FDIC Head Favors Interagency Panel to Oversee Systemic Risk

April 24, 2009

  • April 24, 2009 at 3:03 am
    matt says:
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    “…a single entity to monitor risk in the financial system and want the Federal Reserve to assume those responsibilities.”

    Am I the only person here that thinks the Federal Reserve *IS* the systemic risk?

    Is there a reason that, statutorily, Congress cannot audit the federal reserve?

    Is there a reason that Congress bequeathed it’s right to control the money supply to a private entity?

    Section 8 of the Constitution is titled

    It doesn’t mention anything about “Powers of a Private Central Bank”

    Do we really need “Helicopter Ben” as Regulator In Chief?

    Why not just reinstate the Glass-Steagall Act of 1933 — seems like that worked pretty well until we decided to throw history’s examples out the window in favor of speculative bubbles.

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