Rep. Alan Grayson: “Has the Federal Reserve Ever Tried to Manipulate the Stock Market?”

This is Rep. Alan Grayson asking Federal Reserve General Counsel Scott Alvarez about the Fed’s independence.


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  1. This is Rep. Alan Grayson asking Federal Reserve General Counsel Scott
    Alvarez about the Fed's independence.

    "I would like to know whether it is within the Federal Reserve's legal
    authority to try to manipulate the stock market or the futures market."
    By far the most entertaining and cogent portion from today's hearing on Ron
    Paul's HR 1207, as Alan Grayson questions Fed general counsel Scott
    Alvarez. Turn up the volume because the questioning starts immediately. http://dailybail.com/home/alan-grayson-asks-fed-g
    

    Reply
  2. Bourgeoisie Liberal · Edit

    You know, The US only saw three major banking crises after the
    establishment of the Fed (Great Depression, S&L crisis, 2008 financial
    crisis) and only two since the creation of federal deposit insurance
    compared to one about every decade prior to that. The FED brings stability
    and flexibility to our currency.

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  3. I agree. We need more politicians that are centerline and discuss issues.
    "Extremists have no place in a civilized world." – Anonymous

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  4. Grayson is against the Fed, but he's a socialist. The European model of
    social democracy is better than that of the U.S., in that they let the
    government do what the people want done, instead of having the government
    grant a monopoly to one firm who will take care of it for a cheap profit
    without having to compete in the market to earn it. However the morally and
    rationally corrupt idea that the people, like petulant children, deserve
    stuff for free in exchange for tears is the same.

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  5. I couldn't agree more. But the fact remains that Rep. Grayson needed to
    clarify what he means by "manipulating the market" as the witness
    requested. Does he mean to ask if the Fed trades stocks, long or short, in
    an effort to move a particular market or the market in general? Does he
    mean do they adjust interest rates in an *attempt* to move the market one
    way or another? Adjusting rates inevitably does have an effect on markets,
    of course. Is that what he meant by "manipulating'?

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  6. Why don't they broadcast any hearings where these guys are compelled to
    tell the truth, answer the questions, or be held in contempt? I'd love to
    see them be hauled out of the room by a bailiff and put in a holding cell.

    Reply
  7. Christopher Horvath · Edit

    @deeppurple28 Remember Madoff is a democrat. And try stating something
    based on actual information instead of senseless rants and insults. To
    illustrate the potential effects of tax rate cuts on tax revenues consider
    the example of Russia. Russia introduced a flat 13 percent personal income
    tax rate, replacing the three tiered, 12, 20 and 30 percent previous rates
    (as detailed in Ivanova, Keen and Klemm, 2005). The tax exempt income was
    also increased, further decreasing the tax burden.

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  8. @bassefa1984 i don't think that would accomplish anything. i think Grayson
    is asking all the right questions and getting stonewalled.

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  9. It is interesting to me that everytime Grayson has these schmucks on the
    ropes and has a chance of getting some real truth, he runs outta time. Give
    him the time Grayson needs to get the answers!!! The people will rise up
    and demand to stop this corruption!

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  10. It was a word play on the fact that no action would result to death. Fuck
    with political correctness, it has ruined this world long enough.

    Reply
  11. Rep. Grayson's unwillingness or inability to define what he means by
    "manipulating the market" by citing an example as requested by the witness
    shows the weakness of democratic government. So often I wince at the
    insipid questions asked by Congressmen at such hearings and wonder how such
    mediocre minds can get elected (or, in this case, can graduate from Harvard
    Law School. Mr. Alvarez could not answer such a question without
    clarification.

    Reply

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