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The Federal Reserve takes over!!!!!
cnn.com — "The Federal Reserve would have the power to regulate virtually the entire banking and securities industry under proposals to be unveiled Monday by Treasury Secretary Henry Paulson, according to a summary of the proposals provided to CNN late Friday"
forku- 26 diggs
- digg it
- Dan2263165, on 03/29/2008, -0/+9Great... exactly the opposite of what should be done. The FED should be abolished!
- martinherrera, on 03/29/2008, -0/+3god damn it
- Poetheunclothed, on 03/29/2008, -0/+4Big brother needs more power! If Big brother had these powers a hundred years ago then none of us would ever be sad.
- NorthStateGonzo, on 03/29/2008, -0/+4RON PAUL FOR PRESIDENT 2008
- fauxmemoires, on 03/29/2008, -0/+1scary!
- caferrell, on 03/29/2008, -0/+3So lets take the non-gubermental organization of questionable legality that is owned by the banks and operates withoput any regulation or oversight by our elected government and put them in charge of regulating the banks.
Is this a joke? Is Dubya going to appear with Dana Perino on Monday chuckling while he tells us that he was only kidding?
This can't really be happenning - The Federal Reserve Bank, a non government organization that is wholly owned by the banks, will be in charge of regulating the banks, and when the regulation doesn't work and banks are in danger of insolvency then the Fed (owned by the banks) will just make more money, inflating everyone else's dollars, and bail out the banks.
This is welfare for the rich paid for by the poor. It is unconstitutional and unfair and we should absolutely not accept this piracy.
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