Fed not part of gov't

Doug Henwood dhenwood at panix.com
Thu Feb 11 20:23:08 PST 1999


Brad De Long wrote:


>If it's private, then why does it pay 90%+ of its interest income back to
>the Treasury?

Talk about a divorce between ownership & control, then: the collector of all the dividends has no voting power, and management decides just how much it feels like turning over.

Doug



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