Hnery C.K. Liu
Brad De Long wrote:
> >There are many details that suggest that the Federal Reserve isn't really
> >part of the U.S. government. There's the fact that the USG sold the land
> >for the Fed's headquarters to the Fed back in the 1930s. Then there's the
> >fact that the New York Fed is listed in the white pages, not the blue
> >government pages, in the Manhattan phone book. Then there's the .org suffix
> >the regional Fed banks use for their websites, rather than .gov. And now,
> >in looking at the federal budget accounts, I'm seeing that the Fed is
> >classified as part of the "public," rather than the government, when the
> >holders of U.S. government debt are broken out. No wonder Alan Greenspan
> >can't understand himself!
> >
> >Doug
>
> If it's private, then why does it pay 90%+ of its interest income back to
> the Treasury?
>
> Brad DeLong