Oligarchy? Or Kleptocracy? You decide! (1)
The Fed is well aware that their actions have taken policymakers to a place where no respectable central banker wants to tread. They are clearly worried about the risks to monetary independence from their response to the crisis, and rightfully so. I hope too that they are worried about the precedent that we should accept the Fed as an informational black hole in return for Federal Reserve Chairman Ben Bernanke's commitment to ensure the trains run on time. Butier is right - such a precedent damages the democratic process, and is a high price to pay.
Who said our central bankers were respectable?
And who said they were independent? If you want to see who's running the show, follow the money: The banksters are getting trillions of dollars, from us, with no accountability for the crisis they created, and no transparency in what they did with our money they looted NOW NOW NOW. That tells you the banksters are running the government and the Fed. Right?