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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: LLCF who wrote (16895)	11/16/2000 11:56:42 AM
From: edamo	Read Replies (1) \| Respond to of 65232

llcf....inspite of the statement in the richmond fed link, "to mitigate the economic booms and busts of the 1800s and early 1900s", h.r.7887 contains no such verbage, and neither does usc title 12 chapter 3. the intent of the act was to regulate banks, and to limit potential bank failures and to provide for a clearing house between member banks. if the premise that the richmond fed stated is valid, then how did 1929 occur? the fed did not pre-empt the depression because it had no standing at that time to do so.... the powers of the fed have been expanded political during the post war era.