What is Federal Reserve?
1.
neither federal nor reserved
the federal reserve is to the great depression, current credit/liquidity crisis, sharply falling dollar, inequitable global landscape, and social political and economic instability as mother is to her child.
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2.
Institution that caused the great depression.
The Federal Reserve loaned out extra lines of credit to lower banks and those banks loaned out the extra credit to the people. In Capitalism there wouldn't be extra money given to banks to loan out. The banks would restrict credit and the business cycle would stablize itself.
When the economy turned bad starting in the mid 1920s people couldn't pay back all of their credit, banks lost money and failed, and the Great Depression started.
Thanks to socialist institutions like the Federal Reserve, we entered the Great Depression, only to be saved by the capitalistic industrialists of the WWII era
3.
What Madoff could have been if he could print his own currency
Person # 1: "Yo man that Madoff scam collapsed in a jiffy didn't it!"
Person # 2: "yeah dude...too bad he couldn't just print his own money like Ben Bernanke can at the Federal Reserve!!!! He would be home free!"
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4.
THe instution that allowed a stock market crash, that was expected to be another recession to turn into a depression. Bywhich should of added more money into the economy to stimulate spending, growth and eventually decrease unemployment. Failing to do this, the money supply in the banks fell short of expections, which caused a run on the banks. Which then further worsened the crisis.
The Federal Reserve controls interest rates to loans given out to banks, in order to control the money supply.
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5.
The central bank of the United States of America that was founded by Congress in 1913. It is responsible for supervising all bank and credit organizations in the U.S. (both private and public), enforcing credit law, forming U.S. monetary policy, providing financial services to the U.S. government and foreign banking systems, and most importantly, avoiding inflation and depression by controlling U.S. interest rates.
Alan Greenspan has been the chairman of the Federal Reserve for a long time, changing interest rates on many occasions.
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