A Furious Ralph Nader Calls Out The Fed As “Tribune To Plutocratic, Crony Capitalism”; Janet Yellen Responds

nader cc

We have a few really liberal (the American “modern” kind) favorites and Ralph Nader is one of them.

We like him not because he agrees with us on everything, he certainly doesn’t, but he has a moral compass. He has a deeply developed sense of right and wrong. This is something too many in the political world both on the Left and Right simply do not have.

(From Zerohedge)

In the letter, reproduced below, Nader bashes  the tediously over-dramatic indecision as to when interest rates will be raised“; demands that the Fed not lecture us about the Fed not being “political.” When you are the captives of the financial industry, led by the too-big-to-fail banks, you are generically “political.” So political in fact that you have brazenly interpreted your legal authority as to become the de facto regulator of our economy, the de facto printer of money on a huge scale (“quantitative easing” is the euphemism for artificially boosting the stock market) and the leader of the Washington bailout machine crony capitalism when big business, especially a shaky Wall Street firm, indulges in manipulative, avaricious, speculative binges with our money, and in short wants to know when the Fed will put the interests of Main Street over those of Wall Street, and stop crushing the savers of America.

Click here for the article.