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Old 07-01-2009, 01:11 PM   #1056 (permalink)
Butterfly
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since the Fed is completely independent and make decisions based on a committee of 12 independent governors, I don't see how the government, above all the current one which is absolutely clueless about anything, GW Bush wouldn't be able to balance his personal account if he had to manage it himself, could intervene or dictate the Fed policy.

The bailout was an exception because the Treasury was getting desperate, but the Fed made the calls, and the Treasury followed, so at the end the Fed actually gave instructions to the government how to act.

Again, you have no clue
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