Re: [OpenFX] Yahoo! News Story - Bernanke: Fed, others working on overhaul rules

"I'm from the government, and I'm here to help you."

Where have I heard this before?

Somehow, some way, I'm betting that this will further inhibit investment in the economy and in a "backdoor" way increase the power of the central bank and the "elites" over the US government. Bernanke and Geitner may not be officially in charge but they out vote anybody else and they are not sending their cronies from Goldman et al down the river.

AHF

--- On Thu, 9/30/10, Clay Mara <clay@claymarafiote.com> wrote:

From: Clay Mara <clay@claymarafiote.com>
Subject: [OpenFX] Yahoo! News Story - Bernanke: Fed, others working on overhaul rules - Yahoo! News
To: OpenFX@yahoogroups.com
Date: Thursday, September 30, 2010, 12:14 AM

Clay Mara (clay@claymarafiote.com) has sent you a news article.
(Email address has not been verified.)
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Personal message:

Hi Traders,

This doesn't exactly give me warm fuzzies:

"At the same time, the Fed is transferring many of its consumer protection responsibilities to a new watchdog agency created by the law. The Bureau of Consumer Financial Protection is housed within the Fed and bankrolled by the Fed, but Bernanke has no authority over it."

I've learned that whenever legislation is couched as something good for the general consensus, BEWARE. Also notice, this new "Bureau" is housed within a private bank, The Federal Reserve.

It's time this country woke-up and the general population took it's collective head out of sand (and I'm being polite here).

Comments welcome.

Cheers,

Clay

Bernanke: Fed, others working on overhaul rules - Yahoo! News

http://news.yahoo.com/s/ap/20100930/ap_on_bi_ge/us_financial_overhaul

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