Monday, September 21, 2009

Fed Says No to Geitner

Fed Secrecy Continues

Citing that it would be a threat to the independence of the Federal Reserve, the bank rejected a request by the administration for a review of the bank's structure and governance. Who gets our money and what they do with it still remains shrouded in mystery.

With the Fed's ability to print money, buy US Debt and mortgage securities, it seems obvious that in time, those who run the Fed will own the country. Yet, despite this, the Obama adminstration wants to give the Fed more responsibility and be the lead regulator.

Regulators should be government entities, not private enterprises with no transparency.

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