The brand new York Federal Reserve Board, faced with overseeing Wall Street banking institutions, switched over its typically staid formal web log this week to an extremely contentious argument in protection of high-cost payday lenders, that are partially funded by the exact exact same big companies the Fed is meant become regulating.
Michael Strain, a resident scholar at the American that is ultra-conservative Enterprise think tank, co-authored the piece. While articles during the ny FedвЂ™s Liberty Street Economics web log constantly caution that the views expressed usually do not mirror the career regarding the local bank, it really is extremely uncommon to possess anybody from an ideological presume tank write an article there. Overview of the very last 90 days of Liberty Street Economics articles shows hardly any other example with this occurring. Continue reading “Right-Wing Think Tank Shills for Payday Lenders on Ny Fed Web Site”