Banking woes

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   Just thinking, in the early 1800's congress in order to sort out the economy of the US, and to assist in the woes of independant and "state" banks, proposed a Bank of the United States.  One bank, one currency (at the time each state printed its own currency) and one controller of the currency.

It failed, only the universal US Currency came out of the final congress vote on it.

Now with the Fed taking over more and more financial institutions is the Federal Government going to attempt to reinstitute the "Bank of the United States" as the prime financial institution.  The Federal Reserve has been slowly taking control of the markets, and the failures of private banks, based on federal interference (bad lending policies forced on the banks), is this just phase one of the Nationalization of our financial institutions.  FDR was also looking at Nationalizing the Banking Institutions in 1934.

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oldsoldier Members Profile Send Private Message Find Members Posts Add to Buddy List Moderator Group Crazy old guy Joined: 10 June 2002 Status: Offline Points: 6725	Post Options Post Reply Quote oldsoldier Report Post Thanks(0) Quote Reply Topic: Banking woes Posted: 01 October 2008 at 12:38pm
	Just thinking, in the early 1800's congress in order to sort out the economy of the US, and to assist in the woes of independant and "state" banks, proposed a Bank of the United States. One bank, one currency (at the time each state printed its own currency) and one controller of the currency. It failed, only the universal US Currency came out of the final congress vote on it. Now with the Fed taking over more and more financial institutions is the Federal Government going to attempt to reinstitute the "Bank of the United States" as the prime financial institution. The Federal Reserve has been slowly taking control of the markets, and the failures of private banks, based on federal interference (bad lending policies forced on the banks), is this just phase one of the Nationalization of our financial institutions. FDR was also looking at Nationalizing the Banking Institutions in 1934.

Pariel Members Profile Send Private Message Find Members Posts Add to Buddy List Platinum Member Guested - language. Joined: 06 October 2003 Location: New Caledonia Status: Offline Points: 5140	Post Options Post Reply Quote Pariel Report Post Thanks(0) Quote Reply Posted: 01 October 2008 at 12:43pm
	Jackson getting rid of the National Bank was one of the many horrible things he did as president. Having one standard for banking and investing is a good thing, and the SEC and the Federal Reserve have been going a long way to making that happen. I'm a big fan of Bernanke, actually. I think he's stepped into one of the most difficult roles of modern America, which came with very big shoes, and he's doing a great job.