Could person with Cedar Rapids roots play role opening at the New York Fed?

The Friday, December 5, 2008 edition of The Wall Street Journal in the Opinion section features an article titled Opening at the Fed. For more on the Federal Reserve, read Institute Brief: The Mythology of Fed Control of the Economy.

The WSJ article mentions a person with roots from Cedar Rapids...

Better choices would include current Fed Governor Kevin Warsh, who was
early in identifying the problems at Fannie Mae and also warned about the credit
mania; John
Lipsky, a former Wall Streeter who is now chief economist at the
IMF; David Malpass, an economist who worked at the Reagan Treasury and long
predicted the credit bubble; or one of the non-New York regional Fed presidents,
such as Gary Stern of Minneapolis or Dallas's Richard Fisher, who had first-hand
experience with the dollar crisis of the 1970s and dissented from the policy
that created the 2007-2008 Bernanke oil and commodity
spike.

Whoever is picked will need to work closely with the
Obama Treasury but should also bring an independent point of view. At this
watershed moment for world financial markets, the New York Fed needs more than a
monetary technician. It needs a policy heavyweight with some guts.

If memory serves me correct, John Lipsky is the son of Abbott and Joan Lipsky of Cedar Rapids, Iowa. John's father, Abbott, passed away in May 2008.

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