Former Federal Reserve head Herman Cain suspends Presidential Campaign

Herman Cain, former head of the Kansas City Federal Reserve, whose candidacy has been wrapped up in allegations of sexual ompropriety, said yesterday that he is suspending his campaign for the Republican presidential nomination, saying that the allegations have cast a "cloud of doubt over me and this campaign."

“As of today, with a lot of prayer and soul searching, I am suspending my presidential campaign,” Cain stated at his Atlanta confrence. “I am suspending my presidential campaign because of the continued distraction, the continued hurt . . . on me, on my family, not because we are not fighters, not because I am not a fighter.”

Cain's whole campaign had sent mixed signs as to his future due to the allegations by Ginger White, and Atlanta resident who has claimed to have had an affair with Cain for over a decade, who went public with her story earlier on this week. Although Cain has stated he's been "reassessing" his candidacy, he has also, at times, been very defiant, suggesting that unnamed enemies have been attempting to do him in and pledging to press forward.

Cain dropping out of the Republican presidential race is, in this man's eyes, a positive step to getting a Republican candidate that doesn't have the Fed background into office in the U.S. A man who claims that he plans on lowering taxes, working on the economy, and having been a head of a Federal Reserve branch, possibly the second or third biggest in the nation, sounds like nothing but a pipe dream.

We have steadily witnessed, in recent years, former members of the Fed, as well as other prominent banking firms , placed in positions of extensive power in the United States and around the world. And we have, in those same recent years, seen the economies, both near home and globally, being constantly imploded. Therefore, one can only feel a sense of positivity while hearing the news of Herman Cain backing out of the presidential bid.