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Lawrence 147

07/19/09 12:37 PM

#81909 RE: Bizreader #81906

Bizreader, thank you but quit bashing Bush he is gone. Do you know how the chairman of the FED is appointed? The President is handed a list to choose from as to who the FED will accept as Chairman and the President must make his/ her (always got to be PC) selection from that list. That list will always contain the names of current and former GS executives. It is a very short list that the president receives and his choices are limited. Though it is true the President appoints the Chairman of the Federal Reserve, it is the Federal reserve that has the final say as to who it will accept. This is the root of the problem as it severely limits the oversight of the FED and allows it to continue in its criminal ways. By the way did you know it was a progressive that set up the Federal Reserve System it was Woodrow Wilson in 1914 and in 1913 he instituted the income tax. On his way out the door he instituted Prohibition and gave Women the right to vote. None of these acts has served the county well.
I don’t recall Bush for all his faults amending the Constitution. Perhaps skirting it perhaps even disregarding it but it still stands as it did when he took office. Perhaps if you look a little farther another Progressive made what Bush did during his term possible, take a look at what Roosevelt did.
Any way Bush is gone and my rant is done. We both must move on.

tomcougar

07/19/09 4:18 PM

#81931 RE: Bizreader #81906

I think it goes deeper than individuals. It appears that the different city clubs are fighting for control of which city (NYC, Charlotte, San Francisco) is the banking/financial capitol for the US with the Feds taking sides as to which one they are partial to. ie. Wachovia/Chalotte not part of the club give them to Citi. BAC/Chalotte not part of the club, force them to go through with the Merrill merger. WAMU/Seattle had no one on their side, they were not part of any of these clubs, so were seen as a threat or prey.
http://online.wsj.com/article/SB122303190029501925.html