Fed's seek further control...

[mookiemookie]

Originally Posted by Snestorm

It's very interesting, in where the power will lie.
The Federal Reserve is no more a part of your federal government than Federal Express.

Putting the Consumer Protection Agency under the purview of the Fed was a mistake in my opinion. The Fed was completely negligent in their oversight during the runup of the credit bubble. Their malfeasence was one of the main causes of the crisis.

But your statement is wrong. The CEO of FedEx isn't appointed by the President, Federal Express doesn't give testimony to congress, FedEx isn't audited by the GAO and FedEx doesn't rebate its interest earned back to the Treasury. Unlike the Federal Reserve.