Skip to main content

View Diary: Where are the JOBS Obama? Here, I'll Show You (66 comments)

Comment Preferences

  •  So you want Congress to control the Fed? (0+ / 0-)

    Thus setting monetary policy?  That is what control of the Fed would ultimately mean - congress would have control over monetary policy which I think would be disastrous.

    Now, of course, the Fed needs to be more transparent but not thanks to a group of 535 legislators who can't even agree to keep college tuition rates low controlling our monetary policy.  

    •  More disastrous than Greenspan controlling it? (0+ / 0-)

      Highly doubt it. Not even sure they could do worse.

      The "independent" Central Bank is an idea failing all over the world. ECB is doing a lot to wreck its credibility as well.

      Monetary policy is just as - if not more important than - fiscal policy, the notion that it should be outside democratic control is ridiculous unless you believe representative government and democracy are inferior to technocracy. Right now it's clearly captured by the industry it claims to "regulate."

      In truth, Wall Street regulates the government using institutions like the Fed not vice versa.

Subscribe or Donate to support Daily Kos.

Click here for the mobile view of the site