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gam197
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Trying to understand this post. Congress has the power to coin money and so they want Congress to take back control of the Federal Reserve.
Many things have brought about this change. Taking the gold standard away was one but then Nixon ok’s the making of more paper money to pay bills so there is as awful lot to this.
They would need a room full of the best economic majors and they could probably not agree on how to straighten this out. It is a mess but I can’t see this being straightened out anytime soon.
Many things have brought about this change. Taking the gold standard away was one but then Nixon ok’s the making of more paper money to pay bills so there is as awful lot to this.
They would need a room full of the best economic majors and they could probably not agree on how to straighten this out. It is a mess but I can’t see this being straightened out anytime soon.
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peregrinus_WA
Guest
I believe this is not new.
If anything, it should go under, Social Justice or the Back Fence
If anything, it should go under, Social Justice or the Back Fence
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hildegaard
Guest
Look, the only way to solve this problem is for Congress to fully nationalize the Fed. It is the Fed that supported the investment banks, and even encouraged them, in leveraging massive derivatives contracts that are now unraveling. The whole subprime crisis was created BY the investment banks who screamed louder and louder for more paper (mortgages). It was an open secret that they would take anything they could get. Just securitze it, and they will stick it in their sivs, cdos, etc (which then get AAA ratings from the monoline insurers). “Liars loans” were no secret.Trying to understand this post. Congress has the power to coin money and so they want Congress to take back control of the Federal Reserve.
Many things have brought about this change. Taking the gold standard away was one but then Nixon ok’s the making of more paper money to pay bills so there is as awful lot to this.
They would need a room full of the best economic majors and they could probably not agree on how to straighten this out. It is a mess but I can’t see this being straightened out anytime soon.
We the taxpayer are going to pick up the bill regardless of what the investment bankers do. It is in our interest to renationionalize the fed (i.e., put directly under congressional control). At least we will have some say in the process. As it stands we sit around like dumb oxes until it collapses, then open our wallet and pay for it! ENOUGH!
Please check out www.TakeBackTheFed.com
For more info. on what is happening, check out www.siv0.com
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hildegaard
Guest
Social Justice, maybe.I believe this is not new.
If anything, it should go under, Social Justice or the Back Fence
Back Fence? Give me a break. Many view the recent Fed actions as the federal government nationalizing the banks. This is pretty far from the back fence.
This is actually news.
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hildegaard
Guest
THE END IS NIGH
**Federal Reserve staff move into offices of investment banks to monitor activities **
Tom Bawden and Dearbail Jordan
April 4, 2008
Times Online
The US Federal Reserve has sent staff into some of Wall Street’s biggest firms and its New York branch is gathering evidence on key traders’ activities as America’s central bank raises its scrutiny of risk to an unprecedented level.
Fed staff have set up shop in Goldman Sachs, Morgan Stanley, Lehman Brothers, Merrill Lynch, and Bear Stearns to monitor their financial condition just days after Henry Paulson, the US Treasury Secretary, proposed that the Fed become the financial industry’s “risk czar”.
This is the first time in more than a decade that the Fed has put staff in securities firms and is a response, in part, to its decision to extend to investment banks the “discount window” of cheap loans traditionally offered only to the commercial banks. The Fed argues that if it is to act as lender of last resort to the securities firms, it should keep a closer eye on their activities.
…
**Federal Reserve staff move into offices of investment banks to monitor activities **
Tom Bawden and Dearbail Jordan
April 4, 2008
Times Online
The US Federal Reserve has sent staff into some of Wall Street’s biggest firms and its New York branch is gathering evidence on key traders’ activities as America’s central bank raises its scrutiny of risk to an unprecedented level.
Fed staff have set up shop in Goldman Sachs, Morgan Stanley, Lehman Brothers, Merrill Lynch, and Bear Stearns to monitor their financial condition just days after Henry Paulson, the US Treasury Secretary, proposed that the Fed become the financial industry’s “risk czar”.
This is the first time in more than a decade that the Fed has put staff in securities firms and is a response, in part, to its decision to extend to investment banks the “discount window” of cheap loans traditionally offered only to the commercial banks. The Fed argues that if it is to act as lender of last resort to the securities firms, it should keep a closer eye on their activities.
…
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hildegaard
Guest
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mdzialo
Guest
Congress is bought and sold and will not retake the Fed, fix the broken borders, stop the never ending war, win any war on drugs, end abortion, pay off the debt…
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hildegaard
Guest
May be true, but if a true financial collapse starts, things could change overnight.Congress is bought and sold and will not retake the Fed, fix the broken borders, stop the never ending war, win any war on drugs, end abortion, pay off the debt…
See www.siv0.com
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Yerusalyim
Guest
OK, who thinks it’s a good idea to put the Federal Reserve Banks into the hands of Congress so that the decisions of Americas central banks are politically tainted by this reliable groups of individuals? Anyone? Anyone?
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hildegaard
Guest
We’re about to go bust because of a bubble inflated while the Fed stood by and encouraged it.OK, who thinks it’s a good idea to put the Federal Reserve Banks into the hands of Congress so that the decisions of Americas central banks are politically tainted by this reliable groups of individuals? Anyone? Anyone?
The Consitution calls for Congress to create a currency and maintain a system of credits. They delegated the authority to the Fed, but let us (taxpayers) keep the resonsibility. I go with taknig it back.
What’s your plan?
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Robert_Bay
Guest
Thread Closed
Thank you for all who participated
Thank you for all who participated
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