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Wall Street Journal Says "Afuera!" on Fed Regulator (WSJ, Editorial Board)www.wsj.com/opinion/a-federal-reserve-regulator-who-deserves-the-boot-michael-barr-99d9c51f
464 sats \ 4 comments \ @denlillaapan 15h news
Pretty dope,
"A Federal Reserve Regulator Who Deserves the Boot" (December 17)
My snarky little first reaction: all of them...?
Anyway, the editorial discusses the many flaws and failures of Fed Vice Chair for Supervision Michael Barr, and suggests President Trump fire him:
A favorite of Elizabeth Warren, Mr. Barr helped devise the 2010 Dodd-Frank Act and Consumer Financial Protection Bureau. In his view, the 2008-2009 financial panic resulted from too little regulation, never mind the government-driven housing bubble, Fed policy that was too easy for too long, and sleepy bank examiners.
The bank runs of 2023(?) was right under his nose, brought to his attention by underlings. Do anything? NO, but pursue the ideological misanthropic crap of the brain-devoured left:
Dude knew where his bread was buttered, so to speak.
The real problem is that examiners were focused more on risk-management process than actual financial risk.
Given this sorry record, Mr. Trump would have solid grounds to remove Mr. Barr for cause before his term ends in July 2026. He could name Fed Governor Michelle Bowman as supervisory head while Mr. Barr could stay on the board. If there are more banking failures, does the President-elect want to be blamed for the supervisory lapses of an Elizabeth Warren protege?
afuera with all of these schmucks.
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non-paywall here: https://archive.md/MfV5b
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0 sats \ 0 replies \ @cyphercosmo 12h
It's kinda funny how humans can look so much alike in certain ways and completely different in others, I just can't understand how certain people would put their freedom in someone else's hand. Believing that whoever is next in power will have their best interest in mind.
On the other hand, there will always be humans fighting for freedom.
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0 sats \ 0 replies \ @Shugard 14h
Afuera!
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0 sats \ 0 replies \ @e5fbe2d7f9 12h freebie
Hola
0 sats \ 0 replies \ @698f12932a 13h

Summary

The Wall Street Journal editorial board calls for the removal of Federal Reserve Vice Chair for Supervision Michael Barr. Barr, a favorite of Elizabeth Warren, is criticized for his role in crafting the Dodd-Frank Act and his failure to adequately address the 2023 bank runs despite warnings from subordinates. The editorial argues his focus on regulatory processes over actual financial risk contributed to the problem. The WSJ suggests President Trump could remove Barr before his term ends in July 2026, citing his poor record as justification. The piece highlights Barr's ideological leanings and suggests a replacement, Michelle Bowman, while implying the next President would bear responsibility for any future banking failures under Barr's watch. The core argument centers on Barr's incompetence and ideological bias rendering him unfit for his position.
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