The Straight Dope: Who owns the Federal Reserve?

[zaphod2016]

This doesn't really belong in "Conspiracy Theories", but I found a good, short article on the Fed from an author who is very talented at breaking complex subjects down to layman's terms.

Who owns the Federal Reserve? (http://www.straightdope.com/columns/read/1214/who-owns-the-federal-reserve)

Bob Kahn in Chicago asks:

I'm a 9 to 5 fixed income kinda guy who cares about his family, nation, and world. I overheard some of my levelheaded millionaire bosses talking about how the Federal Reserve is a private institution owned by individual banks. Isn't our bank our bank? Please tell me this is not happening to my country.

The author argues that the Fed, although ominous, is a good thing. He defends this position by saying:

I don't mean to exaggerate the Fed's independence. Alan Greenspan** is called upon to testify before Congress periodically, and the system he heads would not long survive if it led the nation over a cliff.

ORLY? Seems to me they led the nation over a cliff, and then got a $1T bonus (or if you prefer, ransom).

** The article was written before Ben Bernanke

[CurtC]

ORLY? Seems to me they led the nation over a cliff, and then got a $1T bonus (or if you prefer, ransom).

You think Greenspan led the nation over a cliff? His policies were indirectly attributable, but only because he kept interest rates low, and this caused institutional investors to be more desperate in their search for higher returns, to the point of not making prudent evaluations of risk. I can't lay the blame for that on the Fed, it's with the investors who didn't exercise proper oversight.

[TriskettheKid]

Wait wait wait.....

How did "they" lead the nation over a cliff?

And just who is "they" and how did "they" get a $1trillion bonus?

As CurtC pointed out, what happened is an indirect result of low interest rates, coupled with overeager institutional investors, as well as people who tried to afford something they couldn't afford.

[Thunder]

Greenspan MUST be responsible. He is a Jew.

[Tin Foil Timothy]

Complaining about the Fed is a red herring. It doesn't matter who owns it really ( well a little bit ). Rather it's the whole system that's wrong.

[zaphod2016]

From today's Bloomberg-

Fed Defies Transparency Aim in Refusal to Disclose (http://www.bloomberg.com/apps/news?pid=20601087&sid=aatlky_cH.tY&refer=worldwide)

The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

I stand corrected. "Bonus" is not the right term. Nor is "ransom". Clearly, we are victims of a good ole' fashioned looting.

But I'm too late- you caught me. I'm not upset because trillions of dollars have been stolen from us "for our own good", nope, I just hate the Jews.

Had a clan of albino Aryans done the looting, I would be fine with it.

/sarcasm

BONUS: I just realized Bloomberg is a Jew. So, wait a sec- I'm using a "Jew" source to complain about the Fed, which happens to be headed by another Jew (Bernanke). So clearly, at least for this glorious post, any charges of anti-semitism should neutralize each other.

Are you saying Bloomberg is wrong? Clearly (ahem) you hate the Jooos!

[Tin Foil Timothy]

From today's Bloomberg-

Fed Defies Transparency Aim in Refusal to Disclose (http://www.bloomberg.com/apps/news?pid=20601087&sid=aatlky_cH.tY&refer=worldwide)



I stand corrected. "Bonus" is not the right term. Nor is "ransom". Clearly, we are victims of a good ole' fashioned looting.

But I'm too late- you caught me. I'm not upset because trillions of dollars have been stolen from us "for our own good", nope, I just hate the Jews.

Had a clan of albino Aryans done the looting, I would be fine with it.

/sarcasm

BONUS: I just realized Bloomberg is a Jew. So, wait a sec- I'm using a "Jew" source to complain about the Fed, which happens to be headed by another Jew (Bernanke). So clearly, at least for this glorious post, any charges of anti-semitism should neutralize each other.

Are you saying Bloomberg is wrong? Clearly (ahem) you hate the Jooos!

According to that article everyone who doesn't want transparency is calling for transparency.

It's a bit like Condoleeza Rice and Tony Blair claiming they are working for peace in the Middle East and wanting a two state solution, while working towards stalling such.