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Treasury Secretary says FED needs more(?) "oversight" powers
time.com — ...not oversight that would have prevented tax dollars from financing the Bear Stearns buyout, but more power to control the effects of the blowback propogated by it. [ ...Paulson said the U.S. Federal Reserve needs sweeping new powers to give it easier access to information on financial institutions, and to intervene to avert future crises...]
digitalhair- 66 diggs
- digg it
- MarkEarhart, on 07/03/2008, -0/+13The "Fed," just like the World Bank and IMF, should never have existed in the first place and all staffers and investors should live out the remainder of their days in prison in solitary confinement. The Constitution clearly states that it is the role of Congress to "coin money and regulate the value thereof." We don't need the Fed, nor do we need the other two equally evil extensions of the same elite few to exploit the rest of the world.
- Berkana, on 07/03/2008, -0/+9Ah, but we forget that one of the meanings of "oversight" means to forget or overlook something. Just what they need; more power to ***** things up.
- digitalhair, on 07/03/2008, -0/+3yes, I've picked up on how they use language subversively... kind of like this:
http://blog.indecision2008.com/2008/04/30/jon-stew ...
or how they call the recent bill that allows the Fed to tax all of your assets as if you sold them - should you decide to leave the country - the Heroes Act of 2008.
...so many more examples... - PolishLogic, on 07/03/2008, -1/+1Is that anything like Congress being the opposite of progress?
(that old gag)
- digitalhair, on 07/03/2008, -0/+3yes, I've picked up on how they use language subversively... kind of like this:
- flavioribeiro, on 07/03/2008, -0/+6It's trivial to see what's happening here.
JP Morgan's CEO is also on the board of the NY Fed. These regulatory powers would allow him to have access to the trading positions and capital requirements of all his competitors. - StingingNettle, on 07/03/2008, -0/+7My guess is they want this power to be able to bail out investment firms more quickly and keep it more quite. Don't trust these guys for a second.
- Conspiracy20, on 07/03/2008, -0/+5Tired of it, the filthy swine!
- quesi, on 07/04/2008, -0/+2god it makes me ill... does no one read and learn from history?
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