[lbo-talk] Finance vs. Independence at the Fed

michael perelman michael at ecst.csuchico.edu
Thu Jan 28 20:29:13 PST 2010


Richard Smith is a historian who is doing a biography about my mother's cousin. Here is his timely piece about the corrupting influence of finance on the Fed -- in particular about A. P. Giannini got Truman to remove Marriner Eccles from his position as chairman of the Fed. So much for independence.

Smith, Richard H. 2010. "Breaking News (From 1948): Banking Mogul Ousts Fed Chairman." Huffington Post (28 January). http://www.huffingtonpost.com/richard-h-smith/breaking-news-from-1948-b_b_439398.html -- Michael Perelman Economics Department California State University Chico, CA 95929

530 898 5321 fax 530 898 5901 http://michaelperelman.wordpress.com



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