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Bernanke Wants to Expand Fed's Market Oversight

This is from NPR

"Congress needs to expand the Fed's role and "task the Fed with promoting the overall stability of the financial markets," Bernanke said. For instance, the Fed should be given the authority to examine the books at financial institutions on the verge of financial collapse, to better understand the extent of their liabilities. It should also be given more tools to stabilize the markets when necessary, such as establishing bridge financing for insolvent banks."

This seems like a great idea to me. I love and trust our government and I am glad that they are watching out for me.

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We're from the Government, we are here to help. We need more power, it's for your own good. We not only need unrestrained power to create money, but we now need to be able to regulate financial institutions besides banks. The power of the State is more important that the freedom of the markets. We've simply gotten too big to fail; too powerful to let our poor judgement force us to relinquish control. Only more Government intervention can fix this. Are we over-tinkering with the markets? Nah, we're from the Government, we are here to help.

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