Member banks within each of the 12 districts of the Fed elect 6 of the 9 regional board members and the president for that district. Since the Treasury now intends to take minority equity stakes in some banks that it claims are struggling, (ostensibly for the purpose of preventing investors from pulling out), it will have partial control over the Fed. That means the Fed is now even less independent.
As the onion is peeled from the skin of society the tears begin to fall off the stench that permeates the senses. The deception…
This democratically elected, electoral college decided, socialistic dictatorship of elitists that make up the 546 members of our Congress, Sentate, Judiciary, Vice President and President have failed the people. It will be interesting to see just where the money went…if we ever do find out the answer to that question…
The stake of claim is upon us all!