“He’s so powerful that he is sometimes called the ‘power behind the throne.'” (NAKED CAPITALISM)
There’s been a sharp focus on Janet Yellen’s Chairmanship role at the Federal Reserve, and rightly so. She’s the first female Chair and she actually cares about inequality. But what is missing from virtually all Fed watching, except for this piece by Jesse Eisinger, is any recognition of how the Alan Greenspan-appointed staff at the Fed still retains substantial control of the institution through the high-level staff who were promoted into their roles by Greenspan.