Donald Trump is stacking the Federal Reserve Board with a Wall Street crony who will work for big banks at the expense of working Americans. This morning the Senate Banking Committee considered the nomination of Randal Quarles to serve on the Federal Reserve Board of Governors; if confirmed, Qarles would serve as the board’s chief overseer of the financial system, a scary reality considering Quarles has long ties to the banking industry and has advocated for deregulation that could result in another 2008-style financial crisis.
“Nominating Quarles just further proves that Trump is hell bent on appeasing Wall Street at everyone else’s expense,” said Shripal Shah, Vice President of American Bridge. “Quarles isn’t a watchdog, he’s a lapdog, and if he has his way, he’ll further rig the financial system for big banks the moment he gets the chance. He’s not fit to serve in a regulatory role and the Senate should […]Read more after the jump.