Msg. 41844 of 65535 (This msg. is a reply to
41843 by
killthecat)
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What does this "The Obama Team" comment have to do with the board of the New York Fed? My understanding is that the various Federal Bank boards are technically independent of Washington and that only the Chairman requires Senate confirmation.
For example, the CEO of JP Morgan Chase served on the New York Fed's board of directors at the same time that his bank received more than $390 billion in financial assistance from the Fed. Moreover, JP Morgan Chase served as one of the clearing banks for the Fed's emergency lending programs.
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