2007-04-24 00:17:00 · 9 answers · asked by Anonymous in Entertainment & Music ➔ Polls & Surveys
Don't say it's the government.
"The Federal Reserve Banks are owned by private member banks" -wikipedia
http://en.wikipedia.org/wiki/Federal_Reserve
2007-04-24 00:21:43 · update #1
The fact that the United States Federal Reserve Banks are private (corporate) owned explains a lot, don't you think?
2007-04-24 00:27:19 · update #2
To get a clear and complete understanding, you should read the rest of the wiki article.
To summarize:
The Federal Reserve System is organized with a government agency at the top (the Board of Governors), and branches beneath them that resemble private corporations. (http://www.federalreserveeducation.org/fed101/structure/ )
The Board of Governors are all appointed for 14-year terms by the president and confirmed by congress. It operates per it's charter and laws set by congress. it is overseen by congress. ==> There is no structure or mechanism for private ownership of this governing body. <== In fact, board members are forbidden by law to have any economic interest in a private bank.
The 12 branches, however, are organized similar to private corporations. Member banks are required to buy shares in their branch. They can vote for 6 of their 9 board members with final approval from the Board of Governors. The shares get a standard 6% dividend. These shares cannot be sold on the open market. All 'profit' from the Federal Reserve branches are turned over to the Treasury at the end of the year. (that's been about 95% since 1913). Are the Fed branches privately owned? The Fed says 'No' (ref http://www.federalreserve.gov/generalinfo/faq/faqfrbanks.htm#6 ). Courts have ruled that it can be treated as a private corporation for purposes of tort law.
2007-04-24 01:33:22 · answer #1 · answered by gray shadow 6 · 1⤊ 0⤋
The federal government. Specifically, Department of the Treasury.
2007-04-24 07:20:47 · answer #2 · answered by jamsie 4 · 0⤊ 1⤋
The Treasury of the Federal Government: therefore YOU!
2007-04-24 07:21:03 · answer #3 · answered by Bart S 7 · 0⤊ 1⤋
The government
2007-04-24 07:19:45 · answer #4 · answered by Anonymous · 0⤊ 1⤋
The Govt.
The treasury Dept
2007-04-24 07:26:11 · answer #5 · answered by Mmmmm 7 · 0⤊ 1⤋
The government:so in fact :all of you.
Sky
2007-04-24 07:19:50 · answer #6 · answered by Anonymous · 0⤊ 1⤋
congress and senate controls what can be done with it so they do
2007-04-24 07:22:14 · answer #7 · answered by toshida t 2 · 0⤊ 1⤋
goverment
2007-04-24 07:19:18 · answer #8 · answered by amberharris20022000 7 · 1⤊ 1⤋
the u.s.government. in theory, all of us, lol.
2007-04-24 07:20:50 · answer #9 · answered by Anonymous · 0⤊ 1⤋