The Federal Reserve has selected union boss Denis Hughes, President of the N.Y.S. AFL- CIO to be head of the powerful N.Y. Federal Reserve http://www.newyorkfed.org/. See http://online.wsj.com/article/SB125112547653253819.html
1. Unqualified- Mr. Hughes is an electrician by training and is a partisan labor union hack. http://www.nysaflcio.org/?zone=view_page.cfm&page=Officers . Shockingly he was anointed despite his de mini mus – education.
2. He was appointed to the Federal Reserve as a “C” director, meaning a political selection with NO , ZERO , financial experience. Given that we are in an economic tsunami and still teetering with a recession this appointment is reckless , unconscionable and shocking as he bring nothing to the table in terms of leadership and experience to assist us out of our dire economic straits.
He attended ” Empire College” where they award half of your credits to “life experience”. Empire is well known as home study course for “mature adults” who want to obtain an ez- college degree while maintaining their employment. http://www.esc.edu/esconline/online2.nsf/html/isescforyou.html. Empire’s students are largely cops, fireman and other civil servants who are required to have a four year degree in order to advance to promotion in their respective trades.
Why, was he selected ? , where is the vetting process? What does this say about selecting the “best” candidates ? Another example of defining deviancy downward. If Hughes had any common sense or commitment to America he would decline the appointment. This is like selecting a non physic an to be the Surgeon General. Hughes took over the union after the previous President was arrested for stealing money from the union. See http://www.thelaborers.net/lexisnexis/articles/after_scandals.htm
Troubling Hughes stated in 2001 his top priority was “affordable housing” as such he was one of the lobbyist who pushed for “affordable mortgages” See http://22.214.171.124/search?q=cache:hIKU1NSfoQkJ:govinfo.library.unt.edu/mhc/hearings/testimony/dhughes.doc+denis+hughes+new+york+afl+cio&cd=19&hl=en&ct=clnk&gl=us&client=firefox-a