Federal Reserve

Republicans fawn over JP Morgan CEO at hearing (MSNBC)

June 13, 2012

On the Ed Show, Bernie talks about Wall Street’s cozy ties with some legislators.

“I think the real story is – and everybody should understand this – this is not a question of Congress regulating Wall Street, this is much more a question of Wall Street & all of their money regulating Congress.”

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Sanders: JPMorgan a ‘Gambling Casino’ (CNBC)

Bernie talks about conflicts of interest at the Fed on CNBC.

“The issue here is not hard to understand. The fed plays a very important roll in our economy… Do you really want people like Jamie Dimon, representing JP Morgan Chase, sitting on the New York Fed, which is supposed to be regulating Wall St? I think that that is a very obvious and apparent conflict of interest.”

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Senator Reveals Specifics on the Fed’s Conflicts of Interest (The Nation)

June 12, 2012

By George Zornick JPMorgan Chase CEO Jamie Dimon will appear before the Senate Banking Committee on Wednesday to answer questions about his bank’s risk management, or lack thereof—how was it that a too-big-to-fail institution took dangerous gambles that recently resulted in multibillion-dollar losses? But there are deeper questions likely to come up as well. One […]

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Sanders calls for reform to Federal Reserve system (Burlington Free Press)

By Dan D’Ambrosio Sen. Bernie Sanders, I-Vt., has released the names of 18 current and former Federal Reserve regional bank directors whose banks and businesses received more than $4 trillion in near zero-interest Federal Reserve loans in the aftermath of the 2008 financial collapse. The names included JPMorgan Chase Chief Executive Jamie Dimon, who sits […]

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Bernie talks about latest news on JP Morgan blunder (MSNBC)

“This is not just Jamie Dimon… According to the GAO… you have 17 other individuals, past and present members of Feds, who collectively – 18 of them collectively – their financial institutions received $4 trillion in very low interest loans during the bailout period. So, again, if this is not the fox guarding the hen house, then I don’t know what is.”

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Columbia in a tangle over links to embattled JP Morgan boss Dimon (The Guardian)

By Dominic Rushe Columbia University is facing accusations of a conflict of interest relating to the role of its president in cheerleading for the boss of JP Morgan Chase, one of Columbia’s most generous financial backers. Lee Bollinger, who has been president of Columbia since 2002, has been a vocal supporter of Jamie Dimon despite […]

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Bernanke: Up to Congress to fix Dimon-NY Fed conflict (Reuters)

June 7, 2012

By Pedro Nicolaci da Costa Federal Reserve Chairman Ben Bernanke said on Thursday it is up to Congress to address any conflict of interest created by having JPMorgan CEO Jamie Dimon on the board of the New York Fed, which regulates his bank. The potential conflict was brought to light recently by a surprising multibillion-dollar […]

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Bernanke Says Fed Would Work With Congress on Governance (Bloomberg News)

By Carolin Salas Gage Federal Reserve Chairman Ben S. Bernanke said the U.S. central bank is willing to work with Congress on a bill that would remove bank executives from the boards of regional Fed banks. “If Congress wants to change it, of course we will” work with lawmakers, Bernanke said today in response to […]

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What’s going on with the economy? (MSNBC)

Watch Bernie discuss Ben Bernanke & the Fed on MSNBC’s Jansing & Co.

“We need a Fed that starts representing ordinary people, the middle class; Main St, not Wall St. We have to get the bankers off of the Fed.”

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Bernanke: ‘A Trillion There, A Trillion Here’ From The Fed Won’t Fix The Deficit (Forbes)

By Agustino Fontevecchia The heat rose on Capitol Hill Thursday as Fed chief Ben Bernanke got grilled by policymakers, minutes after delivering bland prepared remarks.  The Chairman rejected the notion that artificially low rates, set by the Fed, gave the U.S. a false sense security, allowing Congress to procrastinate.  Bernanke also joked that “a trillion there, a […]

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