The “fat cats” will love Obama’s choice

The wealthiest should love Obama's choice of Janet Yellen to head the fed. She will continue the easy money policy. And predictably, Obama will continue to demonize the "fat cats" because it plays well among his supporters. http://www.mrt.com/business/article_60e80d86-57b4-11e3-8100-0019bb2963f4.html

To the extent they pay any attention to the Fed, most Americans think the Federal Reserve system is part of our government.  It isn't.  Although the president appoints the Chair and members of the board, it is a private institution owned by private member banks (a non-profit!). Yes, indeed, it  controls our lives, but it's not part of our three branches of government, it is not part of the civil service system, you'll never see a budget or an audit (although it has been called for) and no one in government monitors it. Confusing?  Yes.