17 June 2009

Bend it 'til it breaks

I'll start by stating that I'm in support of certain levels of government regulation. I think faulty regulation or maybe a lack of regulation is a portion of the cause for all the crap that's taking place today.

I don't, however, in any way support the White House passing that regulatory power to the US Federal Reserve. It's no secret my thoughts on the Fed and I make no apologies for thinking that Geithner and Bernanke (even Greenspan) are un-trustworthy snakes with an agenda that doesn't line up one bit with public interest.

If our Federal government wants to apply regulations to certain free-market organizations...go for it. But we're in for some shady workings to have the Fed imposing Federal regulation as an organization that is private, not a branch of government and is not required to provide public documentation or audits.

But hey, they've been making the decisions on many things for years. Really great decisions like printing copious amounts of paper money and inflating the US Dollar, so what could possibly go wrong?


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