Unbelievable! The Federal Reserve and "regulations"

Discussion in 'Politics' started by eflatminor, Jul 19, 2012.

  1. eflatminor
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    eflatminor Classical Liberal

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    Sure the Federal Reserve can use taxpayer dollars to bail out their member banks when they make bad investment decisions. Sure the Fed can manipulate interest rates that lead to boom-bust cycles. Of course, the Fed can levy the most regressive tax of all over time, non-market determined inflation. And yes, the Fed has the power to be the ATM for Congressmen and their pet projects, from domestic welfare programs to undeclared wars.

    But if the Fed's member banks cook their own books? Oh, that's not the Fed's job to oversee that!

    Unfrickenbelievable!!!

    ‘It’s not my Job! I Don’t Regulate That!’ Santelli Takes on Ben Bernanke & the LIBOR Scandal | Video | TheBlaze.com

    Yea, more regulations...THAT'S the answer...:eusa_hand:
     
  2. kiwiman127
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    kiwiman127 Comfortably Moderate Supporting Member

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    In the 1990s Canada laid more regulations on their banks and it helped Canada escape basically a world recession pretty much unscathed. While in the US some folks want less regulating of banks despite all the woes the banks left on the backs of homeowners and taxpayers. Makes sense to me.
     
  3. eflatminor
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    eflatminor Classical Liberal

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    This is your response to the Federal Reserve knowing their member banks cooked the books and doing nothing about it. Brilliant, just brilliant...:eusa_eh:
     
  4. occupied
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    occupied Gold Member

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    The LIBOR scandal is just getting going good, Wall Street is already eating it's own face over this, just shows what a little peek into the manipulation machine can do.
     
  5. kiwiman127
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    kiwiman127 Comfortably Moderate Supporting Member

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    No, my response was to your comment; "Yea, more regulations...THAT'S the answer,,,:eusa_hand:"
    Pretty brilliant, don't you think?
     
  6. eflatminor
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    eflatminor Classical Liberal

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    No, just another non sequiter. Stick to the point at hand, if you can.
     
  7. kiwiman127
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    kiwiman127 Comfortably Moderate Supporting Member

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    Being as you included the last sentence in your OP, it is part of "the point at hand".
     

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