Your first paragraph is just flat wrong. I know quite a bit about the Fed, and I'd like you to cite your source on both the "public-private hybrid" part and the

Your first paragraph is just flat wrong. I know quite a bit about the Fed, and I'd like you to cite your source on both the "public-private hybrid" part and the "purely symbolic" part. Neither are true, unless you consider 6% of trillions and trillions (after expenses) "purely symbolic". I have no idea where you get the hybrid part. No government owns shares of the fed. Also, for your information, the GAO audits are anything but accountability. After finally getting the GAO audit part passed in 78 there were so many limitations on thier audits as to make them so piecemeal they are more of a rubber stamp than anything. (Not to mention a few times when it got out the Fed destroyed source documents) Don't call something a common misconception when you don't have a more solid understanding of the subject please. The common misconception is that they are federal, not the other way around.