Harvard Economist (and 166 others) agrees with my views on the bailout! :)

[Jackson50]

akuma587 said:

Jackson50 said:

The problem is the Fed's duty is not to expand the markets. It is to maintain a sound money supply and it has been woefully inept in that regard. To be honest, if congress had more control over the Fed, the problem would be exacerbated. Can you imagine the congresspeople setting the interest rates? I would not mind the Fed if competing currencies were allowed. Unfortunately, that is no longer the case.

 

Yes I can, and I imagine it being even worse than it is now.  The Fed may not be perfect, but I would rather have them in control of interests rates than Congress.

 

Amen to that. That would be a disaster of epic proportions.