-1921567</guid>
		<description>&lt;p&gt;I’ve been reading Barry Ritholtz’s book Bailout Nation, and he’s going through the history of mistrust of a private federal bank.&lt;/p&gt;
&lt;p&gt;It’s amazing how that mistrust has disappeared, and we’re ready to hand over so much control to them.&lt;/p&gt;</description>
		<content:encoded><![CDATA[<p>I’ve been reading Barry Ritholtz’s book Bailout Nation, and he’s going through the history of mistrust of a private federal bank.</p>
<p>It’s amazing how that mistrust has disappeared, and we’re ready to hand over so much control to them.</p>
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