[PieterCasparzen]

How did Valerie get elected to the Board of the Federal Reserve Bank of Chicago? Depending on any laws for such ‘election’, I’d say as before, “wheeling & dealing”, “investment” & connections.

The nominations of Class B directors (who represent the public) are by member banks, member banks vote by preferential ballot. Biographical information of candidates is compiled and distributed.

Obviously these votes are not taken lightly, member banks know who they are voting for and the Federal Reserve would have us (the American public) believe that an avowed communist would not be elected.

To say that simple corruption would enable one to get elected, that, say a common criminal could be elected to the Board of the Board of Federal Reserve Bank, strains the bounds of credulity.

One could certainly argue that the entire system is corrupt, given the criminal background of many in the financial system, notably in the Obama administration's case, the Pritzker family's invovlement in his campaign and administration - but then the entire system being corrupt gets back into "conspiracy theory", and I'm searching for a non-conspiracy theory answer.

[odds]

One could certainly argue that the entire system is corrupt, given the criminal background of many in the financial system...and I'm searching for a non-conspiracy theory answer.

hmm, related topic, I remember 2008 GFC.

"Wall Street" - then .. 1980s

"Wall Street" - now .. not 1980s