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Amend the Fed: We Need a Central Bank That Serves Main Street

Business  (tags: The Federal Reserve, The Federal Reserve Act, 100th birthday of Fed, dissatisfaction, Main Street, Fed mandates, Bernanke, QE, unemployment, inflation, debt crisis continues, elites get richer )

- 1659 days ago -
The Federal Reserve Act was drafted by bankers to create a banker's bank that would serve their interests. It is their own private club, and its legal structure keeps all non-members out. However, Congress has the power to amend the Fed.

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Alan Lambert (91)
Monday December 9, 2013, 1:04 am
Fascinating article, one of the points got me thinking about that classic episode of WKRP in Cincinnati where Mr Carlson said, "As God is my witness, I thought turkeys could fly."

Past Member (0)
Monday December 9, 2013, 2:12 am
The Fed has always been a tool to protect the interests of the very largest banks even if it means devastating the American Way of Life for ordinary Americans. It's time we put a short leash on the Fed and make it serve the people, not the wealthy institutions.

Judy C (97)
Monday December 9, 2013, 4:40 am
The article did make some really good points. The fed should serve the People. Incidentally, The negative interest idea is certainly horrible! Leave it to Larry Summers...

Jonathan Harper (0)
Monday December 9, 2013, 4:56 am

Robert O (12)
Monday December 9, 2013, 8:11 am
It's almost hard to remember a time when financial institutions and entities used to serve the people. :(
Thanks Judy.

Sheila D (194)
Monday December 9, 2013, 11:25 am
ALL government agencies should serve We, the people, who pay their salaries. The financial system in America, and the world, is run off the backs of the workers, the ones Mega Banks are cheating, paying big dividends and inflated salaries to CEOs & higher executives. Our financial system is broke, it needs fixing, but the very people who are doing the fixing are the same greedy corrupters that caused the inequity in the first place.

Roger G (154)
Monday December 9, 2013, 2:39 pm
noted, thanks

Jody B (6)
Monday December 9, 2013, 8:36 pm

Judy C (97)
Wednesday December 11, 2013, 3:27 am
We need to quit putting up with the bankers' BS, and reform the Fed. The People, the 99%, do not realize or use their power hardly at all.
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