Our Awful Situation
Bush proposes financial regulation overhaul
Plan would expand powers of Federal Reserve
It looks like the Powers That Be are making a move on the entire U.S. banking system through the Federal Reserve. As Lenin himself once pointed out - all you have to do to control a population is to control the banks. From MSNBC:
The Bush administration is proposing a sweeping overhaul of the way the U.S. financial industry is regulated.
In an effort to deal with the problems highlighted by the current severe credit crisis, the new plan would give major new powers to the Federal Reserve, according to a 22-page executive summary obtained Friday by The Associated Press.
The proposal would designate the Fed as the primary regulator of market stability, greatly expanding the central bank’s ability to examine not just commercial banks but all segments of the financial services industry.
Here’s more coverage of this story over at Cryptogon.
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