US to propose sweeping new powers for Fed: report

US to propose sweeping new powers for Fed: report

afp.google.com

Citing a summary of the plan provided by the administration, The New York Times reported Saturday the Fed will gain the power to investigate any activities of financial institutions that threaten US economic stability, gather information and combat risks to the financial system as a whole.

(visit the link for the full news article)


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"Any activities of financial institutions that threaten US economic stability"? Guilty until proven innocent? Would this have helped prevent Enron? Not likely.

If only they would do the OPPOSITE of what they think they should do. More regulations and more oversight won't help our economy, instead, it's turning it into a financial police state.

1984 here we are!

afp.google.com
(visit the link for the full news article)

reply to post by Angry Danish


Financial police state is about right, Angry-the powers that be already
check on people enough, now the money too? Glad i'm not wealthy...
sort of!

Theres at least 4 current threads in Breaking news on this . At least 2 on page one. Just a heads up if this gets closed.

www.abovetopsecret.com...

www.abovetopsecret.com...



[edit on 29-3-2008 by oLDWoRLDDiSoRDeR]

Thread closed.

See above.


-khunmoon-
mod&member