Fed's Power to Intervene in Financial Crisis?

Treasury Secretary Henry Paulson has proposed to give Fed's more.... the so called power to intervene in financial crisis. It is not a power. Let's make it clear Mr. Paulson, it is a responsibility given to Fed's under the disguise of "power" to insulate the financial marketeers' irrational risk taking at the cost of the public funds. In addition, it appears that Fed's will inherit responsibilities and liabilities which in turn will insulate the so called financial market. Also, the creation of the so called consumer protection unit is an interesting way to shift consumer liability from the financial corporate world to Fed's consumer protection unit. Behind fancy words such as consolidation, efficiency, consumer protection, reform..... lies the danger of creation of another financial corporate financial welfare system.



Time to ponder..........