Fed Rejects Geithner Request for Study of Governance, Structure
Sept. 21 (Bloomberg) -- The Federal Reserve Board has rejected a request by U.S. Treasury Secretary Timothy Geithner for a public review of the central bank’s structure and governance, three people familiar with the matter said.
The Obama administration proposed on June 17 a financial- regulatory overhaul including a “comprehensive review” of the Fed’s “ability to accomplish its existing and proposed functions” and the role of its regional banks. The Fed was to lead the study and enlist the Treasury and “a wide range of external experts.”
Some top central bank officials, after agreeing to the review, saw a potential threat to Fed independence after the Treasury released the proposal, two of the people said. The Obama plan said the Treasury would consider recommendations from the review and “propose any changes to the Fed’s governance and structure.”
“It is not obvious at all why that is a Treasury responsibility or even appropriate why the Treasury would undertake that kind of study,” said Robert Eisenbeis, chief monetary economist at Cumberland Advisors Inc. in Vineland, New Jersey, and a former Atlanta Fed research director. “The Fed was created by Congress and it is not part of the executive branch.”
All for show!
But by doing this he appears to have credibility to the masses! Smoke and mirrors only! Move on folks...nothing to see here!
"Whenever I despair, I remember that the way of truth and love has always won. There may be tyrants and murderers, and for a time, they may seem invincible, but in the end, they always fail. Think of it: always"
Gandhi
"Liberty tastes sweetest to those who fight for it, and most bitter to those who work to deny it!"
LearnRonPaul
wow, just goes to show how
wow, just goes to show how obama isn't in charge at all...End The Fed.
i love it!
tough titties timmie!
Ron Paul is my President
Ron Paul is My President
haha
haha
Hows this for a headline to
Hows this for a headline to get the Dems on board:
"Fed to POTUS: Drop Dead"
Ventura 2012
Good summary. Short and entirely to the point. :) It does
sound like a good opportunity to enlist the left to support an audit of the Fed, now that the Dalai Obama has been insulted.
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"An economy built on fiat money is a society on its way to ashes."
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"An economy built on fiat money is a society on its way to ashes."
Our Congress Critters better start doing their jobs....
The Executive Branch does not have a say in the Fed, only Congress does. Our Congress needs to grow some big ones, and finally say enough is enough, and they should End The Fed, once and for all.
LOL, even Geithner got the cold shoulder
Wow, the Fed is really digging their feet in.
Audit the Fed, audit the Fed, audit the Fed.
Real eyes realize real lies
2012, we want our country back
2012 is the year for Ron Paul!
MSM Report: http://www.msmreport.com/
Move out of the way, Geisner & Company,
let a real hero named Ron Paul handle this.