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Kasz216 on 06 January 2014
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snyps said:
Kasz216 said:

snyps said:

 
 The pm can pick the chair but not the entire board!  Too much power in the executive branch is one of the reasons our fathers fought a revolution.

 

 

The Govenor is not head of the Supervisory Board.

The Chairmain of the Supervisory Board is the head of the supervisory board

The Govoner and Vice Govoner are head of the Icelandic banks.  There are only 2 (previously 3) instead of 12, beacuse there are much much fewer banks in Iceland then in the USA.

The Supervisory board are primarily regulators.   Like say the FDIC... or the lower level Federal Reserve regulators... whose names i don't even know.

 

Another admittance on my part,  don't be baffled, i actually don't have that big a head.  I miss spoke and hand no concept of the functions of the gov/vice governors (formerly a board of 3) and that of the supervisory board.  If i'd understood their duties i wouldn't have mixed up their chairs. Or who appoints them, as I don't believe it's the pm afterall but the min. of finance.  AnyWay, According to this

 

SOURCE, 

 

the supervisory functions include internal audit, budget and internal working rules of the central bank system.  Calling that authority the same as fdic is downplaying it's importance again.  Does congress normally nominate ppl to each of the fed banks to do internal audits?  No.  The GOA is restricted for "political" reasons.  

 

 

I know politicians are crooks, that's why i vote for ppl with good records.  But if we have come to the point where we take duties away from a large body of reps because we can't trust them and give the duties to a single person because we can trust him.. then haven't we reached a point where we lost faith in self government?

 

 

I don't credit the icelandic cb with saving iceland from bankers.  I don't know who to credit because U.S. Media can't report on it.  But if I may guess, I believe ppl came before banks because icelandic ppl aren't sheep like here. The fact their parliament has teeth is evidence of this.

The GAO audits the fed... and is an arm of the congress.  Appointed jointly by congress and senate.