Some times, the politics of economic decline are conducted out in the open, where we can see them. There's an
important ATS duscussion thread that you should know about.
It's being reported that the Bush administration wants to re-organize the Federal Reserve.
According to a summary provided by the administration, the plan would consolidate an alphabet soup of banking and securities regulators into a
powerful trio of overseers responsible for everything from banks and brokerage firms to hedge funds and private equity firms.
Source: New York Times
President Bush is due to give a speech about this consolidation on Monday, March 31st. He will praise this effort as a downsizing of government, and
an improvement to the institution. What you're actually going to see is an act of desperation, and a power grab of epic proportions.
This is another dangerous step in the wrong direction, that can't easily be undone once it is in effect. Democrats and Republoicans alike should be
ashamed of themselves for allowing this to go through. Once the Fed has non-transparant control of our national banking systems, they'll be in a
position to tinker with the country's cash flow in ways that will only bring us pain and misery.
There is more than just greed involved here. President Bush is willing to do anything and everything to prevent total economic collapse while he's
in office. I can hear the lie now. "I left office with the tools in place to combat this problem. Why didn't you guys do soemthing?"
The worst of it is that this under-reported maneuver will result in more
centralized power,
of the kind that I've been warning about.
