Senator Elizabeth Warren Opposes ‘Audit the Fed’ Bill & Alan Greenspan Admits The Federal Reserve Is Above The Law & Answers To No One

[HoustonMilfDebbie]

Originally Posted by SEE3772

http://www.wsj.com/articles/BL-REB-30710



Video - Alan Greenspan Admits The Federal Reserve Is Above The Law & Answers To No One

I totally agree with her. The Feds have been de-regulated for eons. And, so has much of corporate America. Corrupt to the max and Americans are suffering for it, especially when you realize the middle class is paying an unfair proplortion of taxes.

[lustylad]

Originally Posted by HoustonMilfDebbie

I totally agree with her. The Feds have been de-regulated for eons. And, so has much of corporate America. Corrupt to the max and Americans are suffering for it, especially when you realize the middle class is paying an unfair proplortion of taxes.

So you "totally agree with" Elizabeth Warren and oppose more Fed audits? What are you talking about when you say "the Feds have been de-regulated for eons"? Try to stay on topic and follow the conversation.

[CuteOldGuy]

The FED needs a full scale forensic audit with no limitations. It needs to be held in public, reported to Congress, and published where anyone can view it.

[lustylad]

What are you looking for, COG? What is the justification for wasting more taxpayer money and time beyond what we already spend on the numerous audits in my links? The Federal Reserve is a huge operation. Calling for a "full scale forensic audit with no limitations" shows you don't know what you are looking for and just want to harass the Fed in order to prove you are "anti-statist" or to wrap yourself in some other meaningless label.

[CuteOldGuy]

No. If I knew what they were doing, I wouldn't need an audit. I tell you what. I'll give up on the audit if we just disband them. How's that?

[lustylad]

Lol... c'mon COG, how can you claim to teach economics and not know what the Fed does? How do you discuss monetary policy? A "forensic audit" is usually performed when a crime is committed. If you don't even know what the Fed does, how do you know there is a crime to be investigated? Or is your argument "we need another audit to explain the previous audits I don't understand"? This could go on forever.

As for disbanding the Fed, I don't know a single reputable economist who endorses such a whacked-out, irresponsible idea. Do you want the US to be the only major country without a central bank? Gee, that would inspire lots of confidence in global financial markets. Maybe we can ask Jamie Dimon to step in and backstop the next financial crisis, just like his predecessor J.P. Morgan did during the Panic of 1907. Great idea, COG!

You would do better to study what the Fed is doing, then criticize its specific actions, policies, programs and announcements - such as quantitative easing, FOMC decisions, forward guidance, etc. There is a lot of intelligent debate out there. Disbanding the Fed isn't part of it.

.

[I B Hankering]

Originally Posted by lustylad

Lol... c'mon COG, how can you claim to teach economics and not know what the Fed does? How do you discuss monetary policy? A "forensic audit" is usually performed when a crime is committed. If you don't even know what the Fed does, how do you know there is a crime to be investigated? Or is your argument "we need another audit to explain the previous audits I don't understand"? This could go on forever.

As for disbanding the Fed, I don't know a single reputable economist who endorses such a whacked-out, irresponsible idea. Do you want the US to be the only major country without a central bank? Gee, that would inspire lots of confidence in global financial markets. Maybe we can ask Jamie Dimon to step in and backstop the next financial crisis, just like his predecessor J.P. Morgan did during the Panic of 1907. Great idea, COG!

You would do better to study what the Fed is doing, then criticize its specific actions, policies, programs and announcements - such as quantitative easing, FOMC decisions, forward guidance, etc. There is a lot of intelligent debate out there. Disbanding the Fed isn't part of it.

.

+1

Gotta be something there like the Fed. The U.S. cannot stay competitive without it, or something like it.