GE's Immelt Resigns from NY Fed Board

• dont_belong

  

  http://www.foxbusiness.com/markets/2011/04/28/immelt-resigns-ny-fed-board/
  
  Am I the only one that did not even realize that he was on the board of directors for the NY Fed? In addition to being the CEO of GE, he also serves as Chairman of the President's Jobs and Competitiveness Council.
  
  Does anyone else see a conflict, or irony at the very least here? Even though he has since resigned, this guy is the leader of GE which pays virtually no taxes, and was at one time involved in discussions related to QE1, QE2, and possibly QE3, which in all likelhihood will lead to massive inflation, all the while supposedly leading the charge on for jobs and competitiveness and advising the President on such matters. Are you kidding me?
• CenterBHSFan

  

  Shocking
• I Wear Pants

  Ptown needs to get in here and explain this intelligently like he does for a lot of things. Because on the surface that seems stupid as shit.
• CenterBHSFan

  

  I don't think that Ptown can rationalize this. And why should he want to? It is what it is, there's no way to "think" it better, IMO.
• ptown_trojans_1

  

  I Wear Pants;753970 wrote:Ptown needs to get in here and explain this intelligently like he does for a lot of things. Because on the surface that seems stupid as shit.

  CenterBHSFan;754032 wrote:I don't think that Ptown can rationalize this. And why should he want to? It is what it is, there's no way to "think" it better, IMO.

  
  lol, thanks for the shoutout.
  
  I have no idea why he resigned. It may have been due to the recent tax stuff he felt that being on the FED board was not wise. Or, maybe he has had a workload increase with the recent shift of GE in the market. Sure looks like he is ducking out due to the whole tax thing though.
• believer

  

  Let's not kid ourselves...this type of conflict of interest is as old as the nation itself.