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Forum Post: Bank of America Stadium / Job Creation

Posted 10 years ago on Sept. 5, 2012, 1:50 a.m. EST by TrevorMnemonic (5827)
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Later this week President Obama will accept the Democratic nomination for President at the Bank of America stadium

I wonder if BOA used some of that trillion they got from the federal reserve to buy that stadium.

Kucinich Calls For Bold Action to Create Jobs

“It is time for us to face the fact that leaving the enormous and devastating problem of lowering the unemployment rate up to the Federal Reserve is a mistake that we have to change. Though the Fed has a mandate to maximize employment, most of what it has done has had the effect of expanding bank balance sheets. Tellingly, the Federal Reserve is not acting to achieve its mandate of maximum unemployment, but instead is targeting an unemployment rate of between six and seven percent. And last week, the Fed Chairman hinted that more quantitative easing is coming. This has been great for corporate profits, but it hasn’t done nearly enough to stimulate businesses to hire workers or to stimulate demand in the economy."

"“We cannot leave the economic well-being of millions of Americans in the hands of an entity that serves the private financial institutions. Instead they’re talking about the same old solution that hasn’t made much of a difference so far: quantitative easing.

“We have trillions of dollars in crumbling infrastructure that private banks are not doing anything to fix, and neither is the Fed. If we want to strengthen our economy, it is time we stopped waiting and hoping for substantive action from the Fed Chairman."

  • Dennis Kucinich



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