Disappointed with Media
I'm disappointed in reading Martin Crutsinger's AP article this morning AP Inaccurate Reporting referring to the Federal Reserve as a Government Agency.
"The proposal the administration was considering would centralize the enforcement of laws that protect consumers of financial products, such as credit cards, mortgages and mutual funds. That effort currently is spread across a number of federal and state agencies, including the Federal Reserve, the SEC and the Federal Trade Commission. "
Such inaccurate reporting perpetuates the myth that the Federal Reserve is working in our best interest when in fact, it is just a group of bankers. We have already seen that the amount of greed in the banking system is only limited by the amount of wealth in the universe. It really taints my belief that President Obama is really serious about resolving the economic calamities that the economy has faced in the past. Bubble after bubble has been the result of monetary policy imposed by the Fed. Putting the Fed in charge of everything will surely put an end to the capitalist system as we know it.
Who's Looking Out for You?
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