U.S. Senate Confirms Wall Street Critic as Treasury No. 2.
The U.S. Senate on Wednesday approved Federal Reserve Governor Sarah Bloom Raskin to be the No. 2 official at the Treasury Department, backing a critic of Wall Street to help coordinate an overhaul of financial regulations. The Senate approved the nomination by voice vote.
Raskin, who was a state banking supervisor before she joined the Fed, is expected to play a central role in the roll-out of regulations aimed at preventing a repeat of the 2007-09 financial crisis. Her departure from the central bank opens yet another seat on the Fed's board for President Barack Obama to fill. Obama on January 10 nominated former Bank of Israel Governor Stanley Fischer to serve as vice chairman and two others for regular board seats. . .
In the past she has been an outspoken critic of some of modern finance's favorite ideas and pastimes.
For one, she disdains the practice of big banks making financial market bets to chase a profit, rather than only trading on the behalf of clients.
http://www.nytimes.com/reuters/2014/03/12/us/politics/12reuters-usa-treasury-raskin.html?hp&_r=0
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Kick!
http://www.democraticunderground.com/10024657852
...will get the same treatment. Anything that disrupts the spin, let it sink.
