RSN Fundraising Banner
John Oliver Breaks Down Why Trump Nominating 'Alleged Sexual Harasser' Herman Cain to the Fed Is Dangerous
Written by <a href="index.php?option=com_comprofiler&task=userProfile&user=34577"><span class="small">Marlow Stern, The Daily Beast</span></a>   
Monday, 08 April 2019 12:56

Stern writes: "On Sunday night, John Oliver didn't address the recent news of DHS Secretary Kirstjen Nielsen's resignation - his show tapes earlier in the day, as it were - but instead dedicated the opening portion of Last Week Tonight to Trump's recently announced plan to nominate Herman Cain to the Federal Reserve Board."

John Oliver. (photo: HBO)
John Oliver. (photo: HBO)


John Oliver Breaks Down Why Trump Nominating 'Alleged Sexual Harasser' Herman Cain to the Fed Is Dangerous

By Marlow Stern, The Daily Beast

08 April 19


“These two guys are just goofs—they’re a pair of dangerously goofy goofs—and this isn’t actually a job where that’s OK,” explained the ‘Last Week Tonight’ host.

n Sunday night, John Oliver didn’t address the recent news of DHS Secretary Kirstjen Nielsen’s resignation—his show tapes earlier in the day, as it were—but instead dedicated the opening portion of Last Week Tonight to Trump’s recently announced plan to nominate Herman Cain to the Federal Reserve Board.

“In between claiming his father was born in Germany when he was born in New York, mispronouncing the word ‘origins’ as ‘oranges’ repeatedly, and trolling Joe Biden for touching women inappropriately, which seems, you know, a bit fucking rich, Trump made a major and shocking decision on Thursday regarding the Federal Reserve,” Oliver said.

Yes, he nominated Herman Cain—the former Godfather’s Pizza CEO, Pokemon-movie quoter, Anita Hill joke-maker, Fox News contributor, and man who was forced to drop out of the 2012 presidential race after five women accused him of sexual misconduct.

“You think the résumé of a pizza maker, talk-show host and alleged sexual harasser would be pretty unusual for the Fed? Well, why don’t you tell that to the rest of the board: six Mario Batalis,” joked Oliver. “But it is true: picking Herman Cain for the Federal Reserve is bonkers, and it comes just two weeks after Trump also said he’d nominate Stephen Moore, a TV commentator and fellow at a conservative think tank.”

Oliver then threw to a clip of Sarah Bloom Raskin, the former U.S. deputy secretary of the Treasury and Federal Reserve Board member, who said of Trump’s nominations: “It’s one thing to be putting your political friends and cronies within the agencies, but to put them on the board of the central bank is something that has to be done very, very cautiously, because the moment the Fed loses credibility it’s almost game over.”

Yikes. “You don’t fuck around with the Fed—and that is because a lot of America’s economic power depends in people’s trust in the stability of the dollar. It is the world’s reserve currency in part because the Fed is seen as a reliable, independent institution,” Oliver explained. “Trump has actually already filled four of the Fed’s seven seats, including the chairman Jerome Powell, but those appointments didn’t get much press because all of these people are fundamentally qualified. Cain and Moore, however, are not. Cain has argued for a return to the gold standard—a virtually unheard-of opinion among respected economists—while Moore is a tireless advocate of supply-side economics, he helped design the tax cuts that blew a hole in Kansas’ budget, and he once asked if the country even really ‘needs a Fed.’”

“These two guys are just goofs—they’re a pair of dangerously goofy goofs—and this isn’t actually a job where that’s OK,” he added. “Fed Board members are famously careful with anything they say in public because markets can react violently. Just two words from the Fed chair sent markets soaring last November… And these two are not known for thinking before they speak.” 

Email This Page

e-max.it: your social media marketing partner
 

Comments   

A note of caution regarding our comment sections:

For months a stream of media reports have warned of coordinated propaganda efforts targeting political websites based in the U.S., particularly in the run-up to the 2016 presidential election.

We too were alarmed at the patterns we were, and still are, seeing. It is clear that the provocateurs are far more savvy, disciplined, and purposeful than anything we have ever experienced before.

It is also clear that we still have elements of the same activity in our article discussion forums at this time.

We have hosted and encouraged reader expression since the turn of the century. The comments of our readers are the most vibrant, best-used interactive feature at Reader Supported News. Accordingly, we are strongly resistant to interrupting those services.

It is, however, important to note that in all likelihood hardened operatives are attempting to shape the dialog our community seeks to engage in.

Adapt and overcome.

Marc Ash
Founder, Reader Supported News

 
+8 # Jim Rocket 2019-04-09 02:26
Moore is as radical a right-winger as there is. He is also a dedicated Koch Bros. hench-dummy. What could go wrong?
 
 
+10 # Citizen Mike 2019-04-09 07:32
Nice to see these pussy grabbers stick together and support each other...now Trump will have another tool to jerk the market up and down while his agents buy low and sell high again and again. So smart of him to have not divested his business interests, he can really capitalize on his presidency, which makes him a capitalist of heroic proportions. He's smarter than Wiley Coyote!
 
 
+4 # twocents 2019-04-09 14:30
Couple these wunderkinds with the Saudi-Prince-ah ole-buddy saying he would stop selling oil in dollar denominations and ...CRASHHHHHHH! !!