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keys
Penny Collector Member
383 Posts |
 Posted - 06/07/2009 : 13:45:48
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Fed Intends to Hire Lobbyist in Campaign to Buttress Its Image
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June 5 (Bloomberg) -- The Federal Reserve intends to hire a veteran lobbyist as it seeks to counter skepticism in Congress about the central bank’s growing power over the U.S. financial system, people familiar with the matter said.
Linda Robertson currently handles government, community and public affairs at Johns Hopkins University in Baltimore,
and headed the Washington lobbying office of Enron Corp.,
the energy trading company that collapsed in 2002 after an accounting scandal.
She was also an adviser to all three of the Clinton administration’s Treasury secretaries.
Robertson would help the Fed manage relations with lawmakers seeking greater oversight of a central bank that has used emergency powers to prevent Wall Street’s demise. While she wasn’t tied to Enron’s fraud, her association with the firm may raise questions, analysts said.
“Some members of Congress think there are votes in attacking the Fed” after it “unnecessarily and unwisely entangled monetary policy with fiscal policy,” said former St. Louis Fed President William Poole.
“The Fed is going to have a tricky time of unwinding what has been done” and will need to “keep in touch with members of Congress more thoroughly,” said Poole, now senior fellow with the Cato Institute in Washington.
Robertson served under Treasury Secretaries Lawrence Summers, Robert Rubin and Lloyd Bentsen. She didn’t return calls seeking comment.
Summers Tie
Summers now heads the White House National Economic Council.
Along with Treasury Secretary Timothy Geithner, he is leading Obama administration efforts to broaden the economic rescue and overhaul financial regulation. He has been mentioned as a possible successor to Fed Chairman Ben S. Bernanke should Bernanke not be renominated when his term ends in January.
Robertson is likely to start at the Fed in July and have the title of senior adviser to the Board of Governors, the people familiar with the situation said.
She was considered for a senior post under Geithner at the Treasury but ran up against the Obama administration’s restrictions on hiring lobbyists, the people said.
“People have been asking whether the Fed is capable of getting its job done right,” said Lynn Turner, a former chief accountant at the Securities and Exchange Commission.
“Hiring a former lobbyist from Enron will surely make one wonder.”
Lawmaker Pressure
Robertson would confront a range of issues in the newly created position. Congress is looking to subject the Fed to more scrutiny, and some lawmakers have suggested that district bank presidents should be confirmed by the Senate.
Some legislators have also expressed opposition to the Obama administration’s attempt to make the Fed the regulator in charge of financial companies deemed too-big-to-fail.
In addition, the central bank has been become a target to some members of Congress who’ve posted online videos of their interrogations of Fed officials during public hearings.
One YouTube clip, of Florida Democratic Representative Alan Grayson’s grilling of Inspector General Elizabeth Coleman, has garnered almost 500,000 views in about a month.
Robertson is expected to advise the Fed on communications strategy, the people said. In recent months, Bernanke has pushed to make the traditionally secretive institution more open. He’s done a television interview with CBS’s “60 Minutes” program and taken questions from reporters at a National Press Club function in Washington.
According to her biography on the Johns Hopkins Web site, Robertson has spent more than 25 years working on federal legislative issues.
While Robertson’s Hopkins biography makes no mention of her work at Enron, federal disclosure documents show she joined the company in 2000 after working at the Treasury. Robertson, who signed some of the forms, said she lobbied on energy and tax issues.
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I think this proves beyond any shadow of a doubt we have entered Alice in Wonderland's Wonderland
-The Federal Reserve has to hire a lobbyist to try to appeas Congress
-The lobbyist in question worked for Enron (and we all know how honest that company was)
-The Fed is monetizing the debt to keep the game going, until the game stops.
-Congressinal reps turn to Youtube to get the message out (OK, that is a cost saving move, give the Congressional Reps partial credit)
sounds like Alice in wonderland, too bad we can't get the Red Queen to 'off with their heads' the ones who got us in this financial mess we are in.
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I change with the times-
but like silver coins found in your change
I stay the same.
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The United States of America started out as the new Republic of Rome.
Will The United States of America end up as the New Imperial Rome? |
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Nickelless
Administrator
USA
5580 Posts |
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El Dee
Penny Hoarding Member
USA
547 Posts |
Posted - 06/08/2009 : 11:31:54
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Better yet:
1) Tar
2) Feathers
3) Apply generously |
Trust the government? Ask an Indian. |
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Ant
Penny Hoarding Member
USA
894 Posts |
 Posted - 06/08/2009 : 20:34:39
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Okay, I'm pretty chill about everything, mostly. I'm reading mah history, brushing up on mah econ, looking ahead at market trends, seeing the big picture, making a backup plan for the backup plan . . .
And I'm FINE with that. *Really.*
But I think this little piece of news might have just pushed me over the edge.  
Alice in Wonderland? This is more like another Lewis Carroll work . . .
"The Jabberwocky"
`Twas brillig, and the slithy toves
Did gyre and gimble in the wabe:
All mimsy were the borogoves,
And the mome raths outgrabe.
"Beware the Jabberwock, my son!
The jaws that bite, the claws that catch!
Beware the Jubjub bird, and shun
The frumious Bandersnatch!"
He took his vorpal sword in hand:
Long time the manxome foe he sought --
So rested he by the Tumtum tree,
And stood awhile in thought.
And, as in uffish thought he stood,
The Jabberwock, with eyes of flame,
Came whiffling through the tulgey wood,
And burbled as it came!
One, two! One, two! And through and through
The vorpal blade went snicker-snack!
He left it dead, and with its head
He went galumphing back.
"And, has thou slain the Jabberwock?
Come to my arms, my beamish boy!
O frabjous day! Callooh! Callay!'
He chortled in his joy.
`Twas brillig, and the slithy toves
Did gyre and gimble in the wabe;
All mimsy were the borogoves,
And the mome raths outgrabe.
So help me, I will take my vorpal sword in hand! [/rant] |
Lovely dimes, the liveliest coin, the one that really jingles. --Truman Capote
Coins are the metallic footprints of the history of nations. --William H. Woodin |
Edited by - Ant on 06/08/2009 20:46:58 |
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Delawhere Jack
1000+ Penny Miser Member
USA
1680 Posts |
Posted - 06/08/2009 : 21:16:24
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quote:
Originally posted by Ant
Okay, I'm pretty chill about everything, mostly. I'm reading mah history, brushing up on mah econ, looking ahead at market trends, seeing the big picture, making a backup plan for the backup plan . . .
And I'm FINE with that. *Really.*
But I think this little piece of news might have just pushed me over the edge.
Alice in Wonderland? This is more like another Lewis Carroll work . . .
"The Jabberwocky"
`Twas brillig, and the slithy toves
Did gyre and gimble in the wabe:
All mimsy were the borogoves,
And the mome raths outgrabe.
"Beware the Jabberwock, my son!
The jaws that bite, the claws that catch!
Beware the Jubjub bird, and shun
The frumious Bandersnatch!"
He took his vorpal sword in hand:
Long time the manxome foe he sought --
So rested he by the Tumtum tree,
And stood awhile in thought.
And, as in uffish thought he stood,
The Jabberwock, with eyes of flame,
Came whiffling through the tulgey wood,
And burbled as it came!
One, two! One, two! And through and through
The vorpal blade went snicker-snack!
He left it dead, and with its head
He went galumphing back.
"And, has thou slain the Jabberwock?
Come to my arms, my beamish boy!
O frabjous day! Callooh! Callay!'
He chortled in his joy.
`Twas brillig, and the slithy toves
Did gyre and gimble in the wabe;
All mimsy were the borogoves,
And the mome raths outgrabe.
So help me, I will take my vorpal sword in hand! [/rant]
Rare is the occasion that I regret not having spent four years receiving "higher education", reading this poem has presented one such occasion.
Oh well, I get the gist of it, and I'm $50,000FRN + better off for not understanding it in depth. 
Oh yeah, all lobbyists should be required to plead their case before the entire body -- house or congress -- in full light of day.
Yeah....that'll happen.
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"Educate and inform the whole mass of the people... They are the only sure reliance for the preservation of our liberty." Thomas Jefferson
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Gr33nday43
New Member
Uzbekistan
10 Posts |
Posted - 06/08/2009 : 21:44:56
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| This is probably one of their ways to combat HR 1207... |
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Ant
Penny Hoarding Member
USA
894 Posts |
Posted - 06/08/2009 : 21:46:22
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quote:
Originally posted by Delawhere Jack
Rare is the occasion that I regret not having spent four years receiving "higher education", reading this poem has presented one such occasion.
Oh well, I get the gist of it, and I'm $50,000FRN + better off for not understanding it in depth.
Oh, it's just a little kid's poem about slaying monsters and kicking butt.  'Cause when you're 6, you're not old enough to listen to Metallica or Wu-Tang.  |
Lovely dimes, the liveliest coin, the one that really jingles. --Truman Capote
Coins are the metallic footprints of the history of nations. --William H. Woodin |
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The Fed hires a Lobbyist
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