The Almighty Greenspan

Hail to the Chief, that is to the Federal Reserve. Federal Reserve Chairman Alan Greenspan has more power then our own President of the United States, yet he is not an elected official. The chairman of the Federal Reserve takes office by a Presidential appointment. To show how different the Republicans and Democrats are economically you can compare who each have appointed as chairman of the Federal Reserve, Alan Greenspan for both parties. Greenspan can manipulate the markets and control the consumer index, inflation, and the interest rate. In other words, he can single-handedly depress our markets or revive them. He can even offset markets abroad since other countries take interest on how our markets performs, some countries even invest in our market. You might say, "Genghis1227 is wrong, there are other people that must vote and determine the Reserves course of action." Well, I'm sorry to say that there may be no real voting going on. Heck, they are not a public institution, they are the Banker's Bank. You go ahead and try to get a loan from the Federal Reserve, or better yet, open an account. You can't. So why do we have the Federal Reserve? Come Back tomorrow for this 3 part series about the Federal Reserve and you will get your share of a history lesson.