Live Webcast On Fed Independence

House Committee On Financial Services hearing on Regulatory Restructuring: Balancing the Independence of the Federal Reserve in Monetary Policy with Systemic Risk Regulation.

Here is the link with all the prepared testimony.

Panel One

• Mr. Donald L. Kohn, Vice Chairman, Board of Governors of the Federal Reserve

Panel Two

• Dr. Frederic Mishkin, Alfred Lerner Professor of Banking and Financial Institutions, Graduate School of Business, Columbia University
• Dr. Laurence Meyer, Vice Chairman, Macroeconomic Advisers
• Dr. James K. Galbraith, Lloyd M. Bentsen Jr. Chair in Government/ Business Relations and Professor of Government, LBJ School of Public Affairs, University of Texas
• Dr. Richard Berner, Chief Economist, Morgan Stanley
• Dr. John B. Taylor, Mary and Robert Raymond Professor of Economics, Stanford University
• Dr. Allan Meltzer, The Allan H. Meltzer University Professor of Political Economy, Tepper School of Business, Carnegie Mellon University

And here is the link to jump straight into the webcast.

Comments

[economessed]

Who levered the PhD's on Panel two? They've got more degrees than a thermometer.  Why is it that we need to stack up all the very smart people to talk around the problem, as if that's going to solve anything?

Don't like systemic risk?  Elimate the moral hazard, restore Glass Stegall, and have the regulators actually do the job that they are paid to do. 

(And boo to CAPTCHA, which won't accept a correct answer!!!!)

[Anonymous]

When something is important (viper banker-Fed secrecy and unaccountability) there is no shortage of "degrees in suits" they can wheel out to obfuscate and deflect valid criticism. Ain't no way short of a revolution the Paul bill to audit Fed gets through the Senate...a miracle if gets through the House without neutering. How about "the Congress can audit the Fed never. Is that clear enough language? Good."

[Undertaker (not verified)]

The FED only has one job and what is best for the publics interest isn't it.

Dig a hole, throw'em all in it and I'll go warm up the backhoe.

Bastards!

[Miles Kendig]

All of the Fed's actions have been focused upon the attempt to make the restoration of confidence a confidence game.  The Fed is simply mirroring the intent of its member institutions.

[Anonymous]

The issue of the Fed's independence is the biggest farce of a red herring on EARTH!!!

The issue is "ARE THERE ANY ELECTED OFFICIALS THAT ARE NOT CONTROLLED BY THE PRIVATELY HELD 1.5 TRILLION DOLLAR MONOPOLY?"

This organization is in charge of our whole country and our elected officials DO NOT represent wethepeople, they represent the privatley held mammoth of a monopoly that gets trillions of dollars to keep bankrupt entities standing up while viable banks don't get a chance to buy the miserable slimy remains of the dead creatures because the banksters are too busy sucking out the life blood of the US citizens to do what is right--all that matters is pumping money in to make the fed bigger so this corporation can increase it's size and power.