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Well it's not a ACORN, but pretty damn close, the Obama influence is clear with this choice.
A top labor union leader, Denis Hughes, has become the chairman of the Federal Reserve Bank of New York’s Board of Directors. The New York Fed’s board comprises nine members, and is set up to reflect banking and community interests. Hughes has been on the board since 2003, but a union leader as New York Fed Chairman?
Hughes is president of the 2.5 million member New York State AFL-CIO.
According to the New York state AFL-CIO site:
As President of the New York State AFL-CIO, Mr. Hughes has made creating a more mobile, active and aggressive statewide labor movement a top priority. He has set a tone for organizing new members into the movement and has led the way in developing proactive legislative and political statewide strategy.
Hughes clearly doesn't understand basic supply and demand economics, since he "has been successful in helping to pass historic legislation that provides farm workers a minimum wage equal to that of all other workers in the state."
Almost any economist will tell you that minimum wage laws lead to only one thing, greater unemployment.
This guy is a total union hack. Here's more from the NYS AFL_CIO site:
Following up on his commitment to grow the labor movement and organize new members, President Hughes led a successful legislative effort to secure unprecedented labor protections and organizing rights for workers who work at casino gaming facilities in this state.
In addition, historic “card check” legislation was passed that recognizes union designation by showing a majority interest through card check.
And this must make Obama's mouth water:
Hughes led the way for New York State to become the first state in the country to adopt and implement the New Alliance. This historic restructuring initiative consolidates the economic, political and legislative force of the labor movement. The New Alliance allows the labor movement to better utilize its resources in order to secure progressive legislation and help labor supported candidates gain victory on Election Day.
Originally posted by infolurker
Something I don't know (because I guess I have never really cared) is "How" does someone become a "Fed Chairman"? Is it appointed by the Fed Board members (I would think so)? What are the qualifications? Anyone "really" know?