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While true this is rather important in the finance world. Firstly, that one of the 12 regional reserves would call it thus, is something. Secondly, Kashkari (si
by cik 5y ago
While true this is rather important in the finance world. Firstly, that one of the 12 regional reserves would call it thus, is something. Secondly, Kashkari (sidebar: best name ever for a banker) is considered the most soundly minded amongst those bankers, and incredibly well respected - even in these circles. If Kashkari is branding it thus, it means there's something to watch here.
- an_opabinia 5y agoI don’t need to be a federal reserve chairman to reason that Doge is a Ponzi scheme. The problem is that people want to participate in Ponzis, for the most part, it turns out.
- hobs 5y agoActually no - at the end of the ponzi more people are inevitable left holding the bag and are worse off than when it started.
- gogopuppygogo 5y agoCrypto currencies today are basically all decentralized Ponzi schemes inflated in value by the very centralized tether that is is printing something like $4Bn a week of new tether with no US dollar currency known to be backing it: https://youtu.be/-whuXHSL1Pg https://youtu.be/-whuXHSL1Pg
- SideburnsOfDoom 5y ago> The problem is that people want to participate in Ponzis, for the most part, it turns out They do until they don't. e.g. (1). Regulation has a role in acting now to prevent harm down the road. 1) https://en.wikipedia.org/wiki/Pyramid_schemes_in_Albania https://en.wikipedia.org/wiki/Pyramid_schemes_in_Albania https://thetchblog.com/2019/03/18/albanias-pyramid-scheme-nightmare/ https://thetchblog.com/2019/03/18/albanias-pyramid-scheme-ni...
- WalterSear 5y agoPeople also want to drive drunk.
- deleted 5y ago[deleted]
- qaq 5y agoNo way on the best name ever for a banker:) during LIBOR fix scandal the emails between banking execs Mr Diamond and Rich Ricci surfaced :)
- cwkoss 5y agoAptronyms!
- chalst 5y agoI think the point is that if you want to name the office in four words without being misleading, you should go with something like "Minneapolis Federal Reserve President", not just "Federal Reserve Bank President". I'm familiar with the FRB structure and I did not pick up on that "president" was used and not "chair".
- 015a 5y agoIt seems to me that: the title they used is accurate, and if you want them to clarify it in order to diminish the reader's perception of the amount of power someone in that position has over policy, the issue is not with the article, but with your underestimation of how much influence and power Federal Reserve Presidents have.
- akarma 5y agoIt's fair to point out because people not in finance colloquially think of "bank president" as leader, not as "not leader, and not even actual president of the whole bank." As for the influence of a Federal Reserve Bank of Minneapolis president, it's complicated. They're appointed by the board of directors of the Minneapolis Fed, and the directors are elected by the member banks — it's not a top-down process. To give perspective on size, the Minneapolis Fed has around $40 billion in assets, compared to the Fed's total of $8 trillion. There's way more that also matters, but the Minneapolis Fed's president is nowhere near Jerome Powell in influence.
- kace91 5y ago>(sidebar: best name ever for a banker) That title belongs to Emilio Botín, who used to lead Spain’s largest bank and hid several hundred millions in a secret account in a Swiss bank. Botín is spanish for pirate booty :)
- cik 5y ago> That title belongs to Emilio Botín, who used to lead Spain’s largest bank and hid several hundred millions in a secret account in a Swiss bank. I loved when the Botin story came out. Hi name was poetry in motion!