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Fed doesn't have authority to regulate jack. Fed is a private organization, set up by banks in the '30s to self-regulate themselves, presumably to stave off the
by shachar 13y ago
Fed doesn't have authority to regulate jack. Fed is a private organization, set up by banks in the '30s to self-regulate themselves, presumably to stave off the government descending on this industry and regulating it to the ground. I still don't understand why they weren't disbanded in 2008.
- Cless 13y agoThe Fed was set up a couple of decades before the '30s.
- logfromblammo 13y ago1913, I believe. Jekyll Island. Look it up if it interests you.
- maxerickson 13y agohttp://en.wikipedia.org/wiki/Federal_Reserve_Act http://en.wikipedia.org/wiki/Federal_Reserve_Act Will you read it?