Why not give the organization that is supposed to keep our economy stable, (through one great depression and 20 some recessions), the power to assess risk to the markets, and activities that are detrimental to the financial system? Sure, why not keep on the road of doing things in the most insane ways, like the government and the auto worker’s union owning the two biggest car companies in the country? Yes, let’s please give the banking cartel who creates the economic instability we are experience with their manipulation of interest rates, inflation, deflation, and issuance of M3 currency, the role of telling us when the markets and their handling of the financial system are causing instability.
Does anybody else see how there may be just a small conflict of interest here?
WASHINGTON (Reuters)—The U.S. Federal Reserve should oversee threats to the financial system, not a council of regulators, a group led by an economic adviser to the Bush administration said Tuesday.
Glenn Hubbard, former chairman of President George W. Bush’s Council of Economic Advisers, said an idea to create an inter-agency council of regulators would inevitably be inefficient, indecisive and compromising.
Mr. Hubbard now co-chairs the Committee on Capital Markets Regulation, an independent research organization.
WASHINGTON — The Obama administration is proposing that the Federal Reserve serve as an all-seeing regulator to detect activities that could pose risks that undermine the entire financial system.
The administration also is recommending two new agencies to protect consumers and investors.
The proposals are part of six regulatory overhaul recommendations that the administration is circulating among key lawmakers. Persons familiar with the plan say details still need to be hammered out. No announcement is expected from the administration until the week of June 8 at the earliest.
Treasury Secretary Timothy Geithner and other administration officials have discussed the regulatory proposals in the past. But the plan circulating on Capitol Hill indicated that the ideas are beginning to come together into a formal package for Congress to consider.
It just keeps coming like one big dump truck of manure being dumped on the American people. Karma is gonna be a b*tch when it comes back around.
Not a plan in sight but then what is new. Does this administration plan to do anything but fleece the American taxpayer.
laura on May 27, 2009 at 7:27 pm
The Fed is corrupt and the reason for all the trouble we are in right now. That’s like saying, when a thief comes to your house and steals your jewelry – hey, wait! Can he come back… cuz I want to give him the chance to steal the keys to the car, and our credit cards!
Kathy on May 28, 2009 at 12:56 am
Could this be in response to Ron Pauls bill to audit the Federal Reserve, I believe he has over 170 co-sponsors. I know there is the thinking that the audit would not really do anything, but I believe that the attention drawn to the Federal Reserve because of this audit is most likely making people in DC a little nervous.
The more people who know about what is really going on the more that will start to question and the fact that there is a bill to audit the system is making more people like into why.
If the administration makes the Federal Reserve a risk regulator they are sending a message to those on board with the audit bill that we will roll you over. I think Karma has already started to some extent, it seems just about every group that supported him or remained silent when they should of spoken up , are receiving pay back now, we just need to wait for the big one, and DT you are right that one will be of biblical proportions.
Hey, while we’re at it, why don’t we just allow convicts to pick judicial appointees and allow junkies to dictate drug laws?
At the current rate, I expect a bill to go before the House by July 4th implementing the complete handoff of all human civil and Constitutional rights to the Fed. And the sheeple will say, “why not?”
NoTingles on May 28, 2009 at 4:39 pm
“WASHINGTON — The Obama administration is proposing that the Federal Reserve serve as an all-seeing regulator to detect activities that could pose risks that undermine the entire financial system”
Indeed! I wouldn’t let these yo-yos work on my wheelbarrow let alone honestly manage our county’s financial system. And why should the crack-pot administration propose any such thing? Isn’t that which has been going on for the last hundred years? And in that time have they brought stability to our economy for any appreciable length of time? They are not idiots…they are not idiots- I have to keep telling meself that because it would be so easy to see this as purely stupid, and then miss the fact that evil plans are afoot!
“They are not idiots…they are not idiots- I have to keep telling meself that because it would be so easy to see this as purely stupid, and then miss the fact that evil plans are afoot!” Truer words have not been heard in a while NoTingles!
This should be a mantra to keep us focused on the evil in their hearts.
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Not a plan in sight but then what is new. Does this administration plan to do anything but fleece the American taxpayer.
The Fed is corrupt and the reason for all the trouble we are in right now. That’s like saying, when a thief comes to your house and steals your jewelry – hey, wait! Can he come back… cuz I want to give him the chance to steal the keys to the car, and our credit cards!
Could this be in response to Ron Pauls bill to audit the Federal Reserve, I believe he has over 170 co-sponsors. I know there is the thinking that the audit would not really do anything, but I believe that the attention drawn to the Federal Reserve because of this audit is most likely making people in DC a little nervous.
The more people who know about what is really going on the more that will start to question and the fact that there is a bill to audit the system is making more people like into why.
If the administration makes the Federal Reserve a risk regulator they are sending a message to those on board with the audit bill that we will roll you over. I think Karma has already started to some extent, it seems just about every group that supported him or remained silent when they should of spoken up , are receiving pay back now, we just need to wait for the big one, and DT you are right that one will be of biblical proportions.
Hey, while we’re at it, why don’t we just allow convicts to pick judicial appointees and allow junkies to dictate drug laws?
At the current rate, I expect a bill to go before the House by July 4th implementing the complete handoff of all human civil and Constitutional rights to the Fed. And the sheeple will say, “why not?”
“WASHINGTON — The Obama administration is proposing that the Federal Reserve serve as an all-seeing regulator to detect activities that could pose risks that undermine the entire financial system”
Indeed! I wouldn’t let these yo-yos work on my wheelbarrow let alone honestly manage our county’s financial system. And why should the crack-pot administration propose any such thing? Isn’t that which has been going on for the last hundred years? And in that time have they brought stability to our economy for any appreciable length of time? They are not idiots…they are not idiots- I have to keep telling meself that because it would be so easy to see this as purely stupid, and then miss the fact that evil plans are afoot!
“They are not idiots…they are not idiots- I have to keep telling meself that because it would be so easy to see this as purely stupid, and then miss the fact that evil plans are afoot!”
Truer words have not been heard in a while NoTingles!
This should be a mantra to keep us focused on the evil in their hearts.