The Federal Reserve is about as federal as Federal Express. They perform several services that should be the perview of the federal government, but they are contracted to perform these services, printing money, but not minting money, being among them. But still a private company whose origin is the result of federal charter but whose power comes from being the clearinghouse for all member banks for which they are the source of currency.
The treasury department's primary purpose is to recieve and account for debts, taxes and fees owed to and owed by the government of the united states.
For the past thirty years the head of the federal reserve has been an academic economist, typically of some conservative flair, but not without standing or credibilityor a "civil servant" who has worked in NGO's, regulartory agencies or quasi governmental agencies. During this same period the head of the treasury has been a banker, money manager or finacier....
Doesn't it seem like this should be reversed? Why is Paulson, the former head of Goldman Sach running the treasury, presumably directing the method by which goverment revenue should best be collected and accounted for and Greenspan, the Objectivist pure intellectual is the head of the banking system?
Minion...I asked you a question. Why?
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