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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: BGR who wrote (71611)	12/9/1999 9:29:00 AM
From: Mike M2	Read Replies (1) \| Respond to of 132070

BGR, don't get too hung up on the Feds charter. They do what they want for the benefit of Wall St and politicians at the expense of the public. Is it in the Feds charter to arrange the bail out of a hedge fund ? some would argue that the Federal Reserve Act itself is unconstitutional but I am not interested in that debate at the moment. I'd like to focus on the current reality of the bubble. mike

To: BGR who wrote (71611)	12/9/1999 9:43:00 AM
From: Skeeter Bug	Read Replies (1) \| Respond to of 132070

>>But, if the effects of increasing credit has no effects on consumer prices, why should the Fed be involved? Isn't that outside its charter (which has two facets, ensuring growth of economy and maintaining price stability - none of which are violated)?<< consumers don't buy houses? consumers don't buy stocks? btw, would you rather the house you are going to buy go up 30% or eggs go up 30%? why is housing and why are investments not included and properly weighted in inflation calculations?