zanardm

Excessive Systemic Debt: The Primary Cause of Our Current Crisis

Neither Congress, new or old adm, nor the Fed, can say no to more debt, the cause, not the solution, to our current private sector deleveraging environment. The Fed is critical, and must be re-structured now as an Advisory Council of 5-7 economists in lieu of just a Fed chairman. This could be somewhat modeled after the ECB; en.wikipedia.org/wiki/... . Command and control of the money tree is too important to be entrusted to one or two. Such Advisory Council would have open voting, with the majority deciding; all minutes would be open, and dissent would be encouraged. Will Congress investigate the current Fed and it's loose actions; might even a Grand Jury be required, if all accounting is not legal etc.?