Quote:
Originally Posted by onwebcam
I've been railing on the fed for many years.... Even right here on GFY... Even before '08... Back before they had to come out and admit they were a private banking conglomerate that answers to no one.. What, you don't remember that? When they told Congress to "GFY, we don't answer to you or the President (Obama)"
Way back then I was called a "kook" for saying it.. To this day people STILL believe it's a branch of the government.... It's not.. And they told everyone (including the idiots in Congress who thought they had say) this themselves... It's now written in plain English on their website for fucks sake..
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Well,
it's simple then.
GFY - Go Fund Yourself...
Private markets are there. You don't need those public banks. IT'S A FREE MARKET !
Considering the amount of failure, I prefer more of this was funded by private equity that was not backed by government (taxpayer) money.
Consider the fed rate a 'risk factor' being baked into the general taxpayer market.
Private equity is not near as forgiving or tolerant.