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Remember, Alan Greenspan was a member of Ayn Rand's collective. To understand this is to understand why we are doomed with the Federal Reserve.
The Congress has tasked the Federal Reserve with achieving stable prices and maximum employment - the dual mandate.
When the economic well-being of their nation demanded a strong and creative response, my colleagues at the Federal Reserve... mustered the moral courage to do what was necessary.
Prices are going up. Unemployment continues to go up. And we have not had the necessary correction for the financial bubble created by our Federal Reserve system.
The Federal Reserve is incapable of accomplishing its stated objectives.
In addition, the oil royalties the Federal Government does not collect from big oil will starve the Land and Water Conservation Fund of critical financial resources.
Alan Greenspan is going to go down in history as one of the worst Federal Reserve chairmen ever.
The Obama administration's plan is to have the Federal Reserve regulate banks that might pose a 'systemic risk' if they were to fail.
You have safety and soundness as primary purpose of the Federal Reserve, the OCC, and the other agencies which control banking regulation.