President Joe biden's nominee for
the Federal Reserve Board is being rejected by Senator Joe Manchin.
In fact, he is going along with the republicans in the Senate to share his
objections to this nominee.
And if she were confirmed, she would essentially serve as the top cop for
banks within the Federal Reserve.
Now, why is it that Manchin is against her?
Well, his own greed and corruption, there's no question about that.
So let me give you all the details here.
The woman in question, Sarah Bloom Raskin apparently has a history of,
looking into how the climate emergency is impacting our economy.
She has also previously written OP EDs where she called on
the Federal Reserve to stop providing loans to Fossil fuel companies.
And guess what?
Joe Manchin doesn't like that because he makes quite a bit of money from the fossil
fuel industry.
In fact, he makes half a million dollars a year off of a coal company known as
Inner Systems, which he is a part owner of.
Now with that said, here's what Manchin is saying.
Mansion, a West virginian who has close ties to the fossil fuel industry and
has rejected much of Biden's climate agenda, cited her statements
on climate and energy policy and pointedly noted that the board quote,
is not an institution that should politicize its critical decisions.
Yeah, don't politicize any of your political decisions.
Your decisions should be determined for you by corporate donors and
by your own personal financial motives.
Like is the case with me?
That's what Manchin saying.
He also says her previous public statements have failed to satisfactorily
address my concerns about the critical importance of financing and
all of the above energy policy to meet our nation's critical energy needs.
I have come to the conclusion that I am unable to support her nomination
to serve as a member of the Federal Reserve Board.
So, look, Manchin isn't hiding his reasons.
He is being very blunt here.
He is telling you, I don't like what she had to say about the climate emergency and
how it's impacting the economy, it threatens my own personal profits and so
I'm against it.
Now, there are some issues in her history though,
Manchin notably did not cite those issues.
>> Yeah.
>> I will get to that later Jink.
>> Okay, so those issues have absolutely nothing with why she's being voted down.
In fact, it might have been the only thing that might have saved her, but
as it turned out, it didn't.
So, to the heart of the issue, Joe Manchin says, look, I don't want you to politicize
this position that is why I'm politicizing it first, since I don't agree with your
political positions, I'm gonna make sure you're not allowed on the board.
I only want people on the board that agrees with my political positions and
also my financial positions.
If you don't help me with my corruption, you're not gonna get that position.
It's brazen.
She is concerned about climate change.
So is 89% of the world and Manchin like, no,
I don't want any reasonable human being.
I don't want anyone who believes all the scientists in the world.
I only want someone who will raise their hand and say, I swear to God,
I will help Joe Manchin and his corruption.
I will continue fossil fuel subsidies.
They're the most profitable companies in the world.
What do they need subsidies for?
Well, Joe Manchin needs more money to stuff into his pig mouth.
>> That's exactly right.
In fact, he said, let me give you this quote is a graphic three.
The Federal Reserve Board must remain hyper focused on ending the inflation
taxes, hurting working families, he means oil companies and the fossil fuel
companies, and getting more workers off the sidelines and back into the economy.
He wants to repeal certain taxes.
>> Yeah. >> That's his one priority.
>> So the most important part of this story is not Sarah Bloom Raskin or
the Federal Reserve Board, it's that joe Manchin is the president.
So George W Bush had a funny line.
He's like, my job title would be decision maker, right?
Well, your job does have a title as President and Commander in chief.
But it goes to the point of, well,
the president is the one who makes the decisions.
Well, who's making decisions in Washington?
Let's be honest.
It's clearly Joe Manchin, it is not Joe Biden.
So joe biden has handed his presidency to joe Manchin.
And when I point out that obvious fact, anybody watching now goes, well,
that's obviously true, Joe Biden wanted Sarah Bloom Raskin and Joe Manchin didn't.
So who won?
It looks like Joe Manchin won.
Well, Joe Biden wanted to build back better so
much he named it after his own campaign pledge slogan.
So Joe Biden wanted it, Manchin didn't, who won?
Joe Biden wanted voting rights, Joe Manchin didn't, who won?
Who's President?
Joe Manchin's President?
Why?
Because Joe Biden let him be president.
>> That's right.
>> And whenever I mention these things on social media, you get all the ass
kissers who go come out there and go, there's nothing you can do, check,
I swear, you know the account, you know that the senate only 50 democrats.
You children, you sad, sad children.
So you think politics is only about well, I guess they voted that way,
there's nothing I could do.
What a bunch of losers.
If LBJ had done that,
we wouldn't have the civil rights act, we wouldn't have the voting rights act.
Well, I guess I don't have enough votes in the center of the house,
LBJ didn't have anywhere near the votes.
Here to get a mountain of votes to get past the filibuster to get those FDR,
he had to get past an unbelievable fight to get Social Security.
And in that fight, he called out one person after another after another.
But these losers today would be like, well I guess FDR doesn't have the votes,
I guess we're not getting Social Security.
I mean, what do you want us to do?
Fight for it?
You incompetent fools, yes.
In politics, you're supposed to fight for it.
You're supposed to use carrots and sticks.
Now, I know you have sticks because you use them against progressives
all the time.
Like if you're in a primary, yes,
progressives, that guy might be gay, that guy's yeah, I already is hitting.
>> They'll pull all sorts of tricks out of their little hat, all sorts of tricks,
all sorts of smears, all sorts of opposition research campaigns.
They will fight aggressively.
It's not like democrats don't have it in them.
But look, we know what the reality is, democrats are paid to lose on bread and
butter issues.
>> Paid to lose.
>> Their paid to lose.
Stop believing that it's because they're weak which in some areas there definitely
just weak, feckless, pathetic lawmakers, but they're also just paid to lose, right?
So rhetorically they will message to the american people that
they care about these bread and butter issues.
They'll promise you the moon and the stars while they're campaigning, but
then they'll turn around and they'll abandon you.
Why do they do it?
Because they're paid to lose on the very policies that they claim to be in
favor of and then once election season comes around, how do they campaign?
What do they do?
You've got to vote for us because if you don't vote for us,
you gotta elect more of us.
If you like more of us, then maybe we'll do something.
Even though during the Obama administration,
not only did they have the executive branch,
they also had a super majority of democrats in Congress and they couldn't
even get a public option passed with Obama's signature Affordable Care act.
They're feckless and their corrupt.
Those are the two defining words.
Okay, descriptions for the Democratic Party.
It's just the truth of the matter.
>> And joe biden, I mean on domestic policy, he seems pathetically weak.
Like he can't get out of bed he's so freaking week.
I mean, what would I do about Manchin?
I don't know.
Have you tried one thing, has Joe Biden tried one thing and
doing something about Hoe Manchin?
And I was promised not just by mainline democrats, I was promised by so
called progressive leadership that we should trust Joe Biden,
Joe Biden was a political genius.
My God, does he know how to move the senate?
Well, they appear entirely unmoved.
There is no question that Joe Biden is a massive failure on domestic policy.
Now what's weird is Joe Biden is incredibly strong in foreign policy.
>> Some areas, Yes.
Yeah, on Ukraine,
he's been terrific and you've seen us say that because we're not biased.
We just call it as it is based on the facts.
He struck an amazing balance, showed incredible strength against Putin,
done a wonderful job of uniting our allies.
Why am I telling you that now?
Because apparently he does know how to be strong, but
yet all mentioned knocks down $15, minimum wage, child tax credit,
lower drug prices, and all the way down the list.
Sarah Bloom Raskin wants to regulate the big banks and
wants to do something about climate change.
All of a sudden, Joe Biden can't find his slippers to get out of bed.
Golly Gee, I'm so weak.
There's nothing I could do.
>> What's notable to me is that for joe Manchin, her work on and
her op EDS regarding climate change is what he decided to site.
That is what he believes is the most problematic element of her history.
But there are actually other issues that he did not cite,
that he did not find problematic because these are issues that he is in favor of.
These are things that he loves and it has to do with that revolving door.
It has to do with the close ties between the political world,
in the corporate world.
So I want to go to graphic four and five here where the New York Times reported
that Raskin served time on the board of directors for this financial technology
firm called Reserve Trust which secured a coveted account with the Federal Reserve.
Giving it access to services that it now prominently advertises after Raskin
reportedly called a central bank official to intervene on its behalf.
That's a problem.
That's a huge conflict of interest, notably Manchin and
mentioned that he has no problem with that.
Those conflicts of interest, he loves it.
He has his own conflicts of interest.
The episode has raised questions because she previously worked at the Fed and
because she made about $1.5 million from the stock she was giving for
her reserve trust work.
>> So, she should answer those questions,
it's unacceptable that she's not answering them.
So they can say, hey look, we're not getting a fair shake.
That's absolutely true.
But if you answer those satisfactorily then we would fight even harder for you.
But it doesn't really matter guys because that was
actually the one thing that was to her benefit in the Senate for these senators.
>> Yes, because they loved the corruption.
Yeah, the Senate was like, I guess they didn't really believe she was
corrupt because if they thought she was really corrupt,
they would have confirmed her right away, right.
They were like, then we'll just tell her to be in favor of oil and
she'll be in favor of oil.
>> She's one of us.
>> Yeah, there's no question they think she is not at all corrupt.
Otherwise she would have flown through the Senate and by the way, of course,
as usual, every Republican is corruco.
Every Republican says no way our beloved oil companies destroying the planet but
giving us donations..
We will protect them and
plus the Republicans are even more furious that she liked to regulate banks.
She's at the Federal Reserve.
That's the [LAUGH] federal reserve is supposed to regulate the banks.
They're like, you better not, you're just supposed to print the money and
give it to our donors, okay, so the Republicans, as usual, 100% corrupt.
And the Democrats go,
I guess there was nothing we could do about their corruption.
Did I take money from the same exact campaign donors?
Golly G make sure you listen to mainstream media telling you that has nothing to do
with our decisions?