Obama Appoints Union Head as NY Fed Chair

Unions To Give And Receive Bailouts!

In a move that puts the fox in charge of the hen house, Barack Hussein Obama appointed Denis Hughes, president of the AFL-CIO in New York as the head of the New York Federal Reserve board today.

This means Unions are not only in charge of blowing our valuable taxpayer dollars vis a vis Obama’s shady economic bailout scheme’s, the Unions are in charge of allocating taxpayer dollars to themselves!
Hughes has zero financial experience nor does he have any education that would qualify him for this position. “Brother Hughes” as he’s known on the AFL-CIO’s website has a B.S. degree from the “Harry Van Arsdale School of Labor Studies” at Empire State College.

Harry Van who? Empire State … what? B.S. alright.

Denis Hughes is one of the AFL-CIO’s political operatives responsible for delivering near lock-step voting by Union members for Obama. To say that Obama is rewarding Hughes for his “contributions” to his campaign would be a gross understatement.

Given the history of the AFL-CIO’s strong arm thug tactics against those who oppose them, is there anyone on the planet who thinks that those institutions that come before the Fed expecting fair treatment will receive it from the likes of Denis Hughes? This is a guy who made his living out of strong-arming costly concessions in labor contracts against corporate America!

What will happen to those companies who seek capital to expand operations out of the various labor unions reach? Will they get fair treatment, or will union issues dominate the New York Fed’s monetary policy and agenda?

This latest move by Obama in rewarding his union thug friends is a recipe for economic disaster in this country. Need proof? One only needs to look at GM and Chrysler to see the damage union’s have done to this country’s once great automobile industry, and that’s just the latest example.
Remember to look for the union label (and avoid buying Union Made!)

Related Articles:
Union Boss Takeover of American Government Continues
NY Fed’s Denis Hughes: Not your Grandfathers Labor Union
NY Fed Names AFL-CIO Leader as Chairman of the Board

 Pay Day for Unions

I wrote more than a month ago that the reason the Unions want Socialized health care so badly is because they’ll reap the benefits of it. For most unions, retiree’s have to pay a portion of their continuing health care benefits as they transition to retirement. Most union’s have complained about the rising costs to their retiree’s and have turned to negotiating more costly labor contracts (See: Ford, GM, Chrysler.)

The Obama Administration is directly rewarding the labor unions by giving them another $10 billion dollars of taxpayer money to keep their health care plans through retirement – without any cuts or benefits changes.

Buried on page 65 of the 1,017 pages of HR 3200, the House's health care reform bill, and in a Senate bill as well, stands a $10 billion entitlement to keep pensions for unions like United Auto Workers as shiny and gold-plated as the day Detroit executives signed off on them.

Steelworkers, municipal employees, teachers and other union retirees will benefit from what the bills call "Reinsurance Programs for Retirees." The $10 billion cash infusion is intended to refinance Voluntary Employee Beneficiary Associations (VEBA) insurance (at Tax Payer expense) to continue coverage for unions' early retirees in restructurings.

Is this yet another reward by the Obama Administration for union support to get him elected?
In the words of a famous Alaskan, “you betcha!”

Read the rest at Investors Business Daily