Fed to Miss Review Deadline

[bemildred]

Source: WSJ

The Federal Reserve won't meet the U.S. Treasury's Oct. 1 deadline to prepare a broad review of the central bank's structure and governance, a Federal Reserve official said.

The Treasury requested the study in June as part of its sweeping blueprint for revamping financial-system regulations, saying a review of the central bank was needed "to better align its structure and governance with its authorities and responsibilities."

The Fed has faced criticism in Congress for overreaching during the credit crisis to bail out failed financial institutions, such as American International Group Inc., and for not providing enough information about how such rescue money is being used.

Some lawmakers have criticized the Fed's 12 regional reserve banks, where private bankers play a role as directors. And Rep. Ron Paul, a Texas Republican, has won broad support for a bill demanding that the Fed be audited by the Government Accountability Office.

Read more: http://online.wsj.com/article/SB125357683674329461.html

[OwnedByFerrets]

1. Nanner Nanner Boo Boo....the Fed sticks its tongue out

at Congress.

[Babyserendip]

2. HR 1207: REVIVIE AMERICA and KILL OFF THE BANKING CARTEL

Dear All,
There is no bill more important to the fate of the U.S. economy and with it the fate of the American people (read Labor and all workers who exchange 9-2-5 time for money) than HR-1207.

You must understand exactly why the oligarch capitalist elite of both parties are terrorified of this bill - including those elite within the Democratic party. It will completely destroy their control and guidance on broad investment in the United States, and their duplicitous trades off that overseas, think labor arbitrage, etc.

With the passing of HR-1207 and the eventual end of the Federal Reserve...investing PRIVATE EQUITY in the United States (not just buying our passive government bonds that does nothing for the American people) will be the greatest investment opportunity in over a 100 years.

Waves of domestic and international capital post HR-1207 will stop buying our bonds (which is passive to the American people) and start investing EQUITY (which is positive for the American people) direct into America business and will result in the full reverse of our sky rocketing unemployment. It will be an economic reset as if it was the 1880s all over again. We will find ourselves on par with China and others in a way that will upset all American & Chinese globalists (though not European).....and with it flush down the toilet a whole class of double-faced elites that want nothing more to hold us down where they can arbitrage the American peoples ignorance to the bitter end - which is exactly what is still going on.

HR-1207 has broad bi-partisan support. There is NO QUESTION this bill can pass the House and Senate VETO proof. PLEASE CALL AND HARASS BARNEY FRANK AND OBAMA TO STOP STANDING IN THE WAY.

[DCKit]

3. Can't freakin' wait to hear this excuse.

3+ months to work up the organizational chart for Fed? What are they hiding in their management structure?