Gary Edwards's Library tagged federal-reserve →  View Popular

By Mark McHugh

The pending reappointment of Ben Bernanke as chairman of the Federal Reserve is the non-story of the Century, and I find this terrifying.  Propaganda of his alleged “success” has been crammed in every orifice of the American people by the rich and shameless (yet relatively few believe it).   This is truly the time for action, unless you really enjoy Tea-partying ’til you puke.  I’m asking every American to demand that their Senators stand up and oppose the nomination.  Our future depends on it.  

Contact your Senator

Sign Bernie Sanders' Petition To Prevent Bernanke's Reappointment >>

dailybail.com/...-for-action-sample-senate.html - Preview

financial-crisis financial-oligarchs obammunism Federal-reserve bernanke

In depth story about the Federal Reserve failure to act as an unregulated subprime mortgage industry raced out of control, and major banking and financial institutions bought into the wild wild west of high interest rate - predatory lending.

excerpt:  during the years of the housing boom, pleas from consumer advocate groups failed to move the Fed, the sole federal regulator with authority over subprime mortgage businesses. Under a policy quietly formalized in 1998, the Fed refused to police lenders' compliance with federal laws protecting borrowers, despite repeated urging by consumer advocates across the country and even by other government agencies.

The hands-off policy, which the Fed reversed earlier this month, created a double standard. Banks and their subprime affiliates made loans under the same laws, but only the banks faced regular federal scrutiny. Under the policy, the Fed did not even investigate consumer complaints against the affiliates.

www.washingtonpost.com/...AR2009092602706.html - Preview

financial-crisis subprime federal-reserve

The financial crisis has propelled the Federal Reserve into an excruciating political dilemma. The Fed is at the zenith of its influence, using its extraordinary powers to rescue the economy. Yet the extreme irregularity of its behavior is producing a legitimacy crisis for the central bank. The remote technocrats at the Fed who decide money and credit policy for the nation are deliberately opaque and little understood by most Americans. For the first time in generations, they are now threatened with popular rebellion.
Share this article


RELATED
ALSO BY
Obama's False Reform ECONOMIC POLICY
WILLIAM GREIDER: Congress should step up its investigations of the roots of the financial crisis and slow down the rush to weak solutions--especially the empowerment of the Federal Reserve.
Bucking the Banks ECONOMIC POLICY
CHRISTOPHER HAYES: How can we expect the experts to reform the financial system when it's experts who got us into this mess to begin with?
» More
During the past year, the Fed has flooded the streets with money--distributing trillions of dollars to banks, financial markets and commercial interests--in an attempt to revive the credit system and get the economy growing again. As a result, the awesome authority of this cloistered institution is visible to many ordinary Americans for the first time. People and politicians are shocked and confused, and also angered, by what they see. They are beginning to ask some hard questions for which Federal Reserve governors do not have satisfactory answers.
Where did the central bank get all the money it is handing out? Basically, the Fed printed it, out of thin air. That is what central banks do. Who told the Fed governors they could do this? Nobody, really--not Congress or the president. The Federal Reserve Board, alone among government agencies, does not submit its budgets to Congress for authorization and appropriation. It raises its own money, sets its own priorities.

www.thenation.com/...greider - Preview

federal-reserve

Incredible video, a must see even though it's an hour long! If you want to understand how we got to into this financial-crisis, and our options for getting out, this is a must listen too speech. John Allison—the longest-tenured CEO of a top-25 financial services company "BB&T"—argues that this crisis is a legacy of the government’s anti-capitalist policies.

Mr. Allison uses his unique inside view of the financial services industry to show how massive government intervention into the U.S. economy—from the creation of the Federal Reserve in 1913 to a reckless crusade to encourage home-ownership—laid the groundwork for an unsustainable real estate boom. And he shows how the government’s response to the inevitable bust—a frenzied series of bailouts, nationalizations, and “stimulus” efforts—is only making things worse.

Finally, Mr. Allison explains the underlying philosophical reasons for the crisis, and discusses the immediate and long-term solutions. He shows that capitalism, far from being the cause of today’s crisis, is its only cure.

This is an incredible historical study and commentary provided by the Ayn Rand Institute

www.aynrand.org/...PageServer - Preview

financial-crisis financial-solutions obama-socialism socialist-scourge john-allison ayn-rand federal-reserve