Paulson Urges New Fed Powers

Not that I have anything to invest in markets, etc., but this caught my attention as yet another instance of usurpation of power away from legitimate government power.

JoyAnna — Treasury Secretary Henry M. Paulson Jr. plans to call for the Federal Reserve to be given new, explicit powers to intervene in the workings of Wall Street firms to protect the financial system, adapting his vision of how the financial world should be regulated to reflect the lessons of the collapse of Bear Stearns. Paulson's recommendations go beyond those contained in a blueprint for financial regulation that he unveiled shortly after the Bear Stearns rescue, proposing an enhanced role for the Fed in preempting financial crises but offered few details, and calling for the Fed to be given explicit power to step in whenever a firm poses risks to the system and the authority to demand information from financial institutions so it can better anticipate emerging threats.

ChrisBowers's picture

Not to mention they have already cut the budget of the SEC and have been slowly but surely stripping them of their power to regulate/investigate. Isn't privatization wonderful??? Paulson is the same one talking up a strong dollar policy during this time when the dollar is weaker and more diluted than it has ever been since coming off the gold standard. Is he just delusional or does he really think we are that stupid? I will leave that question up to each of you....

I have a strong hunch that an "enough is enough" moment is quickly approaching and there will be victorious cheering in the streets worldwide before its all done!!!!

What a perfect intro that would be for Barack and Michelle!!!!

Love, Chris

The Gathering Spot is a PEERS empowerment website
"Dedicated to the greatest good of all who share our beautiful world"