Courtesy of Pam Martens.
Janet Yellen Taking the Oath at Her Senate Confirmation Hearing for Federal Reserve Chair
Prior to her testimony before the U.S. Senate Banking Committee today, Janet Yellen, President Obama’s nominee to Chair the Federal Reserve Board of Governors, was asked to take an oath to tell the truth, the whole truth and nothing but the truth.
But nine months ago, when Jack Lew went before the U.S. Senate Finance Committee for his confirmation hearing for U.S. Treasury Secretary, no such hand went in the air and no oath to tell the truth was taken.
Why the disparity?
The Fed Chairman directs monetary policy for the country. The U.S. Treasury Secretary pays the nation’s bills, prints its currency, oversees the collection of its taxes, and since the passage of the Dodd-Frank financial reform legislation, chairs the Financial Stability Oversight Council (F-SOC). This is not some slouch job.
Lew came to his confirmation hearing with enough conflicts of interest to choke a horse – even an elephant, especially the Republican kind.
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