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Steve Forbes calls for massive downsizing of Federal Reserve

http://www.forbes.com/forbes/2008/1110/018_3.html - Details

hobbaswaggle: excerpt: "The Fed is politically unaccountable. Yes, its chairman makes periodic appearances before Congress, but the Fed is not dependent on congressional appropriations. It literally prints its own budget. It pays for its operations out of...

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planetbob99 saved this page on 10/26/2009 07:37am

excerpt: "The Fed is politically unaccountable. Yes, its chairman makes periodic appearances before Congress, but the Fed is not dependent on congressional appropriations. It literally prints its own budget. It pays for its operations out of the interest it receives on all the securities it holds and then remits the rest to Uncle Sam."

hobbaswaggle saved this page on 10/28/2009 10:29am

excerpt: "The Fed is politically unaccountable. Yes, its chairman makes periodic appearances before Congress, but the Fed is not dependent on congressional appropriations. It literally prints its own budget. It pays for its operations out of the interest it receives on all the securities it holds and then remits the rest to Uncle Sam."

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