The populist outrage against the financial services industry's excesses is apparently analogous to anti-Semitic rants from the 1930s — at least in the mind of one Federal Reserve Board official.Richard Fisher, the president and chief executive of the Federal Reserve Bank of Dallas, made the comparison in a speech to the Texas Bankers Association on contributing factors to the financial crisis.
"Who is to blame?" he asked. "Well, if you had been listening to the radio on Feb. 26, 1933, you would know the answer. You would have heard a crazed Father Charles Coughlin, pastor of the Shire of the Little Flower in Royal Oak, Mich., rail against 'the Morgans, the Kuhn-Loebs, the Rothschilds, the Dillon-Reads, the Federal Reserve banksters, the Mitchells and the rest of the undeserving group.' "