Hostile Takeover

WSJ: New Bill Gives More Power To Fed

I told you that the financial deform legislation was nothing more than a power grab benefiting the Federal Reserve; that and a quantum leap in government surveillance of innocent citizens with its mandate to track every purchase you make. Thus you have some of this starting to be admitted by the media. So don't believe me. Read the Wall Street Journal:

"But the Fed's role is in most respects expanded by the legislation. The central bank will decide whether the council should vote on breaking up big companies if they threaten the stability of the entire financial system. It also will be able to force big financial companies—not just firms legally organized as banks—to boost their capital and liquidity. It will have the power to scrutinize the largest hedge funds."