Janet Yellen is soft-spoken, tough, methodological, flexible — and Jewish. President Obama’s announcement last week that he had tapped Yellen, 67, to succeed Ben Bernanke as chair of the Federal Reserve made news in part because she would be the first woman in the top spot.
When Alan Greenspan was chairman of the Federal Reserve, he reportedly conducted meetings of the Fed's Open Market Committee by going around the table and asking the 17 members for their opinions. Only after the others had spoken would Greenspan, a towering figure in American economic policy, render his own judgment.
" . . . The Great Schlep of young Jews to Florida for the express and only purpose of convincing their elderly grandparents to vote for Barack Obama is a disgusting display of the arrogance, the chutzpah, of some of our young Jews . . . "
Wall Street's problem, in the president's mind, is not a systemic pathology, not an illness that comes on the same chromosome as the profit motive. Instead, it's the behavior of a frat boy on a bender, the reckless phase of a good-time Charlie rather than the symptom of profound disease.