The Octopus that is Big Fed just grew some new arms, check it out: 

Full Story here:

A sweeping proposed overhaul of U.S. financial regulation is to be unveiled by Treasury Secretary Henry Paulson on Monday, according to reports.

The plan would give new powers to the Federal Reserve to be the primary regulator of market stability, with authority over all parts of the financial services industry.

Analysis: Inside The Paulson Plan

Paulson’s plan would give the Fed regulatory authority over all financial institutions that operate with government guarantees, such as deposit insurance for banks, and would cover the insurance industry. A new regulatory agency would oversee consumer protection issues while the Office of Thrift Supervision, which supervises thrift institutions, would be folded into the Office of the Comptroller of the Currency, which regulates banks.

The plan is also understood to include merging the Securities and Exchange Commission with the Commodity Futures Trading Commission, and to provide for tightened regulation of mortgage origination.

One thought on “Big Fed: Monday Overhaul Of U.S. Financial Regulation

  1. chere says:

    Why would Americans give the Federal Reserve control of America’s banks. As a Patriot I would just as soon see America turn into a bartering Nation than have these evil serpents take over our wonderful Nation. At least “we the people” will have stopped paying the criminal Fdrl Resv.
    Rather I advocate bringing charges against this mobster bunch, politicians lawyres & judges included. They are trying to twist themselves into being a legit part of our Natiuon rather than the Unamerican illegal cartel that they are. This would be a nightmare if this were to happen. I would immed stop working, so I wont have to pay taxes. Work my family who are farmers & contract workers of various fields. I would advocate bartering so as to avoid paying any unconstitional taxes. In other I will not be one participating in paying salaries.
    These are of the same bunch Jesus ran out of the temple.
    the Fedrl Resrv are pieces of crap price-fixing money changers!

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