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Best Photoshop work in history by "D.Sion.G"
It’s a good morning for our pal Mr. Bo: he’s just been appointed the Chairman of the New York Fed Board of Directors, movin’ on up from the title he currently holds, Deputy Chair. We know you’ll be awful busy, but we hope you still have time to chuckle at us when we sneak kegs into EC!
And according to HuffPo College’s Twitter, PrezBo has a good nickname. They’re calling for other College president nicknames. Forget JSex, pick MiMoo!
Congratulations, Lee. Hey, if you’re not too busy today, can you just give us a Tweet or two?
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9 Comments
@Umm.. The Chairman of the NY Fed is more or less powerless. Nothing at all like the Chairman of the Fed Governors. Regional Fed Banks are basically clearinghouses for the region’s commercial banks, and all the equity in those banks are owned by local banks. The President of the NY Fed is always a member of the FOMC, but that dude is always appointed by a process from and driven by the Fed Governors, not the local Fed.
Prezbo is basically the Chairman of a highly automated and established process where he has zero mandate (or reason) to change. He’s there because corporations need boards, and since this is a do-nothing job with no great power, why not appoint local luminaries to the board?
@I've always wondered why Prezbo is even on the Fed board in the first place? Does he have ANY qualifications or credentials? No wonder we have so many fiscal worries when the chairman of the NY Fed is a 1st Amendment scholar.
@eh It’s too far removed from Bill Campbell being the chairman of Columbia’s board of trustees despite having no academic credentials (or any number of like board appointments). The day-to-day authority of the NY Fed rests with the president, which is the spot Tim Geithner served in formerly.
I would point out that Bollinger’s also led a major research university with a $7 billion endowment for the past 7 years, so not exactly a total chump.
@eh not too far*
@... the federal reserve bank of new york needs more office space, but none of their neighbors want to sell… prezbo is their man.
@Anonymous they’ve got plenty of space in East Rutherford. Seriously.
@i too miss prezbo’s twitter
@good moring?
@Eliza Fixed! Typos! They are annoying!