"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
Barney Frank's Latest Bad Idea
"Rep. Barney Frank (D., Mass.) wants to throw the presidents of the regional Federal Reserve banks off the Fed's policy-making arm. This is a terrible idea that would further politicize the central bank. It is also an idea that was explicitly rejected by the framers of the Federal Reserve Act a century ago—for good reason."
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