The unauthorized action taken by the Federal Reserve Bank last week to funnel hard earned taxpayer money to bail out a private Investment bank, Bear Stearnes, without the approval of our Congress just proves that they are incapable of overseeing anything justly.

Our President should stand up and condemm this action by the Fed. He should advise Congress to do their job of regulating our banking system themselves.

History will show that this age is the most shameful and greedy era.

We need a total rethink of who is in financial control of this country and how the creation of our money supply will be regulated in the future. This is not a job for the banking institutions but a responsibility of our ELECTED officials!

Richard, Suffield, CT, USA

What a stitch-up! The Federal Reserve, itself responsible for this deliberately orchestrated Depression, will be given the right to bail out the business owned by their investors on Wall Street,to insure that these investors, the same who own the federal reserve, NEVER lose money again, no matter how stupidly they invest. All their mistakes will be paid for by us, the taxpayers. The only agency with any true controls against the world banking mafia, will have its powers diminished. We lose our homes and our jobs so that the richest families in America can fulfill their EVIL dream of returning the world to a feudal system where only the rich will own property, and all the rest of us will become debt slaves for them to kiss or kill, as they will.

victor compton, Cherbourg, France

What a hoot.
Given that the current problems stem from the feds holding down interest rates too low for too long, and Greenspans support and praise for all and sundry financial instruments, the repeal of GS, which allowed banks to engage in activities where they clearly had no expertise, and the subsequently gobalisation of the extremely toxic output of all this nonsense, this additional power to the Fed is nothing more than putting the fox in control of the hen coup.
The Fed and its debt is not needed, it should be abolished.
Fractional lending, sweeps, non-banking system creation of debt/credit (money) needs control.
In short, a total A-Z rethink, - AND NOT BY BANKERS.

Eric stockholme, sheffield UK,