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Why the Fed Should Be Given More Powers

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THE ULTIMATE CONTRARIAN
"What these opponents [of a wider role in regulations for the Fed] have in common is that they miss the point," writes Roger Altman, chairman of Evercore Partners and former deputy US Treasury secretary under President Bill Clinton, in the FT. "Last year’s disaster made clear that system-wide regulation is mandatory. The Fed is the only qualified party." Ah yes, the winner by default argument: no one else can do it, so let's just cede the whole ball of wax to the Fed.
SOURCE:   Financial Times

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