Fed Considered Stronger Actions, Record Shows

[alp227]

Source: The New York Times

The Federal Reserve’s recent pledge to keep low interest rates very low through at least mid-2013 was reached after a healthy debate over bigger options for monetary stimulus, according to the minutes released on Tuesday from the central bank’s most recent meeting.

Among the policy options Fed policymakers considered were changing the size or composition of the Fed’s balance sheet and reducing the interest rate paid on banks’ excess reserve balances.

On the other hand, some unnamed members of the committee were in favor of doing nothing.

“Some participants judged that none of the tools available to the Committee would likely do much to promote a faster economic recovery,” the minutes said.

Read more: http://www.nytimes.com/2011/08/31/business/economy/fed-considered-doing-nothing-record-shows.html

[earcandle]

1. And why does not the normal way we handle these issue work anymore? Congress has an obligation to

levy compulsory tax revenue from all Americans without favor. To go into the bank accounts of both businesses and personal bank accounts to place liens and take funds, is not unusual. This is not something that is liked or disliked. It is mandatory. Remember the saying: only two things one must do in this world is to die and to pay taxes. So stop being derelict. We do not need debt financing. We do not need the Federal Reserve Bank to tell us how to make our country prosperous.

Do your fucking job Congress, or GET OUT!

[BNJMN]

2. Can the Fed prosecute for fraud?

:shrug:

[blueclown]

3. How come nationalizing all investment banks that had significant CDOs on their books

was never considered?

I guess that is because it would have wiped out all shareholders, and we wouldn't want that. :sarcasm: