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Former Fed Employee Is Charged With Felony For Threatening To Kill Boss

Posted on May 10, 2014

Perhaps we should be more measured with our criticism of the Federal Reserve System. It is an emotional topic for many Americans, and it’s not hard to understand why. The Federal Reserve System is a direct cause of the systematic devaluation of the average citizen’s money and exacerbates the income gap by funneling freshly printed money to the big banks. This allows the rich to get richer by investing the funny money before it loses purchasing power.

The whole thing really ticks me off, but after reading an article about the psychotic behavior of a former Federal Reserve employee, I would be reluctant to criticize the Fed in the presence of an employee of the world’s most powerful banking cartel. Zero Hedge has some stellar coverage about a former San Francisco Fed employee, and current employee at the Federal Housing Finance Agency (FHFA), that threatened to kill his boss and then take his own life.

Richard Hornsby, Chief Operating Officer of the FHFA, was arrested and charged with a felony for threatening to kill Edward J. DeMarco. Mr. DeMarco was Hornsby’s superior at FHFA and retired from the agency as planned on April 30th of this year.

Retirement is supposed to be a happy time as one begins the transition into the more relaxed part of life. Unfortunately, DeMarco’s retirement was chaotic. He had to be escorted to a secure location after Hornsby threatened his life on Aril 28th. The death threat was supposedly the result of poor job performance rating given to Mr. Hornsby by Mr. DeMarco.

Before starting at the FHFA in November 2011 Hornsby, fifty-eight-years-old, worked for twenty six years at the Federal Reserve Bank of San Francisco. Zero Hedge reports on Hornsby’s role at the San Fran Fed:

Hornsby served at the Federal Reserve Bank of San Francisco for 26 years, holding a variety of senior level management and banking supervision positions. Most recently, Hornsby was group VP and division head for the Reserve Bank’s Financial Planning and Control and Corporate Administration Divisions. In this position, he oversaw many of the Bank’s support functions in nine states. Prior to that, he served as group VP in charge of the Bank’s Portland Branch having responsibility for director relations, branch administration and business continuity. Hornsby also directed the Bank’s business development and customer support functions bankwide. He also served as a key member of the senior management team of the Federal Reserve’s National Support Function Office which provides electronic access to the Reserve’s financial services clients nationwide. In addition to his senior management positions, he was a Supervising Examiner in the Division of Banking Supervision and Regulation for 10 years, having regulatory responsibility for bank holding companies, banks and non-bank subsidiaries.

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18 thoughts on “Former Fed Employee Is Charged With Felony For Threatening To Kill Boss

  1. Holy Shirt says:

    Obama and Holder want to file felony charges against some poor slob who has committed suicide?

    What is their proposed remedy? Officialdumbth's revoking the poor stiff's license, so he cannot drive anymore?

    Sharing the Arrogance that follows sudden Power and Wealth, Obama and Holder 'have been holding it too much!'

  2. Holy Shirt says:

    Milton Friedman could make a case for awarding Hornsby the Congressional Medal of Honor!

  3. America was not made for a tyrant government, they belong in a garbage can!

  4. DefendConstitution says:

    Unfortunately, to put them in a garbage can would require members of Congress to have some balls and so far, I only see about 7 out of 535. Not very good odds. God save America because the politicians sure wont.

  5. I suspect that a lot of government employees should be given poor performance reviews. That seldom happens in any administration because there is no over-riding need for efficiency as there is in the private sector. A good many people working for government would have to make major changes in their work ethic or be on the street living in the economy where most of us survive. In government the expectations for management must be raised both for the managers and for those whom they manage. See my blog at http://cranky-conservative.blogspot.com

  6. Has anyone else noticed that the worst specimens of humanity are all now working for the federal government?

  7. That's always the case with governments. Parasites and cowards are always attracted to ill-gotten gains and power.

  8. And the majority are blacks with no real knowledge of the jobs they are assigned to.

  9. redmeatstate says:

    Leon Russell once said the problem with government (and Law Enforcement for that matter!) is that THE WRONG PEOPLE TEND TO GRAVITATE TOWARDS POSITIONS OF POWER AND AUTHORITY!!

  10. @Jerry, me thinks you have "no real knowledge" as to the validity of your claim. I, for one, work at the Dept of Labor and can attest to the fact that most of the employees, black or white, do not deserve to keep their jobs. Their race has nothing to do with their poor work ethic or lack of proper training.

  11. Tionico says:

    Yup. Laziness, incompetence, and lack of initiative know no boundaries of colour or ethnic background.

  12. icetrout says:

    that goes for Government employees in general…was a time when they were happy to be civil servants… now they consider the citizens to be slaves to provide tax monies for their pay & pensions & health care… this will not end well… 🙁

  13. A good point indeed on Freidman. . Zero Hedge is likely the best economic outlet available on the planet. I refer them on my site and investopedia as well to help people understand the jargon. Most folks don't have a clue what has actually happened or why ? But it is all at my site if one cares to know the truth if the matters ?

  14. Years ago, the husband of wife's friend was a retired IRS agent. I knew from past conversations there was no love lost between him and his former employer (due to a big hassle with getting his benefits).

    So (without letting on how anti-IRS I was), I drew him out on the subject one evening. I asked: "Bob, the IRS has gotten a really bad rap in recent years with the general public. Why do you think they are so hated?" Without hesitation, he said: "Affirmative action! Once that became the law, anybody could get a job with the government!"

  15. Robert What? says:

    I’m just an ordinary, hardworking, productive, taxpaying American (you know – the type disparaged by the Administration) – I’m no financial wiz. But as near as I can tell, the primary purpose of the Fed is to enrich the members and their cronies at taxpayer expense. Am I wrong?

  16. 1baronrichsnot1 says:

    Robert and Danno, I ask a retired IRS guy once, just how many worked for IRS (wondering how many it took to screw the rest of us), his answer kind of startled me, he said "oh i'd say as an estimate about 10% of them", believe me by the time they leave, they know what kind of a group IRS truly is!

  17. incompetence and ill will have no color. sociopathy has no color. power has no color.

    please consider this: as long as we tear each other apart for what is essentially a non reason, who benefits from that action?

  18. yep. about 1/10. but consider this, how bad could it be if they ever got competent. that is the last thing we want.