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To: Earlie who wrote (76723)	11/23/1999 12:07:00 AM
From: Ken98	Read Replies (1) of 86076

Earlie, this Fed ownership topic has always interested me. The only information I have ever found (other than all the trilateral/goldman stuff without any backup) states that "member" banks nominally "own" the Fed. This is the best explanation I've found so far. If you find a better one let me know: <<Other criticisms stem from the fact that the Federal Reserve System, as our central bank, is institutionally related to banking - especially member banks. Member banks elect six of the nine directors of each regional Federal Reserve Bank. And each member bank owns nominal stock in its district Federal Reserve Bank. Boards of regional Federal Reserve Banks have been, de facto, largely representative of banking, financial and business interests - more or less by deliberate policy. Understandably, the boards of regional Reserve Banks must include knowledgeable banking and business leaders, since one of the regional Bank's major functions is to work jointly with and through member commercial banks in providing financial services to business, government, agriculture and the district economy.>> woodrow.mpls.frb.fed.us Regards, Ken.

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