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To: Sleeping Freeper

“New regulatory controls” always scare me. Could someone explain to me just how much the Federal Reserve is a government agency, and how much it is a private company? Because I especially don’t like a private company being in charge of regulation.


29 posted on 07/13/2008 4:50:33 PM PDT by kc8ukw
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To: kc8ukw
Since all its profits every year go to the US treasury, and its board is appointed by the president and confirmed by the senate, I'd say it is to all intents and purposes a government agency. Nominally it is a whole conglomerate and the US treasury is its controlling owner, but that is a relic of how it was created, and its only practical consequence is that nationally chartered banks have contractual access to the discount window (ability to borrow) - but at rates and terms set by the Fed, up to limits it sets, subject to its regulatory approval, etc
47 posted on 07/13/2008 6:05:09 PM PDT by JasonC
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To: kc8ukw

The Federal Reserve is not a government agency.


55 posted on 07/13/2008 6:15:45 PM PDT by FReepapalooza (Joshua 3:4 ..."for ye have not passed this way heretofore.")
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To: kc8ukw
The Federal Reserve is an unconstitutional entity that is the manipulator of the currency and the banking system.

This from Wikipedia:

The Federal Reserve System (also the Federal Reserve; informally The Fed) is the central banking system of the United States. Created in 1913 by the enactment of the Federal Reserve Act, it is a quasi-public (government entity with private components) banking system[1] composed of (1) the presidentially appointed Board of Governors of the Federal Reserve System in Washington, D.C.; (2) the Federal Open Market Committee; (3) 12 regional Federal Reserve Banks located in major cities throughout the nation acting as fiscal agents for the U.S. Treasury, each with its own nine-member board of directors; (4) numerous private U.S. member banks, which subscribe to required amounts of non-transferable stock in their regional Federal Reserve Banks; and (5) various advisory councils. As of 2008, Ben Bernanke serves as the Chairman of the Board of Governors of the Federal Reserve System.

90 posted on 07/13/2008 7:13:00 PM PDT by TheBattman (Vote your conscience, or don't complain about RINOs!)
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