Amazon.com Widgets

Should the U.S. Government take away the Federal Reserve and FDIC's power to regulate banks and move it to a new federal bank regulator?

  • The U.S. needs to move off of the privately owned Federal Reserve and FDIC system entirely, this would be a necessary first step.

    Yes there would be disruption, but obviously the new system would be designed for some time before implementation. The US debt is owned by entities outside of the country who are not interested in the individual American. The new system would have a new regulatory body like the FDIC and a new body that issues money like the Federal Reserve. The difference being that the U.S. Debt would be owned by the nation. It's like you took out a loan and a portion of your earnings goes to paying the bank back with interest. It is out of your pocket into a separate entity. That is what is happening to the U.S. When it borrows money. The Federal Reserve and the FDIC are NOT American government agencies. They are branches of privately held banks headquartered I believe in London, UK. Your money is being siphoned out of your country.

  • A new federal bank regulator might be able to better focus on important issues that don't seem to get taken care of. Perhaps they have too much on their plate already and minute details are falling through the cracks.

    The Federal Reserve and the FDIC are not doing a good job of regulating financial products even though they have had the authority to all this time. Perhaps it is time for someone new to step in and evaluate the problems that are not being addressed. They have had ample time to do their jobs and if they haven't by now perhaps they should have that power taken away or at least re-evaluated.

    Posted by: babiblu3
  • The FDIC has done a deplorable job of regulating banking and it's high time another entity be put into the position to safeguard our money.

    There have been hundreds of banks that have closed over the past year and the trend continues to plague the nation. The corporate giants realize financial benefits from the decision-making authority while small businesses and individuals realize nothing but loss. We have allowed this to take place and now is the time for Americans to come together to demand a better way to safeguard our financial interests.

    Posted by: bandita
  • I think that if you take away the Federal Reserve and the FDIC it will be a bad idea, because nothing would be improved with the effort.

    Even with the most recent downfall of the banking system, I feel that removing it and replacing it with another regulation will just make more work and be just as effective. I think we need to keep what we have, and make improvements to make it better.

    Posted by: Ch3IGod
  • Yes, because I feel that, within recent years, the Federal Reserve and FDIC have proved to be inefficient.

    In 2008, several banks failed and the value of the dollar went down. The FDIC took over these banks and were not able to stop the plummeting dollar. Now in 2010, there have been massive amounts of spending to procure banks. The money simply is not there to be spending it this way.

    Posted by: M McClure 72
  • The recent financial crisis proved that the current regulators are not adequate.

    As the regulations on financial institutions have relaxed in recent years it has shown that they will take advantage of the situation if they can. The pirates are pillaging the treasure and someone needs to stop them. More and tighter regulation is definitely needed.

    Posted by: elguisante2
  • Yes, the forces at work here which are outside the United States have nothing but their own, greedy financial interests in mind.

    As of the time I'm writing this, 9/8/2014, the tally on this board is 67% NO, 33% YES. The uninformed American's knowledge is monumental.
    Recap - Since the Fed was formed in 1923, the USD has lost 94% of its value - say that again - LOST 94% of its value. Any wonder how a once rich country has become an 18 Trillion dollar debtor, soon to be a deadbeat? This system has been designed to keep the US in debt til the end of time. It is not even a branch of our government, but a private enclave (yes, private - as in secret shareholders) who you DON'T have a right to know who the players are. Now do you see why a basic such as health care is losing our grasp, along with a middle-class standard of living. We had better wake up real fast, unless of course we are awake and all you sheeple are engrossed in Facebook and Twitter, while your country's strength and your children's future is being destroyed. Exactly who are the people who loan the US Govt. Money - don't you think you have a right to know? These unnamed people and forces are regulating you to financial collapse (which is part of the grand plan).
    Wake up....

  • Yes, the forces at work here which are outside the United States have nothing but their own, greedy financial interests in mind.

    As of the time I'm writing this, 9/8/2014, the tally on this board is 67% NO, 33% YES. The uninformed American's knowledge is monumental.
    Recap - Since the Fed was formed in 1923, the USD has lost 94% of its value - say that again - LOST 94% of its value. Any wonder how a once rich country has become an 18 Trillion dollar debtor, soon to be a deadbeat? This system has been designed to keep the US in debt til the end of time. It is not even a branch of our government, but a private enclave (yes, private - as in secret shareholders) who you DON'T have a right to know who the players are. Now do you see why a basic such as health care is losing our grasp, along with a middle-class standard of living. We had better wake up real fast, unless of course we are awake and all you sheeple are engrossed in Facebook and Twitter, while your country's strength and your children's future is being destroyed. Exactly who are the people who loan the US Govt. Money - don't you think you have a right to know? These unnamed people and forces are regulating you to financial collapse (which is part of the grand plan).
    Wake up....

  • Give me one good:

    suggestion as to what you would replace the Fed with? What would the charges of this new body be? What powers would they have? Who would they be accountable too? I read and hear all these people saying we need to abolish the Fed, but then what?????

  • The Federal Reserve and FDIC have many years of experience in regulating banks, and it would not be wise to start fresh with a new agency.

    While the Federal Reserve and the FDIC are not perfect, they do have many years of experience in regulating banks. The FDIC has done an excellent job of transitioning banks that have failed to new banks, so that customers are not harmfully affected. Starting with a new agency would probably be more harmful, rather than doing good.

    Posted by: ddeathnote
  • I oppose a new regulatory commission for banks because there's no guarantee it would work either.

    If the current regulatory authorities didn't succeed in babysitting the bank industry before the financial meltdown, why should anyone believe that a new branch of government will do better? The bubble and burst were a national failure, ranging from corporate misconduct, to congressional oversight, to individuals taking loans they had no business getting involved in.

    Posted by: FlakyHerb64
  • I disagree, because I think the FDIC and the NCUA are awesome protectors of money.

    The government has its own problems, and putting them in charge of our money is a bad idea. FDIC worked out well with the collapse of Fannie and Freddie, back in 2009. If the government cleans house and takes over, you can kiss everything you have in the bank goodbye. The government doesn't have a good track record when it comes to money.

    Posted by: BoundlessHomer49
  • The Federal Reserve may not be perfect, but it's hardly the worst part of the problem.

    I see no benefits to creating a new federal banking regulator. While I don't always agree with the actions of the Federal Reserve, I think that establishing new leadership would be a sufficient step to make it a more effective institution. There's no need to create a new organization like that.

    Posted by: LivingJimmy
  • The government should not take away the Federal Reserve or FDIC's power, because I think a new bank regulator would only cause more aggravation, at this time.

    Large banks today are so corrupt, and they need some type of policing. The government may not have the ideal policies and solutions, but at least there are some rules. I think a new bank regulator would only cause more aggravation, at this time. We need to straighten out the economy before any such decision could be made.

    Posted by: l0nerkatz999
  • The U.S. Government should not take away the Federal Reserve and FDIC's power to regulate banks and move it to a new federal bank regulator, because the Federal Government is notoriously poor at regulating business.

    The U.S. Government should not take away the Federal Reserve and FDIC's power to regulate banks and move it to a new federal bank regulator, because the Federal Government is notoriously poor at regulating business. The recent housing bubble is a good example of Federal Government efficiency. In the 1990's, regulations were relaxed, so that everyone could have the American dream of owning a home. Down payments were lowered and income requirements were lowered. People who couldn't afford a mortgage got a mortgage, and now millions of mortgages are in default. The Federal Government should stay out of business and allow banks to decide who is eligible for a loan, and then let the banks suffer the consequences.

    Posted by: JamieM
  • I see no reason to scrap the whole system, which would cause unnecessary disruption, when changes could be made to the current Reserve and FDIC.

    While I think financial reform and regulation is important, I do not see any reason to scrap the whole Federal Reserve system and the FDIC. I am not aware of any major problem with the FDIC. The Federal Reserve could be reformed somewhat, but this could be accomplished with new regulations or by changes in leadership. Scrapping the whole system would cause disruptions and costs, which I do not think are worth it.

    Posted by: tacomoon
  • While I am no fad of the Federal Reserve or the FDIC, I do not believe that stripping away their power and creating a new bank regulator would make things any better.

    There has been a desire, at times, to penalize these two agencies for not preventing the bank crisis. Yet there is the truth that for the most part these agencies have served their purpose well to stabilize the banking system.
    And, it appears to me that strengthening them and regulating them more might in the long run be better than starting to use something that may or may not be beneficial.

    Posted by: SportyHart
  • No, creating a new way to regulate things will only make it more confusing and make more work.

    There are far too many government organizations out there as it is. It is too difficult to keep track of who is doing what, and adding another branch to this will only add more confusion, more bureaucratic red tape. Keep things as they are now, just pay more attention to what is going on. Fix what is wrong now, don't just make a new way to do the same thing. You don't throw out your checkbook and start over if you can't balance it, don't try to fix things by replacing it while the original is still capable.

    Posted by: PinkMych

Leave a comment...
(Maximum 900 words)
No comments yet.