Sen. Bernie Sanders on Wednesday explained the importance of ending conflicts of interest at the Federal Reserve.
Jamie Dimon, the CEO and chairman of JPMorgan Chase, serves on the New York Fed’s board of directors. The Fed supervises the financial sector and decides whether to provide bank holding companies with low-interest loans.
“The idea that we don’t have a Fed which is sitting there with knowledgeable, intelligent people who are fighting for the middle class and working families and not just for the profits of the large financial institutions — I mean, to me, that’s just a very simple reform,” Sanders said on Current TV’s Viewpoint.
“But at the end of the day, if we are serious about trying to rebuild the middle class of this country, rebuild our manufacturing sector, et cetera, no question we need real Wall Street reform. To get Wall Street reform, we need Fed reform. To get Fed reform, we’ve got to get the bankers off of the regional Feds.”
Sanders has introduced the Federal Reserve Independence Act to prohibit banking industry executives from serving as Fed directors.
Watch video, courtesy of Current TV, below:
‘There needs to be a prosecution’ of cop who killed George Floyd: CNN guest says ‘call it what it is’
On CNN Wednesday, criminal defense attorney Joey Jackson walked through why the Minneapolis police officer responsible for George Floyd's suffocation death must be prosecuted.
"Bottom line, question here from looking at this, should the officer face charges?" asked host Erin Burnett.
"Erin, I don't think there is any question about that, and I think if you look at it, under any reasonable measure there needs to be a prosecution," said Jackson. "You know, when you look at issues of excessive force — and I know this comes with a lot of emotion, and it should because of the blatant nature of what occurred. But if you even look at it legally and forget about the emotion, you look and you see, was there an imminent fear that the officer was facing when he had his knee in the neck of Mr. Floyd? And the answer is resoundingly no. You look at the force he used, that is the officer, and you say is it proportionate to whatever threat was posed? The answer is no, you don't see any threat. You see a person detained and really not resisting at all."
‘We’re barreling towards economic devastation’: Robert Reich worries ‘government is nowhere to be found’
With the United States Senate on vacation and no efforts currently advancing to provide further COVID-19 stimulus, economist Robert Reich warned of the stakes on Wednesday.
Reich, who served as Secretary of Labor during the Clinton administration, listed three troubling economic facts.
"Temporary eviction moratoriums are set to expire in half of the states. One-fifth of Americans missed rent payments this month. Unemployment benefits are set to expire in two months," he noted.
"We're barreling towards economic devastation and the government is nowhere to be found," Reich warned.
Minnesota governor: the George Floyd video makes me ‘physically ill’
In a public address on Wednesday, Gov. Tim Walz (D-MN) condemned the police killing of George Floyd, saying that the video of the officer kneeling on Floyd's neck made him "physically ill" and that he was “shocked and horrified” by what he saw.
"George Floyd did not deserve to die," said Walz. "But he does deserve justice."
The killing has triggered outrage and protests in Minneapolis, with police clashing with demonstrators on Tuesday and dispersing chemical agents into the crowd. All of the officers involved in the incident were terminated immediately. It is unclear whether or how many of them will be criminally charged for the death.