Reply #16: Ron Paul is not my friend

[PETRUS]

And I'm a far cry from a libertarian, but the Fed is a problem. It is a public/private institution, and is not completely democratically accountable since the banks get to appoint a substantial number of the governors. (And the political appointees are from the biz, anyway.) It has a dual mandate to promote price stability and maximum employment, but has repeatedly shown preference for price stability (good for banks) over maximum employment (good for working folks). You won't hear me calling to "end" it, though - I'm not well informed enough to know if that's a good or a bad idea. But it - or its replacement - needs to be accountable to the people.