Originally published at: Warsh Hearing Reveals How Tightly Trump Has Tied Himself in a Knot on Fed Control
President Donald Trump’s own words were repeatedly used against him Tuesday during a bumpy confirmation hearing for Trump’s Federal Reserve Chair nominee Kevin Warsh. During a two-and-a-half hour Senate Banking Committee hearing, the risk poised by the president to Federal Reserve independence loomed large as Democratic and Republican senators pressed Warsh on Trump’s own statements…
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No Trump nominee has ever lied before. We should trust him. Seems honest.
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Democrats also raised issue with Warsh’s asset portfolio, which totals more than $100 million, and the potential conflicts of interest that it could raise. Warsh repeated that he’d worked with the Government Ethics Office to devise a plan to divest those assets.
“I assure this committee that I will abide by the same high standards the OGE has set for every member of the Executive (Branch) from the President on down,” Warsh said.
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You forgot the ‘snark’ tag. Probably not needed here.
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Huh? No it doesn’t. Independence is a presumption of this position. This answer gives away the game; not that we needed any more proof than the fact that Trump nominated him, but he’s just another stooge willing to damage anything for daddy Trump.
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Warsh, the son in law of Trump buddy Lauder, is a complete stooge of the regime. If MAGA party members of the Senate are dumb enough to confirm him, Warsh will follow orders and destroy the independence of the Fed.
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After watching the Supreme Court gutting these last years you can’t trust anything a Trump nominee tells you. Better to let this guy go back to the pri8vate sector.
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Even Congressional hearings continue the path from bad to travesty. They used to make some pretense of asking legit questions. Now the rethugs just preen & snark. “I’m glad you are too busy to watch Seinfeld, that gets my vote…”.
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As it stands, Warsh seemingly has no chance of confirmation, as senators of both parties object to a bogus Justice Department investigation into current Fed Chair Jerome Powell and the cost of Federal Reserve building renovations that appears to be ongoing.
Oh, please. It will be along party lines.
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Something about Lucy, football, comes to mind.
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So basically he’s going to use this as an opportunity to avoid capital gains tax liability, then reinvest the assets in a way that implicitly complies with the velum-thin ethics standards of this administration, while growing his wealth (and that of his heiress wife) even further.
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I’ve been wrong before.
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What this country needs is another rich plutocrat involved with setting economic policy. Not. And I’ll lay dollars to donuts that Warsh is the one lying; he’ll be kissing the president’s* ass as soon as he’s confirmed. Let’s hope Senator Tillis sticks to his guns.
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‘We have to find out why a small building costs $4 billion’ from the guy spending like $1 billion per day on his vanity war.
OMG was that ever a big fat slow pitch out over the plate for Democrats. Did anyone take a swing?
I made that up. But it sounded believable, huh?
This is where we are.
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Did any Senator ask this hack when it was that he heard there would be an opening for Chairmanship of the Fed? Because if you’re conspiring to violate the Federal Banking laws it’s best to start early…
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