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Should we give the Fed all this power??
I’m kind of skeptical of giving the fed all this power …
Is this a knee-jerk reaction to simply bad lending practices and worse borrowing practices??
Paulson Proposes Financial Overhaul
Monday March 31, 11:07 am ET
Administration Unveils Sweeping Plan to Overhaul Financial Regulation
WASHINGTON (AP) — The Bush administration Monday proposed the most far-ranging overhaul of the financial regulatory system since the stock market crash of 1929 and the ensuing Great Depression.
The plan would change how the government regulates thousands of businesses from the nation’s biggest banks and investment houses down to the local insurance agent and mortgage broker.
http://money.cnn.com/2008/03/31/news/economy/paulson_regulation/index.htm?cnn=yes
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/03/31/cnfed131.xml
http://biz.yahoo.com/ap/080331/fed_overhaul.html?.v=3
Absolutely not!
This current government has grabbed more power during the Imperial reign of Bush, than any other administration in American history.
Remember that any time a law is passed, or a rule is made, someones freedom is stepped on. and in the end, we all lose.
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