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AP News Analysis: Fed under fire as public anger mounts
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Absolutely corrupt, wrong, "crazy" or whatever adjectives you want to call it!
The Fed seems to be accountable to no one, but it is in charge of regulating our economy? Attempting to regulate the economy by controlling interest rates alone is like trying to control the direction of a cruise ship with a broken rudder, it isn't going to work!
The free market should be left alone, supply and demand sets the prices in the marketplace of it's own accord if not tampered with. The concept of the free market does not mean there are no regulations whatsoever---but it does mean the consumer remains free to choose what is best; LIBERTY!
The Fed should be abolished. If anything, it is the Federal Reserve that needs to be regulated. If aid had been give to struggling mortgage holders rather than failing banks, this recession would probably be over by now.
Go figure!
I checked. Before the federal reverse, America had a deep recession every ten years. It was the depression of the 1890's that J. P. Morgan had to get banks to loan our government money.
Until years of republican deregulation that ruined our economy things have been much better than they where prior to the fed.
The real economic solution would be to get rid of conservatives and keep the fed.
Deregulation did NOT cause thr problems.
IT was the federal government FORCING banks and other lending institutions to give out bad loans.
NO "deregulated" bank would give out bad loans by choice, it is simply bad for business.
Before we blame the conservatives for deregulation woes, let's ask Barney Franks and his buddies about why Freddie Mac and Fanie Mae were not regulated when the democrats in congress voted down a republican request to have them investigated.
I think there is plenty of blame to go around if blame is what we want. Why not stop blaming each other and work together to solve our problems.
to Frank: Democrats deserve a lot of blame for lax regulation of the financil markets too. I have a feeling that President Gore would have handled the banks pretty much the same way President Bush did. By letting them do whatever they wanted.
Frank during Bush Georgia tried to regulation subprime loans only to be hold by the Bush White House that this was not a matter for states. It was a federal matter.
It is very important to elect Representatives who understand their very important responsibilities to We The People!
But never to the extent that came from after The illegal Fed reserve act of 1913.
End the fed and DEMAND a government that fits inside the constitution.
The best thing to do is force our politicians to balance a budget within resonable timeframes and definetly when gdp is growing.
And push for campain fincance reform, a lot of things will be fixed just from that.