Reid Unafraid of Lashing Out

[Omaha Steve]

Source: Associated Press

WASHINGTON (AP) - Alan Greenspan has retired as chairman of the Federal Reserve, so Senate Democratic leader Harry Reid has to find someone else to brand as Washington's biggest "political hack."

"I could give that designation to someone else," Reid said in a broadcast interview Sunday. "I don't think I'll do it here today."

But don't think for a minute the Nevada Democrat has changed his opinion about the venerable ex-Fed leader.

It was in 2005 when Greenspan was the target of Reid's barbs. Greenspan had given a qualified endorsement to President Bush's proposed Social Security and tax overhauls.


Read more: http://apnews.excite.com/article/20070722/D8QHP3H80.html

[Sarah Ibarruri]

1. I'm wasn't born here.... so I live in a state of perennial confusion, but....

Isn't it true that the Federal Reserve is a private banking association and not a govt. agency? Isn't it true that they are in control of OUR money and should not be allowed that? Isn't it also true that they're treated as if they were one of the most important branches of the government? And lastly, isn't it true that the chairman of this organization is treated as if he were some important individual like a god of some sort, and that usually these are mere economists, whose only intent is to keep the rich richer?

Please correct me if I'm way wrong.

[bemildred]

2. No, you got it right.

The government can't be trusted with control of the banking system, but a bunch of rich bankers can.

[Kagemusha]

3. The Fed's a guarantee that the govt won't just print more money to solve problems.

It is really no more complicated than that.

[buzzard]

4. Except that is exactly what they have been doing.n/t

[Sarah Ibarruri]

5. Aaah. Isn't that kinda like letting corporations decide what food is safe for me to eat? nt

[Sarah Ibarruri]

6. How could ANYONE agree with the purpose of existence of the FED RESERVE? nt

[harun]

7. Our current gov't tasks the Fed with making the rich richer because

the political culture (and the main stream media) thinks this is what the role of government is.

[Acadia Blue]

8. I don't like it that he has filthy lobbiests in his immediate family.

To me that spells corporatism and corruption, unless they are doing it for a chairty or some nonprofit.