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ADL Colin · 03-31-2008, 06:41 AM

After it was clear that Ron Paul had no chance of getting the Republican nomination the point of view of many of Paul's supporters seemed to become that his message had gotten out. That, and not winning, was the point.

One of Paul's most ardent and infamous proposals is to abolish the Fed.
Yet every day it seems the Federal Reserve is gaining in power. The backing of JP Morgan's buyout of Bear as an example. Paulson is proposing that the Federal Reserve gain the legal authority to look at the financial status of any institution that could affect market stability.

"The Treasury will recommend that the Fed share authority over banks, securities firms and insurers in monitoring corporate disclosures, writing rules and stepping in to prevent economic crisis, according to the draft, which was distributed to officials last week and obtained by Bloomberg News.

The plan also suggests a distinction be made between the Fed's ``normal'' lender-of-last resort discount window to help banks meet short-term funding needs and ``market stability'' lending to help stave off funding shortages and panics. In that function, loans could be extended to federally chartered insurers and financial institutions. "

Why, if Paul's message was having an effect, is the Federal Reserve becoming more powerful then it has ever been?

03-31-2008, 06:41 AM
ADL Colin Too lazy to set a custom title Join Date: Feb 2001 Location: Tube Titans, USA Posts: 11,929	Ron Paul's message After it was clear that Ron Paul had no chance of getting the Republican nomination the point of view of many of Paul's supporters seemed to become that his message had gotten out. That, and not winning, was the point. One of Paul's most ardent and infamous proposals is to abolish the Fed. Yet every day it seems the Federal Reserve is gaining in power. The backing of JP Morgan's buyout of Bear as an example. Paulson is proposing that the Federal Reserve gain the legal authority to look at the financial status of any institution that could affect market stability. "The Treasury will recommend that the Fed share authority over banks, securities firms and insurers in monitoring corporate disclosures, writing rules and stepping in to prevent economic crisis, according to the draft, which was distributed to officials last week and obtained by Bloomberg News. The plan also suggests a distinction be made between the Fed's ``normal'' lender-of-last resort discount window to help banks meet short-term funding needs and ``market stability'' lending to help stave off funding shortages and panics. In that function, loans could be extended to federally chartered insurers and financial institutions. " Why, if Paul's message was having an effect, is the Federal Reserve becoming more powerful then it has ever been? __________________ Adult Date Link - $50 PPS starting NOW! -- good and JUICY! skype = "adultdatelink"