iamemmittsmith Wrote: ------------------------------------------------------- > FYI, the goal of the Fed, from their website, is > this: > > supervising and regulating banking institutions to > ensure the safety and soundness of the nation’s > banking and financial system > > maintaining the stability of the financial system > and containing systemic risk that may arise in > financial markets > > providing financial services to depository > institutions > > > Sorry, according to you, i must be in the 3rd > grade for believing the Fed’s mission is what they > say it is. You seem to forget what you wrote. Check above. It says: "> And the entire function of our > gov’t is to ensure financial market stability. " Let me type it again for you. "> And the entire function of our > gov’t is to ensure financial market stability. " I just presented that to my wife who giggled.
iamemmittsmith Wrote: ------------------------------------------------------- > FYI, the goal of the Fed, from their website, is > this: > > supervising and regulating banking institutions to > ensure the safety and soundness of the nation’s > banking and financial system > > maintaining the stability of the financial system > and containing systemic risk that may arise in > financial markets > > providing financial services to depository > institutions > > > Sorry, according to you, i must be in the 3rd > grade for believing the Fed’s mission is what they > say it is. By the way, I don’t know where you got that but the primary purpose of the Fed is none of those three it is: a) To provide and implement a monetary policy aimed at controlling inflation, providing sustainable GDP growth, and promote log-term stability of interest rates.
It appears the primary purpose of the Federal Reserve is to be the b*tch of weak populists’ politicians.
Did you get that from the website?
I think FED is bailing out all odd number failures: 1) BSC–yes 2) LEH–no 3) AIG–yes 4) Wamu–no FRE and FNM argument can be put as, “well, they were part of the govt.” And you guys thought the FED didn’t have a valid reason to the bailouts; geez.
I would rather to believe FED was bailing out AIG debt holder like commercial banks and MMFs, not AIG shareholder. Apparently AIG shareholders were f**ked.