Fed Governor Elizabeth Duke Resigns

[MNeagle]

Fed Governor Elizabeth Duke Resigns




Submitted by Tyler Durden on
07/11/2013 10:35 -0400

• Ben Bernanke
  
• Federal Reserve
  
• Fisher
  
• President Obama
  
• Wachovia

A harbinger of what will happen to the Chairsatan perhaps? Or is this just a
logical response of what the "other half" of the Fed, those who demanded an end
to QE by the end of 2013, think about Bernanke's latest public statement. If
Dick Fisher quits next, watch out.

From
the Fed:

Elizabeth A. Duke submitted her resignation Thursday as a member of the Board
of Governors of the Federal Reserve System, effective August 31, 2013.



Duke, who has been a member of the Board since August 5, 2008, submitted her
letter of resignation to President Obama. She has made no announcements about
her future plans.



"Betsy has made invaluable contributions to the Federal Reserve and to the
country during her five years at the Board," said Federal Reserve Chairman Ben
S. Bernanke. "She brought fresh ideas grounded in her deep knowledge of the
banking industry and the real-world dynamic between borrowers and lenders. I
wish her the best in her future endeavors."



Duke, 60, was appointed to the Board by President Bush to fill an unexpired
term that ended January 31, 2012. During her time on the Board she served as
Chairman of both the Committee on Consumer and Community Affairs and the
Subcommittee on Supervision and Regulation of Community and Small Regional
Banking Organizations.



Before joining the Board, Duke was Senior Executive Vice President and Chief
Operating Officer of TowneBank, a Virginia-based community bank. Prior to that,
she served as an Executive Vice President at Wachovia Bank and as an Executive
Vice President at SouthTrust Bank. Earlier in her career, Ms. Duke was President
and Chief Executive Officer of Bank of Tidewater, based in Virginia Beach,
Virginia.



A copy of her resignation letter is attached.

Letter:

Fed Duke by zerohedge
http://www.zerohedge.com/news/2013-0...h-duke-resigns

[ximmy]

Betsy has made invaluable contributions to the Federal Reserve and to the
country during her five years at the Board," said Federal Reserve Chairman Ben
S. Bernanke.

Yes! Life's been good since 2008...