http://www.cnn.com/2008/US/03/28/fin...ght/index.html
Check it out. All I have to say is we dont need the fed to get any more power than it already has.
Miles
Plan Would Expand Fed's Power to Intervene in Financial Crisis
http://www.cnn.com/2008/US/03/28/fin...ght/index.html
Check it out. All I have to say is we dont need the fed to get any more power than it already has.
“Today, the general will of all nations is calling for fundamental change... The prerequisite to this change is a change in goals, intentions, and directions. If tyrannical goals are repackaged in an attractive and deceptive package and imposed on nations again, the people, awakened, will stand up against them.”
Iranian President Mahmoud Ahmadinejad
Truth is treason in the Empire of Lies.
Ron Paul
Mangod of Earth
Re: Plan Would Expand Fed's Power to Intervene in Financial Crisis
Please god no..
An unelected bureaucrat having all the power of a 10+ Trillion dollar economy. Screw that.
"For the humble doily is indeed the gateway to ULTIMATE COSMIC POWER!"
~Sidmen, Member of the House of Wilpuri, Patronized by pannonian
Praefectus
Re: Plan Would Expand Fed's Power to Intervene in Financial Crisis
No one likes the fed?
Let's see how you do without it...
Re: Plan Would Expand Fed's Power to Intervene in Financial Crisis
Originally Posted by Sidmen
The question may very well be who do you want safeguarding the economy in a situation like this, the fed, or the congress/president. Our elected officals in the latter tend to get elected through various means which may or may not include a backround in finance/economics where as members of the fed, well, finance/economics is there sole purpose in the government for the most part.
Although, I do whole heartily agree.. Big government =
أبوالمقاومة
Re: Plan Would Expand Fed's Power to Intervene in Financial Crisis
Because the status quo of little to no oversight had nothing to do with the current morgage crises?
"The ABC of our profession, is to avoid large abstract terms in order to try to discover behind them the only concrete realities, which are human beings."
- Marc Bloch
Under the Patronage of Lord Rahl
Dux Limitis
Re: Plan Would Expand Fed's Power to Intervene in Financial Crisis
exactly, next time, the Feds should know earlier when banks are lending out-quality subprime loans to people who can't afford them.
Have a question about China? Get your answer here.
Mangod of Earth
Re: Plan Would Expand Fed's Power to Intervene in Financial Crisis
What, you mean like many European countries? I'm sorry If I don't like an independent bank in charge of something expressly given to the government in our national framework.No one likes the fed?
Let's see how you do without it...
"For the humble doily is indeed the gateway to ULTIMATE COSMIC POWER!"
~Sidmen, Member of the House of Wilpuri, Patronized by pannonian
Praefectus
Re: Plan Would Expand Fed's Power to Intervene in Financial Crisis
So you want socialism as well?
Campidoctor
Re: Plan Would Expand Fed's Power to Intervene in Financial Crisis
Yes, please!
The Federal Reserve Bank is a corrupt body that has it's claws firmly embedded in the flesh of our American republic.
"An eye for an eye makes the whole world blind"
Mangod of Earth
Re: Plan Would Expand Fed's Power to Intervene in Financial Crisis
Random incorrect statements for the win! Europe =/= socialist.So you want socialism as well?
Is a question of accountability. The Fed is an independent bank with as many powers over the US economy as our elected government. I personally don't like corporations having the power to print and 'invent' money. Thats just stupid - and the cause of our staggering inflation over the past 20-30 years.The question may very well be who do you want safeguarding the economy in a situation like this, the fed, or the congress/president. Our elected officals in the latter tend to get elected through various means which may or may not include a backround in finance/economics where as members of the fed, well, finance/economics is there sole purpose in the government for the most part.
"For the humble doily is indeed the gateway to ULTIMATE COSMIC POWER!"
~Sidmen, Member of the House of Wilpuri, Patronized by pannonian
Dux Limitis
Re: Plan Would Expand Fed's Power to Intervene in Financial Crisis
actually the Fed works pretty closely together with the government.
1) the presidentially-appointed Board of Governors of the Federal Reserve System in Washington, D.C.; (2) the Federal Open Market Committee; (3) 12 regional Federal Reserve Banks located in major cities throughout the nation acting as fiscal agents for the U.S. Treasury, each with its own nine-member board of directors; (4) numerous private U.S. member banks, which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Banks; and (5) various advisory councils. Currently, Ben Bernanke serves as the Chairman of the Board of Governors of the Federal Reserve System.
they are a creature of the federal government..
Have a question about China? Get your answer here.
Re: Plan Would Expand Fed's Power to Intervene in Financial Crisis
Is a question of accountability. The Fed is an independent bank with as many powers over the US economy as our elected government. I personally don't like corporations having the power to print and 'invent' money. Thats just stupid - and the cause of our staggering inflation over the past 20-30 years.
Agreed. Although, in this case, whom do you consider more accountable? The Fed is in most ways directly accountable to the government, and on a regular basis. Your elected official whether it be the President or a member of Congress may not have to answer for his or her mistakes for years depending on the election cycle, outside of Impeachment of course.
Last edited by CDMan477; March 29, 2008 at 09:25 PM.
Miles
Re: Plan Would Expand Fed's Power to Intervene in Financial Crisis
The Fed is a product of the investment houses attempt to control Wild-Cat banking. The fed is the central stability in the monetary affairs of the nation and for those who trade with America through it's currency the dollar. The fed having more power; is a good idea if an over-sight body of elected officials with a clear interest in America ensures that policy is always for the bettering American of those interest around the world. If the Fed can ensure that anarchist and other Anti-American group interests do not, cannot gain the power to move the economy of shore or dis-mantle than fine.The trillion dollar economy of free markets is today subject to attacks of economic jihad. The Fed MUST stabilize the current crisis or WW III will surely follow. One of the first steps that should be taken is the rebuilding of American industry and infrastructures. Get americans back to work and forget globalization... period!
But I'm afraid as it is more power to the Fed will only mean more control to put america in harms way.
Dux Limitis
Re: Plan Would Expand Fed's Power to Intervene in Financial Crisis
HAHHAHA...i know...that will somehow make the budget deficit disappear
Have a question about China? Get your answer here.
Re: Plan Would Expand Fed's Power to Intervene in Financial Crisis
Ha, ha, and we have a winner. This pretty much hits the nail on the head right here. Who's to blame though? The lenders giving out the sub-primes, or the folks who know they can't afford a house and go for them anyway?exactly, next time, the Feds should know earlier when banks are lending out
WWW III, economic jihads? Forgive me if this sounds all a bit extreme. Oh, and "get Americans back to work"? You do realize that despite the disappointing economic data lately, unemployment is still well within the norm for the past two decades. Unless your claiming Americans have needed to "get back to work" since 1980. Then you may have a point not that this thread has much to do with unemployment anyway.
United States Unemployment data
http://www.nidataplus.com/lfeus1.htm
http://www.economagic.com/em-cgi/data.exe/feddal/ru
Civitate
Re: Plan Would Expand Fed's Power to Intervene in Financial Crisis
Both but the Fed only have the power (and right) to step into the middle of the actions of only one of those two and its not the "folks"
Re: Plan Would Expand Fed's Power to Intervene in Financial Crisis
Both but the Fed only have the power (and right) to step into the middle of the actions of only one of those two and its not the "folks"
Hmm, I have to disagree. Aren't these people just as culpable if not more so. If we can't trust people to make reasonable decisions based off their current financial situation, maybe Europe has it right. Perhaps we should let the government handle our money for us.
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