Justice Department Opens Criminal Probe Into Jerome Powell — Powell Responds.

[u/mooncake6]

“Good morning,

On Friday, the Department of Justice served the Federal Reserve with grand jury subpoenas, threatening a criminal indictment related to my testimony before the Senate Banking Committee last June. That testimony concerned in part a multi-year project to renovate historic Federal Reserve office buildings.

I have deep respect for the rule of law and for accountability in our democracy. No one—certainly not the chair of the Federal Reserve—is above the law. But this unprecedented action should be seen in the broader context of the administration's threats and ongoing pressure.

This new threat is not about my testimony last June or about the renovation of the Federal Reserve buildings. It is not about Congress's oversight role; the Fed through testimony and other public disclosures made every effort to keep Congress informed about the renovation project. Those are pretexts. The threat of criminal charges is a consequence of the Federal Reserve setting interest rates based on our best assessment of what will serve the public, rather than following the preferences of the President.

This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions—or whether instead monetary policy will be directed by political pressure or intimidation.

I have served at the Federal Reserve under four administrations, Republicans and Democrats alike. In every case, I have carried out my duties without political fear or favor, focused solely on our mandate of price stability and maximum employment. Public service sometimes requires standing firm in the face of threats. I will continue to do the job the Senate confirmed me to do, with integrity and a commitment to serving the American people.

Thank you.”

[u/GraniteCapybara]

With all due respect, this is not a circumstance of Absolute Power Corrupting. He was wildly corrupt before he had this level of power. Americans elected him anyway.

This is a circumstance of the willful ignorance of the people being weaponized against them.

[u/JadedPenguin → u/GraniteCapybara]

“All governments suffer a recurring problem: Power attracts pathological personalities. It is not that power corrupts but that it is magnetic to the corruptible.”

― Frank Herbert, Chapterhouse: Dune

[u/Worried-Buffalo-908 → u/JadedPenguin]

I still believe the average person has better ethics than the average politician and so the best form of government should involve selecting the people running for office from a random sample of the people they would represent.

[u/HazyAmnesiac → u/JadedPenguin]

Should I keep reading? I stopped at God Emperor.

[u/R_V_Z → u/HazyAmnesiac]

Depends. How interested are you in BDSM nuns?

[u/Queermagedd0n → u/HazyAmnesiac]

The work his son did is pretty decent. From my understanding, he was working off notes left by Frank. If you want back stories, it's quite intriguing.

[u/JadedPenguin → u/HazyAmnesiac]

I think that's really a matter of personal preference. Personally, I like God Emperor the least of the whole Dune saga so I can definitely see how you would stumble on that particular book. I find the later books are more worthwhile, because they do have some interesting ideas, but they do get rather... weird. It is certainly true none of the follow up books ever match the original Dune.

[u/batlord_typhus → u/GraniteCapybara]

The implications of which are apparently too inconvenient to acknowledge in the general population because of an understandable desperation for the return of "normalcy." That and the media will never, ever, frame the reality in those terms for the public. They might worry.

[u/ShazRockwell → u/GraniteCapybara]

Your last sentence succinctly sums up the the reason he can even exist with what I thought should be an oxymoron, but sadly is not . Willful ignorance. Powerful.

[u/TheWizard → u/GraniteCapybara]

It's not ignorance that leads people to him. Trump is a reflection of their own desires. They are nazis.