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Pastimes : Ask Mohan about the Market
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To: tekgk who wrote (7996)11/15/1997 10:53:00 AM
From: Zeev Hed  Read Replies (1) of 18056
 
tek: I agree that some of the operations of the Fed are counter productive in that they imply that some people at the Fed know better than the market what is "good" for it. However, in recent times most such intervention have aborted spiraling disasters and in essence derive from the authority the Congress has given to the Fed. If, WE the PEOPLE, decide that this power is used onerously, it is up to us through our Congress to take these powers away. We the PEOPLE have just taken away from the IRS soome of the omnipotence it used to have, if we think the same should be done with the FED, we have an open forum to debate the Fed's misdeeds. I for one would suggest that since Burns, we were fortunate to have pretty good leadership in the Fed's. Not perfect, but who is?

Zeev
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