[lbo-talk] OWS Teach-In: Where to start?

c b cb31450 at gmail.com
Fri Oct 7 08:58:13 PDT 2011


Doug Henwood On Oct 7, 2011, at 10:08 AM, shag carpet bomb wrote:


> what is this obsession with the fed some of these folks have? could
> someone give my lazy ass an executive summary?

It fits perfectly with the conspiratorial mindset. It's a fairly opaque institution that does work for the big guys. But it's not their puppet - a friend who spent many years at the NY Fed once told me that within the institution, the thinking is that bankers come and go but they have to do the long-term thinking for the ruling class. So it has more autonomy than the paranoid allow.

^^^^^ CB: So , the Fed does the long term thinking for the ruling class, but that's not a non-conspiratorial, Left, Marxist, working-class partisan reason to knock the Fed ?



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