2 ms·

To be fair you are both right. The board of directors is appointed by government officials and the bank was established by the Federal Reserve Act. The bank i

To be fair you are both right. The board of directors is appointed by government officials and the bank was established by the Federal Reserve Act. The bank is also privately owned and not by any government. I learned this because a technology director at the Dallas bank works with me in our side job.

Latteland 8y ago
This is an interesting subject. The banks that work in each federal bank's district have to buy shares in the local federal bank but they don't come with voting rights. Can this be true that its kind of like being an owner of the green bay packers without voting rights? https://www.thebalance.com/who-owns-the-federal-reserve-3305974 https://www.thebalance.com/who-owns-the-federal-reserve-3305... and https://www.stlouisfed.org/in-plain-english/who-owns-the-federal-reserve-banks https://www.stlouisfed.org/in-plain-english/who-owns-the-fed...
pdonis 8y ago
> The bank is also privately owned and not by any government. Each of the Federal Reserve banks is structured on paper as a private corporation, yes. But the US government effectively controls what they do; the private corporations do not exercise any of the normal functions of ownership that other private corporations do.
- austincheney 8y ago
  Have you ever worked for the federal government? My part time job is military. The government in that case really controls what we do. At the federal reserve they aren't regulated as a federal employer or a federal agency.
  - pdonis 8y ago
    > Have you ever worked for the federal government? My part time job is military. I've done both. > At the federal reserve they aren't regulated as a federal employer or a federal agency. Not the same way, no. But that doesn't mean the Federal Reserve is not an instrument of government policy. It is.

2 ms·

To be fair you are both right. The board of directors is appointed by government officials and the bank was established by the Federal Reserve Act. The bank i

by austincheney 8y ago

Latteland 8y ago
This is an interesting subject. The banks that work in each federal bank's district have to buy shares in the local federal bank but they don't come with voting rights. Can this be true that its kind of like being an owner of the green bay packers without voting rights? https://www.thebalance.com/who-owns-the-federal-reserve-3305974 https://www.thebalance.com/who-owns-the-federal-reserve-3305... and https://www.stlouisfed.org/in-plain-english/who-owns-the-federal-reserve-banks https://www.stlouisfed.org/in-plain-english/who-owns-the-fed...
pdonis 8y ago
> The bank is also privately owned and not by any government. Each of the Federal Reserve banks is structured on paper as a private corporation, yes. But the US government effectively controls what they do; the private corporations do not exercise any of the normal functions of ownership that other private corporations do.
- austincheney 8y ago
  Have you ever worked for the federal government? My part time job is military. The government in that case really controls what we do. At the federal reserve they aren't regulated as a federal employer or a federal agency.
  - pdonis 8y ago
    > Have you ever worked for the federal government? My part time job is military. I've done both. > At the federal reserve they aren't regulated as a federal employer or a federal agency. Not the same way, no. But that doesn't mean the Federal Reserve is not an instrument of government policy. It is.