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Sen. Sanders blasts conflicts of interest at the Federal Reserve

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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.

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“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:

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Enjoy this piece?

… then let us make a small request. Like you, we here at Raw Story believe in the power of progressive journalism — and we’re investing in investigative reporting as other publications give it the ax. Raw Story readers power David Cay Johnston’s DCReport, which we've expanded to keep watch in Washington. We’ve exposed billionaire tax evasion and uncovered White House efforts to poison our water. We’ve revealed financial scams that prey on veterans, and efforts to harm workers exploited by abusive bosses. We’ve launched a weekly podcast, “We’ve Got Issues,” focused on issues, not tweets. Unlike other news sites, we’ve decided to make our original content free. But we need your support to do what we do.

Raw Story is independent. You won’t find mainstream media bias here. We’re not part of a conglomerate, or a project of venture capital bros. From unflinching coverage of racism, to revealing efforts to erode our rights, Raw Story will continue to expose hypocrisy and harm. Unhinged from corporate overlords, we fight to ensure no one is forgotten.

We need your support to keep producing quality journalism and deepen our investigative reporting. Every reader contribution, whatever the amount, makes a tremendous difference. Invest with us in the future. Make a one-time contribution to Raw Story Investigates, or click here to become a subscriber. Thank you.



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Why was Jeffrey Epstein buying size 5 women’s panties — while in jail?

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The Miami Herald has another bombshell report on Jeffrey Epstein, who died in a Manhattan jail while waiting to stand trial on federal sex crimes charges.

"A decade ago, during a brief stint in Palm Beach County Jail, convicted sex offender Jeffrey Epstein made an odd purchase at the facility’s store: two pairs of small women’s panties, size 5," the Herald reported Saturday night.

The newspaper noted, "the panties raise questions about why a childless male inmate, accused of sexually abusing girls as young as 14, would be allowed to buy female undergarments so small that they wouldn’t fit an average-sized adult woman."

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CNN

‘Not surprised at all that the president sides with the white nationalists’: Native American Congresswoman

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One of the first two Native America women blasted President Donald Trump for siding with white nationalists on Saturday.

Following the fatal "Unite the Right" rally in Charlottesville in 2017, Trump claimed there were "fine people" on both sides when he defended the alt-Right and Neo-Nazi event.

Two years later, Trump has gone even further, blaming only the anti-fascist activists confronting far-right marching in Portland, Oregon in a way that reminds many of the invasion of Charlottesville.

https://twitter.com/realDonaldTrump/status/1162726857231544320

Rep. Deb Haaland (D-NM) was asked about Trump's tweet by CNN's Ana Cabrera.

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2020 Election

‘He believes he’s a king and a dictator’: Ex-GOP congressman backs impeaching ‘unfit conman’ Trump

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President Donald Trump was blasted on MSNBC on Saturday by a former Republican congressman for being an "unfit conman."

Rev. Al Sharpton interviewed former Rep. Joe Walsh (R-IL) about a recent New York Times op-ed he wrote calling for Trump to face a primary challenge from the right.

"There’s a strong case for President Trump to face a Republican primary challenger," Walsh wrote. "I know a thing or two about insurgencies. I entered Congress in 2011 as an insurgent Tea Party Republican."

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