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Government

Elizabeth Warren Scolds NY Fed President

MUNCIE, Indiana NEWS – For all the long articles we share on Muncie Voice, this one will please those who like it short and sweet. This is an article about public servant leadership. A real public servant holding the people accountable. It’s a video of Senator Elizabeth Warren (D) questioning NY Federal Reserve President William C. Dudley at a Senate Banking Subcommittee on Financial Institutions.

For those not following, Mr. Dudley has tried to clean up the unethical behavior of our Wall Street Banksters since 2009, but has made little progress. He’s made some really great speeches to the bank executives which has raised their dander, but he’s not altered their unethical behavior one bit.

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Here is a brief sample from a recent speech made Mr. Dudley:

If those of you here today as stewards of these large financial institutions do not do your part in pushing forcefully for change across the industry, then bad behavior will undoubtedly persist,” Mr. Dudley said in a speech. “If that were to occur, the inevitable conclusion will be reached that your firms are too big and complex to manage effectively.

That was clear long before the banks collapsed in 2008 which is why Glass-Steagall was put in place back in the 1930’s, but President Bill Clinton essentially repealed it in 1998, allowing the “Too Big to Fail” and “Too Big to Jail” crowd to overtake the financial industry.

The list of financial industry abuses are much too long to share. Mr. Dudley has “threatened” these sociopaths so often that he should receive the Biggest Enabler award. He’s like the parent who keeps yelling at their kids to change their behavior, instead of teaching them discipline.

Here’s a newsflash Mr. Dudley – they’re not listening to you because you don’t scare them.

You’re a speech maker, not a leader. They’ve committed fraud against the world causing a global economic collapse, and there weren’t any negative consequences. Nobody went to jail, and taxpayers kindly bailed them out. Their greed and deceit paid off and there were zero negative consequences. Why would anybody stop a racket like this?

In fact, the Federal Reserve has given them well over $13 trillion, including $85 billion a month to clean up their balance sheets so they’ll start lending money to ignite the economy. Why do you think the stock market has been on fire while the rest of the economy has limped along for 6 years.

Instead of kick starting the economy, the Banksters are using free taxpayer dollars to rig LIBOR and fix currency rates, and launder money for international drug dealers. What does the “leader” of the NY Federal Reserve do about it? Nothing, but make speeches.

Maybe the reason they don’t fear Mr. Dudley at the New York Fed is the Banksters own him. According to the Carmen Segarra, a former bank examiner, accused the NY Fed of “going soft on Goldman Sachs”.

According to Elizabeth Warren, “The (Segarra) tapes reveal a basic cultural issue: The Fed can identify problems, but can’t bring itself to make the banks fix those problems”.

In this article on Muncie Voice, and many others, we point out how Matt Taibbi refers to these Bankster executives as sociopaths because they are committing illegal acts time and time again without any remorse. We agree.

Mr. Dudley has been busy writing and making speeches when he should be collaborating with the Department of Justice, Treasury Dept., FBI and whoever else can help him arrest, convict and send these thugs to prison.

We heard recently on one broadcasting medium, “Arresting Wall Street bankers would cause serious doubts among economic circles around the globe.”

Really, what about the public trust? What about the clear message this sends – we have two different systems for justice – one for street criminals and one for white collar crimes.

If we demand prison time for people who rob us in Muncie, Indiana, why shouldn’t we demand jail time for those who rob us on Wall Street? Why should they have different sets of rules?

In our opinion, we need 50 to 100 hundred more Elizabeth Warren’s in Washington. We need elected leaders who have the courage to lead our country through our transition from a consumer driven growth model to a more sustainable long-term stable market which serves all its citizens.

In this short video, Elizabeth Warren, gets her point across to Mr. Dudley. He doesn’t like it very much, but if he cannot do his job, let Senator Warren find someone who can and will.

Can you imagine if Sen. Warren had more support? Can you imagine if we had 50 to 100 more public servants like Elizabeth Warren in Washington?

Furthermore, you should be asking yourself why this video isn’t being discussed on broadcast media, or radio and newspapers.

Here’s a hint – they’re all owned by Wall Street, too.

Enjoy watching a public servant act role model what we need more of in Washington:

Todd Smekens

Journalist, entrepreneur, publisher, DSA member, and ethical leader with a passion for truth-seeking. Enjoy cycling, yoga, meditation, and spending quality time with my daughter. Wellness advocate who practices servant style leadership.
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