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Diamond In A Rough, Uphill Battle For Federal Reserve Appointment

January 11, 2011 by  

Diamond in a rough, uphill battle for Federal Reserve appointmentPresident Barack Obama is not giving up on Massachusetts Institute of Technology professor Peter Diamond, who has again been nominated to serve on the Federal Reserve Board of Governors.

On Jan. 5, the President officially nominated Diamond — winner of the 2010 Nobel Prize in Economic Sciences — for the third time since last April. On several occasions, Republicans in the Senate stalled the appointment of Diamond. With six more seats occupied by the GOP in 2011, Diamond's future with the nation's central bank is even more unclear.

Senator Richard Shelby (R. Ala.), who is the ranking Republican on the Senate Banking Committee, said that his stance on Diamond has not changed.

"Senator Shelby remains firmly opposed to the nomination," his spokesman Jonathan Graffeo said in an email to FOX News.

Diamond didn't help his cause with Republicans last year when he publicly opposed the George W. Bush-era tax cut extension for the wealthiest Americans.

According to media reports, Federal Reserve chairman Ben Bernanke addressed the Senate Budget Committee on Jan. 7, saying that expected the economic recovery to be "moderately stronger" in 2011. In his first address to the new Congress, Bernanke said it could take "four or five more years for the job market to normalize fully," according to The New York Times

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  • CJ

    And they continue to argue “who should drive” when it’s congress who built the road. IF they were really serious about who should pay how much, congress should get rid of tax exemptions. You can change the tax RATE, but when you increase exemptions, you get less tax revenue. The FED only makes choices of which path to take to control the inflation rate, and thus peoples’ preference to spend or save. Congress, under IRS rules, decides how much we have left to choose from.

  • Bitter Libertarian

    Appoint me..I’ll GUARANTEE a Fix to the situation :)

  • s c

    Once again, victims of public education, you don’t get it. It makes NO difference who a prez wants working for the Fed. The Fed is NOT a part of the government, and NO prez ever had any constitutional authority to nominate or appoint anyone for the Fed. PERIOD. Look it up.
    The Constitution tells you what you need to know about the Fed. This is another smokescreen for the dumbed-down and voluntarily ignorant. The Fed creates problems. It is a master redistributor of America’s wealth.
    NO elected official in Washington who supports the Fed can be trusted. It will take a financial collapse for our airhead masses to understand why the Fed should have been eliminated the same day it was created. Organized crime never had it as good or as easy as the Fed. WAKE UP! Your country is imploding, and your unspeakable ignorance has you in chains.

  • Constitutional, Chris

    S.C. Is absolutely Correctomundo! The mere PORTRAYED “FEDERAL” Reserve is a Complete FABRICATION foisted UPON Americans in a RAPACIOUS (possessing the qualities of RAPE) Scheme of DECEIT, FRAUD, THEFT, and DESTRUCTION (jus “fetiales”)! There is NOTHIN “FEDERAL” and Nothing In RESERVE! the Real RESERVES; (of MONEY’S STOLEN by Private FOREIGN Banksters, of ROTHSCHILD Canaanite Yehudi lienage of the Seed of CAIN (the ACCURSED of YAH-god) whose TRUE “NAME” is:
    “Myer Amschel Bayer” (the “ROTHSCHILD” pseudonym, emmanting from the GOLD Dealership in: Antwerp Belgium, as advertived on the RED SIELD sign hanging out in Front over the entrance Door is the origination of the RED SHIELD/ ROTH SCHILD CRAFTED monicker.

    NOte ALL assets of Corp U.S. inclusive of: the Fictional Creation: FEDERAL RESERVE, The Secret Communist Police Enforcement Arm the: I.R.S., the TRUST in Tontine PONZI SCHEME; So Called: Social Security Old Age Insurance TRUST, and Corp U.S. the Government Incorporate Whore of Baba’alon, are at LAW, pursuant to the: “Breton Woods agreement of 1945 (I Think is the Right Year,) QUIT CLAIMED ALL ASSETS of Corp. U. S. to Our ENEMIES, agents of the asserted Holy Roman Catholic Vulgate (Universal) Circe- church of Shatan, Nimrod, Astoreth, Constantine-Flavious Constantine’s Hybidized assimilation of PAGAN, “Jewish” and YAHUWan(the ONE commonly referred to in ERROR as JESUS from IE SUS from ZEUS) RE-Legions, to quell; dis harmony in the Ranks of the Roman Army,of CONstantine the self demed GREAT!

    NOT one RED Cent, of what Americans Slaves, pay into the FED, goes to anything in America, (save some of the: in-side Agents and Actors masquerading as Publick Servants). It is NO CO-incedence, that the Headquaters of the FED; is Located withOUT, the Continental U.S., in: “Puerto R.I.C.O.” (as U.S.C. Title 18-1951-1966,) Racketeering Influeced Corporations Ordinaces!

    Banksters Regulating Banksters? Dodd Frank Co-CON-spirit-ors
    REgulating Banksters:(Get Real WE’ve ALL been Had!)

  • Constitutional, Chris

    AnyONE, wishing to KNOW, where the REAL RESERVES, Plundered from WE THE PEOPLE are, may google the: D.T.C.C. or M.E.R.S!

    The D.T.C.C. Holding TRUST, only has about $34 QUADrillion Dollars,(that is: 36 ZEROS following the 34 for those un-accustomed to such Amounts)?

  • http://com i41

    Just what this country needs, a book trained college elitist jackass who operates on theories, and have alwayus been on state or some form of government dole. We all see what a peice of crap the professors and multi degreed f–k ups have done the last several years.

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