Should Banking and the Federal Reserve System be Government Run?
February 10th, 2010 | 
Author: I am under the opinion that the Federal Reserve System and our Banking industry has gotten us into this huge financial mess we are in today.
I am also under the opinion that the Federal Reserve System as well as our Banking Industry needs to be under a much closer eye then they are today. In our Banking Industry, that can be a combination of private enterprise and far tighter government oversight and control. Our Federal Reserve System needs to be totally transparent and a public entity, instead of what it is now, a private one where not even our government knows who all the players are, or what really goes on behind their closed doors.
Your input please.
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Actually, when politics and huge private enterprise bucks is taken out of government control it does a pretty good job. The National Geological Survey, Weather Service, Postal Service, public land and park system, etc are good examples of how government should work.
Once government lets greed and power take over, then the corruption and impropriety comes into play.
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People have moved away from the wisdom of America’s founding fathers on the basis of false science. Dealing with a symptom isn’t going to "heal the patient".
Getting the completely unscientific and ridiculous theory of macro-evolution and other related nonsense out of the classroom would be a good start.
Posted in US banking system
excellent question.
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People have moved away from the wisdom of America’s founding fathers on the basis of false science. Dealing with a symptom isn’t going to "heal the patient".
Getting the completely unscientific and ridiculous theory of macro-evolution and other related nonsense out of the classroom would be a good start.
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I am not sure that the government has proven it’s ability to provide the oversight and control in an efficient and cost effective manner. The government’s track record isn’t that great.
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The federal govenment installed the Department of Energy in the early 1980’s. They have grown to 16,000+ full time employees and over 100,000 contract employees. And they have a budget of over $27,000,000,000 per year.
Their mandate was to lessen our need for imported oil. Have they made any progress?
Do you want our banking system to have the same lack of progress?
The should be regulated. Period.
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The Fedreal Reserve Bank, is PRIVATELY OWNED, ILLEGAL, CORRUPT, and a COMPLETE FRAUD !!! > > http://www.realjewnews.com/?p=177
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do you think an honest man needs to have a cop looking over his shoulder all the time?well now days its the quick buck and lack of morals and ethics that spawn those crooked people to lye cheat and steal,un fortinatly it looks like with the politicaly correctness cread as the ruling factors to day ,honesty and ethics are long gone,there have been people chipping away any thing that promotes honesty and truth,the basic foundation of this country was based on the unstated beliefe that there is a god and each man woman and child has at some point in time a day of judgment.to get what they deserved for the kind of life they have lived,but people of evil and corrupt mines and ideas have relentlessly tryed to dystroy those ideals that promote honer and honesty.now we are reaping what they have sown,they are lucke they live in the usa because other places would have exterminated vermin like that.
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I used to work at a small bank(under 100 million in size) . We had examiners show up every year and tear the banks books apart (figurative). They was always rough on the little bank. When I heard that Federal examiners allowed the big banks to exchange their capital requirements for an insurance policy (AIG) , did not believe it. Apparently the big banks were able to put the squeeze on examiners which is why the government had to bail out AIG . What a screw up. —When viewed historically , banks have always been a problem to the government. Banking is currently one of the most regulated industry we have. They have a group of regulators that write new regulations every year. What happen this time is the tradition question of ""Who Watches The Watchers"". And like every time asked before ""No One"". Actually the Federal Reserve does have watchers. But the US Senate does not want any of the credit.
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Let us find some solutions that have work well in Singapore, the 1st City to be appointed or selected as Model City of the World in 2008 by UN. Openly Mr Ban has advised all countries of the world to pick on something that they need from S’pore…….get advice & training & HELP to test the method in their countries. S’pore is a controlled city by a Govt of one Party and has developed for 43 years (since 1965) from nothing to something to show to the world and obtained the well being as a 1st World Nation from UN, WTO, IOC, UNESCO, ASEAN, etc.
Get more details from Yahoo, MSN, Wikipedia or http://www.singaporeunited.sg
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My views on the Fed: Anything with regulatory power and money should openly show their books, or think about dumping their books in exchange for something you can see and the politicians who didn’t say anything to the Fed should have their wages cut by at least 1/3.
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