Federal Reserve New Role – Sugar Daddy
September 17, 2008 2 Comments
Andrew Horowitz over at moneycentral.mns.com writes an interesting article on the new role of the Federal Government.
Calling them a sugar daddy, he isn’t to keen on the Fed’s bailing out large failing corporations at the expense of taxpayers because of bad financial decisions and risking investments. For a money manager I am surprised Mr Horowitz lumps the Federal Reserve as the US government when the former is a distinct separate entity from the US government controlling the monetary system. No wonder taxpayers monies are used to bail out these companies. Americans are tax heavily enough! There’s enough dough coming in!