Word: feds
(lookup in dictionary)
(lookup stats)
Dates: during 1980-1989
Sort By: most recent first
(reverse)
...Fed is on its way to giving banks an invitation to shoot craps with the taxpayer's money." So said Michigan Democrat John Dingell, chairman of the House Energy and Commerce Committee, with a touch of hyperbole. The object of his barb: a Fed ruling last week that will permit five leading bank holding companies -- Bankers Trust New York, Chase Manhattan, Citicorp, J.P. Morgan and Security Pacific -- to buy and sell corporate bonds. The decision will enable the financial institutions to move, within strict limits, onto the turf of Wall Street firms, which have been encroaching on the banking business...
...Fed acted in part because Congress failed last year to pass legislation that would reform the 1933 Glass-Steagall Act, which erected walls between the banking and securities businesses. The landmark statute is widely viewed as outdated, but many legislators, including Texas Democrat Henry Gonzalez, chairman of the House Banking Committee, contend that the Fed has wrongly usurped congressional powers to oversee the banking industry...
...Some say the Fed adopted monetarism and decided to target control of the nation's money supply in order to keep hands off interest rates and duck the inevitable political criticism as rates rose...
...What should the President expect from the Fed, and what should the Fed expect from the President...
...What was remarkable is how little criticism ((of the Fed)) he had even in the midst of the election campaign. At one point he made some comments, which weren't all that devastating, about why the Federal Reserve didn't have to be as monetarist as they in fact were. And Reagan at the same time was criticizing us for being too easy. You know, some Democrats think we lost the election for Jimmy Carter. I've asked him about that. He never thought we were a net bonus to him. But I don't think he blames...