Fed Profits From the Bailout? Don’t Count Those Chickens Before They Hatch

09-03-2009 • Wall St. Pit

There are three fundamental problems with these stories. The first is that it raises a question about the function of the Fed: should a branch of government seek profits at the expense of the private sector? It is ironic that Euroland’s regulators are calling for much more radical steps than Washington is willing to take. German Chancellor Angela Merkel and French President Nicolas Sarkozy are calling for more regulation and for limits on executive compensation even as the Obama administration continues to argue that such limits would constrain the financial sector’s ability to retain the “best and the brightest”. If the bozos that created this crisis are the best that Wall Street can find, it would be better to shut down the US financial system than to keep them in charge. It is doubly ironic that Nigeria (a country that normally would not come immediately to mind as a role model) has actually charged the leadership of five of its major banks with crimes. Each of these banks had recei

2 Comments in Response to Fed Profits From the Bailout? Don’t Count Those Chickens Before They Hatch

Comment by SamFox

Entered on: 9/6/2009 3:14:05 PM

Right on RickStone!!

If we started charing for crimes we could clean up DC. Treason is the 1st charge that comes to mind...

SamFox

Comment by RickStone

Entered on: 9/6/2009 10:37:11 AM

First off there is a misconseption that the Fed is a branch of the government, WRONG! The Fed is a privately owned , for profit corporation that is 60% owned by by non US citizens. If you think that it is a government agency, why is it that it is not listed in the government pages of the phone book? Do some research! Find out the truth, listen to Ron Paul before the country is ruined by Obama.

Make a Comment (2) • Email Link • Send Letter to Editor