The Fed Almighty...

[bkveen3]

Giving the FED more regulatory power? Haha, Sure.... cause letting banks regulate themselves is gonna work.

I promise I wont cheat on this test sir, just stand outside the door.

 

[Moc Yeah]

Quote from fundjunkie:

So if there is no credible alternative to the Fed then surely Obama and his team have made the right move?

Helicopter level oversight and enforcement with a big stick is clearly needed. Where I think they have missed a trick is by not harmonizing the various relatory bodies similarly to what was done in the UK with the creation of the FSA. Were that to happen then a non-Fed body might be the best way forward. As things stand, i think it's ok.

That said, the regulators in the UK dropped the ball just like everyone else did. But I don't see that as commenting on the merit of the regulatory structure per se.


Thx
D

Actually found a little bit of supporting documentation that gives me little confidence to the inmates running the asylum.

So allow me to retort.

A quote from Helicopter Ben less than 2 years ago. Maybe he's been ObamabrainWashed...

October 15th, 2007 – Bernanke: "It is not the responsibility of the Federal Reserve - nor would it be appropriate - to protect lenders and investors from the consequences of their financial decisions."

I am glad the Fed stayed away from this mess. lol