WASHINGTON, Aug 24 (Reuters) - The Federal Reserve Bank of New York on Monday named labor leader Denis Hughes as chairman of its board of directors, filling a vacancy created when the previous chairman stepped down amid questions over his purchases of Goldman Sachs (GS.N) stock.
Hughes, who has served as acting chairman since Stephen Friedman stepped down in May and who is president of the New York State AFL-CIO, was named chairman for the remainder of 2009. ...
http://www.reuters.com/article/marketsNews/idUSN2414172020090824I can't see a disaster in the making at all. Isn't the AFL-CIO still insolvent?
