Posted on 06/18/2009 1:24:10 PM PDT by Kartographer
In addition to handling monetary policy, under the Obama plan the Fed would regulate "systemic risk" and try to prevent future financial crises, working in tandem with an inter-agency council.
"The Federal Reserve system was not designed to carry out the systemic risk oversight mission the administration proposes to give it," Senator Richard Shelby, the top Republican on the U.S. Senate Banking Committee, said at a hearing.
(Excerpt) Read more at news.yahoo.com ...
I wonder if these fools in the Congress realize the fate of America is in their hands???
Didnt Fannie and Freddie cause the majority of this in the first place. Lets see, Franklin Raines, Maxine Waters, Barney Franks, Chris Todd...I’m trying to remember what all they have in common...besides being crooks
I wonder if most Americans know that their fate is in the hands of the fools that they elected?
Lulz! WHo are all these people fooling?
“Systemic risk” is nothing but liberal lingo for “You never want a serious crisis to go to waste”......
I wonder if most Americans know that their fate is in the hands of the fools that they elected?
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Half of them do not. But we are seeing some slight rays of hope since Obama is not hiding what and who he is. His lying continues, but that is wearing thin as well.
Just change the “c” to a “k” and all is well in Amerika comrade!
Why give any one single private enterprise so much control over US economies?
Oh, right, I'm sure the 0 will want to nationalize it, along with everything else.
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