Banks are out of control, I think we can all agree on that. But should The Fed be given more power to regulate them?If not, what are the alternatives?
Not sure if the Fed should be given this duty. From everything that happened with the financial meltdown there is no doubt stronger regulation is needed. A lot of finance companies that were making the bad subprime loans, didn't fall under federal regulations. Then many of the state regulators never regulated these companies. Possibly a new federal agency over all banking. Some may feel that doing so would give the government to much power. We need to quit living in the red scare days.
No the Fed are the ones that haven't done their stated job but instead rip us off. The Fed should be abolished. The treasury can regulate banks.
Are you brain-dead? The Federal Reserve was illegally established, in 1913, by corrupt legislators in sufficient numbers to sneak the legislation through just hours before Christmas when the honest legislators who would have blocked it were home for the holidays (folks traveled by horse and buggy and trains back then). The details of that are not sufficiently important to this presentation to merit their lengthy disclosure here. Suffice it to say that it was a deliberate move designed to give the organization total control of the United States and its vast assets. In 1913, before the Senate Banking and Currency Committee, Mr. Alexander stated: But the whole scheme of a Federal Reserve Bank with its commercial-paper basis is an impractical, cumbersome machinery, is simply a cover, to find a way to secure the privilege of issuing money and to evade payment of as much tax upon circulation as possible, and then control the issue and maintain, instead of reduce, interest rates. It is a system that, if inaugurated, will prove to the advantage of the few and the detriment of the people of the United States. It will mean continued shortage of actual money and further extension of credits; for when there is a lack of real money people have to borrow credit to their cost. Federal Reserve notes are not redeemable in gold, silver or any other commodity, and receive no backing by anything. This has been the case since 1933. The notes have no value for themselves, but for what they will buy. In another sense, because they are legal tender, Federal Reserve notes are backed by all the goods and services in the economy.” Instead of the Constitutional method of creating our money and putting it into circulation, we now have an entirely unconstitutional system. This has resulted in almost disastrous conditions, as we all can see.
End the Fed, End corporate money to Congress. Congress and the Treasury should regulate Banking.
they should have no power whatsoever. the fed is the worst thing that the government has created.
