Obama wants Fed to be finance supercop

Obama wants Fed to be finance supercop

news.yahoo.com

WASHINGTON – The White House told industry officials on Friday that it is leaning toward recommending that the Federal Reserve become the supercop for "too big to fail" companies capable of causing another financial meltdown.

According to officials who attended a private one-hour meeting between President Barack Obama's economic advisers and representatives from about a dozen banks, hedge funds and other financial groups, the administration made it clear it was not inclined to divide the job among various regulators as has been suggested by industry and some federal regulators.

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[edit on 5/9/2009 by semperfortis]

"The idea of having a council of regulators was pretty much vetoed," said one participant.

Treasury Secretary Timothy Geithner, who briefly attended the meeting but did not identify the Fed specifically as his top choice, told the group that one organization needs to be held responsible for monitoring systemwide risk. He said such a regulator should be given better visibility into all institutions that pose a risk to the financial system, regardless of what business they are in.

news.yahoo.com
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[edit on 5/9/2009 by semperfortis]

reply to post by Donnie Darko


Since the Federal Reserve is a private company, is Obama suggesting that it be nationalized to fulfill this role of "supercop" ?

Oh my god...They're going to hand over the private finance sector straight over to the Federal Reserve...This has to be stopped. This cannot be allowed to happen. To have a secret organization like the Federal Reserve, whose activities have never been audited, run a financial sector that has remained unsupervised for 4 decades cannot lead anywhere but total disaster.

I don't like this. I don't like this at all.

It's the day after Legatus.

I think this video just about sums up the current state of affairs and presents a case for NOT having the Federal Reserve as the financial sector regulator.

www.huffingtonpost.com...

Talk about clueless.... she'll go far!

And the Bilderberg agenda GOES forward! How big a surprise is this? It's not. We knew whoever was going to be president would have pushed that... it was some of the information leaked in June 08... Giving all powers to the FED after a generated crisis... guess what happened? Exactly that.

reply to post by Donnie Darko




in several threads leading up to the G-20 meeting where all this began,
I reported that the EU and other influential others were proposing a
Global Supervisory Group

the USAs 'Powers' are in a battle, where in the past the USA agenda would have a rubber-stamped approval.
but in any event, there will be a 'supervisory' agency or group of diverse
regulators to dictate just 'Whom' will be saved and Who will be left to bankruptcy/acquisition/the financial trash heap.


~ It all ammounts to Central Planning, none the less ~

What's the point of having a cop if there's no penalty for the criminals? In fact they get rewarded with huge amounts of bailout money for being nothing but white collar thugs.

I don't take Obama or congress serious if they don't alter the FED's status or autonomy, this seems to make it only worse..But people seem to swallow everything after the engineered financial collapse, another victory for the Chicago [Friedman] school..

Originally posted by PsykoOps
What's the point of having a cop if there's no penalty for the criminals?

There's really nothing else to be said after this

Originally posted by Britguy
I think this video just about sums up the current state of affairs and presents a case for NOT having the Federal Reserve as the financial sector regulator.

www.huffingtonpost.com...

Talk about clueless.... she'll go far!

She is not clueless, as you can clearly see she has a number of people behind her coaching.. what this boils down to folks is that the Federal Reserve is nothing more than a white collar criminal syndicate, answerable to NO ONE!!! until America wakes up and kicks these scumbags off the continent we will never be anything more than slaves. One other thing why must the Federal government pay interest on the money it borrows from the fed?? when the Fed itself does not pay 1 red cent of taxes on the money it makes as official "Leach of America" This in itself should betray the true criminality of that organisation.


Sailor

[edit on 9-5-2009 by Sailor1]

the thread title disappointed me greatly....i thought obama was pushing for a real life robocop or sometihng...

This begs the question , what will the Fed become ?

If it is in fact given more powers just where will it end ?

Could we see the Fed join other national banks of the world to create a world bank of sorts , incorporating the I.M.F and the current world bank ?


[edit on 10-5-2009 by Max_TO]

reply to post by rangersdad


I just had a thought, since Mr Paul is having a hard time getting the Federal Reserve audited, why not nationalize and create an oversight committee to evaluate and audit all of its work??? Including but not limited to punishing them for when they screw up and cant give straight answers to congress.

Speaking of Secret Societies....

Rothschild Difference With Madoff Becomes Geneva’s Obsession