The “Federal” Reserve is to get more power under the Obama administration’s new regulatory overhaul. They are to have “sweeping authority to regulate any company who’s failure could endager the US economy” according to the Washington Post.
Isn’t this like letting the fox gaurd the hen house? There is nothing “Federal” about the Federal Reserve except it’s name. Again, it is simply a cartel of the banking industries most influintial and wealthiest interests watching out for their own and letting you and I bail them out when they are deemed “too large to fail.”
In other words, now the system will be able to be used to manipulate big business interests and bail out more of them with tax payer dollars providing more fat cats with golden parachutes on the backs of working class Americans.