Lol, Brad Sherman is my representative. He was outrageous on The Colbert Report, especially with regards to our infamous porn industry in Chatsworth.
This makes me want to learn economics. But I know I'll die if I tried. But I want to understand what the fuck is going on here. Maybe someone should tell Timmy Geithner to explain his plan in layman terms.
That, and I like his dorkish appeal. Him and Orszag. Talk about dorks and geeks.
The 12 Federal Reserve banks provide the financial means to operate the Federal Reserve System. Each reserve bank is organized much like a private corporation so that it can provide the necessary revenue to cover operational expenses and implement the demands of the board. Member banks are privately owned banks that must buy a certain amount of stock in the Reserve Bank within its region to be a member of the Federal Reserve System. This stock "may not be sold, traded, or pledged as security for a loan" and all member banks receive a 6% annual dividend.[30] No stock in any Federal Reserve Bank has ever been sold to the public, to foreigners, or to any non-bank U.S. firm.[32] These member
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This makes me want to learn economics. But I know I'll die if I tried. But I want to understand what the fuck is going on here. Maybe someone should tell Timmy Geithner to explain his plan in layman terms.
That, and I like his dorkish appeal. Him and Orszag. Talk about dorks and geeks.
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YEP THATS NEWS.
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It's an independent Government Institution. It HELPS to regulate the finance and banking industries.
http://en.wikipedia.org/wiki/Federal_Reserve_Corporation
The 12 Federal Reserve banks provide the financial means to operate the Federal Reserve System. Each reserve bank is organized much like a private corporation so that it can provide the necessary revenue to cover operational expenses and implement the demands of the board. Member banks are privately owned banks that must buy a certain amount of stock in the Reserve Bank within its region to be a member of the Federal Reserve System. This stock "may not be sold, traded, or pledged as security for a loan" and all member banks receive a 6% annual dividend.[30] No stock in any Federal Reserve Bank has ever been sold to the public, to foreigners, or to any non-bank U.S. firm.[32] These member ( ... )
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