by Pam Martens and Russ Martens
Wall Street on Parade
Last Wednesday Janet Yellen, the Chair of the Federal Reserve (the central bank of the United States) regurgitated the notoriously fake information that has been spewing from columnists at the New York Times since 2012 on the causes of the epic Wall Street financial crash of 2007 to 2010.
Yellen was taking questions during her press conference on the Fed’s announcement of a rate hike. John Heltman, a reporter for American Banker, posed the following question to Yellen:
Heltman: “The administration recently reiterated its support for reinstatement of Glass-Steagall. Treasury Secretary Mnuchin has called for a 21st Century Glass-Steagall. Keeping in mind that there’s no specifics on this proposal, is the fundamental idea of separating commercial banking from investment banking a fruitful line of inquiry. Is this the right path to be pursuing?”
Yellen answered as follows: