Steve_A
11-11-2009, 08:07 PM
Hi Everybody,
In another thread I wrote about how politicians always have underlying reasons as to why they do things. So now we come to the FED and the FDIC. It is being suggested to take the overseeing power from these two entities and hand it to a sort of bank tzar. Why? Centralize the power? Could be. Reduce government? Maybe. How about to get the two off the hook? Probably.
You see if the two are no longer responsible for the banks and how they run and finance themselves, they probably will NEVER be audited. If the FED is relaxing its' ties with the Government, it just becomes another private bank, that could even slip away in the night. The FDIC could just be closed down simply because it was just another government department and nobody will ever know that there is no more money in the kitty.
If Barney Frank is in favor of this latest move, you know that there's something fishy going on.
Best regards,
Steve
In another thread I wrote about how politicians always have underlying reasons as to why they do things. So now we come to the FED and the FDIC. It is being suggested to take the overseeing power from these two entities and hand it to a sort of bank tzar. Why? Centralize the power? Could be. Reduce government? Maybe. How about to get the two off the hook? Probably.
You see if the two are no longer responsible for the banks and how they run and finance themselves, they probably will NEVER be audited. If the FED is relaxing its' ties with the Government, it just becomes another private bank, that could even slip away in the night. The FDIC could just be closed down simply because it was just another government department and nobody will ever know that there is no more money in the kitty.
If Barney Frank is in favor of this latest move, you know that there's something fishy going on.
Best regards,
Steve