Real Clear Politics
WASHINGTON -- Among the cherished prerogatives of members of Congress is the right to second-guess. That ritual is now playing itself out with a vengeance as the solons of Capitol Hill attack the Federal Reserve for its role in last year's
The Fed made its share of mistakes in creating the bubble economy. But once the crisis hit, it was the Fed's innovative, try-anything response that saved the country from what might have been another Great
In June 2008, the International Banking Community all agreed to BASEL II, the transparent Books of each Nation. Every Nation agreed and did so by the August 1st deadline, except the Federal Reserve. The USA was given an one month extension till September 1st. It was then that Bush declared a crisis on September 12th, with the federal reserve not to this day revealing their books and Congress in their infinite wisdom has gutted Doctor Paul's Audit the Fed Bill.
For a clear picture of what has happened since 1913 in USA, see this video:
America: Freedom to Fascism