new powers to the fed

http://news.yahoo.com/s/ap/20090618/ap_on_go_co/us_financial_overhaul
I'm interested in some feedback on a question relating to the above article. Something along the lines of:

Will the congress give the Federal Reserve powers as a regulatory agency before with December 31, 2009?

Any changes you'd like to see, details that need to be included, or clarifications to be made before making the new question? Where do you think the odds should be started?

you might wanna say/ask "new powers as a regulatory." don't the fed already have powers as a regulatory?

Good catch, yes, they do have some regulatory powers and this would certainly expand them in its current power. Of course, it's like having the fox manage the regulations over hen house security.

i agree 100%. any time the govt gets more power/regulatory authority its a bad thing.

If the fed were really a governmental entity, perhaps I'd have some small degree of trust (trust in their intentions, not necessarily in their competence). But given it's really a group of self-interested bankers who tell the treasury what they're going to do and leave the treasury and the chairman of the fed to explain what's going on, my trust is nil.

The federal reserve, the fractional reserve banking system, and fiat currency are the greatest ponzi scheme in history. It's even endorsed by the government.

glad you said it. you explained it much better than i could. the IRS is another sham. somewhere along the line the american people as a whole fell asleep. now the genie is out of the bottle, and its gonna take sumthin drastic to happen to get him put back. people just let govt keep growing in size and power. it use to be raising taxes and spending would get peoples attention. now they don't even care about that.

I think it's a lesson in human behavior and motivation. As a nation, we've lost any interest in independence and self-sufficiency. People happily traded it away for the illusion of security and control. How many Americans listen to FEMA, the Red Cross, or the CDC when it comes to emergency preparedness? Yet when Katrina hits they somehow expect some super-human response to be there before the clouds have even lifted.

In the last nine months (with the nearly complete meltdown of the global financial system) I've really had to re-examine my long-standing principals, beliefs and values. As a government employee, I really do think the people in the field care about this nation's citizens, but that's now tempered with the obvious fact that the leaders of the government don't care in the least about its citizens; they only care about their own power. With each new program, the individual loses sovereignty and a smaller and smaller group gains power. When you add in the evils of debt controlled by the central banks that now shackles our greatest corporations, our governments, and 7 out of 10 individuals, we're like steers in the stocks heading to slaughter.

Unfortunately, very few even understand that there's a problem. So much is dependent on the current system that every ounce of resources will be used to prop it up until its last breath. By that time, issues like the rise of China & India, the end of peak oil, and global food shortages that result from both (say nothing of the possibility of climate change) will be upon us and we won't have an ounce of strength left to resist. We're living unsustainable lifestyles built upon the presence of cheap oil. When the oil runs out, the ride stops.

I used to be an optimist and have faith in the system. Now I'm a realist and it's a much more disturbing place to stand. I now understand that democrats don't have the answers; republicans have even less; and the liberitarians may be right, but their ranks are filled with nutjobs and lack practical solutions. None of them have come to terms with the big picture and have a practical solution, namely because there is no practical solution. The US is now a net importer of food because we came up with the bad idea of using corn to replace gasoline and congress decided to subsidize the hell out of it. It's just one of many special interest ideas that makes our lifestyles more vulnerable, more dependent, and less sustainable over time.

if ron paul would change his foreign policy i could get behind him. all tho at times i wish his foreign policy would me implamented for 2 years. then watch all the nay sayers come begging for the US to help fix things. i would say sure we'll help but its gonna cost ya. we could be debt free in 5 or 10 years.

ALEX JONES FTW