Fed not part of gov't

Doug Henwood dhenwood at panix.com
Thu Feb 11 12:45:49 PST 1999

Rosser Jr, John Barkley wrote:

> In fact, technically and officially, the Federal
>Reserve System is owned by the "National Banks," which in
>turn are privately owned.

Actually I think it's just the regional branches that are owned by their member banks; the Board in Washington is supposed to be an agency of the U.S. government. Sort of.


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