3 ms·

They're not "the goobermint", so not FOIAble.

by bobmcnamara 2y ago

bix6 2y ago
Which is crazy as a quasi government agency supervised by a government agency.
- jfengel 2y ago
  Yeah, it's weird. More separation of powers stuff. The intent is to be insulated from politics but not entirely divorced from the will of the people. As Calvin said, a good compromise leaves everyone mad.
  - ynniv 2y ago
    The people have no will at the Fed
    - jfengel 2y ago
      The Fed chair is appointed by the President and confirmed by the Senate. It's arm's length, to be sure, but I don't think most people would want too much more direct involvement.
    - duped 2y ago
      The people, generally, have no understanding of monetary policy either in theory or practice. It's a good thing the Fed isn't at the beck and call of the people.
      - elzbardico 2y ago
        So, we surrender monetary policy to the bankers and just pray they don't do stuff on their benefit while fucking us? That's exactly how we got here, in the precipice of a financial crisis that everyone is pretending not to see so we can keep the ponzi scheme running a bit more. The people have no understanding of a lot of other stuff. That's why we use a REPRESENTATIVE democracy system, not a direct one. Is it perfect? not.
- Spooky23 2y ago
  Not really. It’s similar to a public authority. Owned and governed by the federal government, but somewhat insulated from the day to day. It makes sense. Just as you don’t want the state sweeping bridge tolls into the governments general fund, you don’t want the whims of the executive futzing with money.
- elzbardico 2y ago
  Basically by having an independent Central Bank, a country's people surrender their democratic power to determine monetary policy in favor of a cabal of bankers. The idea that the FED or any other "Central Bank" is an independent arbiter of money stuff in an angelical cloud is one of the most naive illusions they ever sold people. The only thing an independent central bank is independent from, is from the democratic will.
JumpCrisscross 2y ago
Congress literally exempted "information that concerns the supervision of financial institutions" from FOIA [1]. [1] https://www.foia.gov/faq.html https://www.foia.gov/faq.html
- bobmcnamara 2y ago
  Moot, because it also doesn't apply outside of federal agencies.

They're not "the goobermint", so not FOIAble.

bix6 2y ago

Which is crazy as a quasi government agency supervised by a government agency.

jfengel 2y ago
Yeah, it's weird. More separation of powers stuff. The intent is to be insulated from politics but not entirely divorced from the will of the people. As Calvin said, a good compromise leaves everyone mad.
- ynniv 2y ago
  The people have no will at the Fed
  - jfengel 2y ago
    The Fed chair is appointed by the President and confirmed by the Senate. It's arm's length, to be sure, but I don't think most people would want too much more direct involvement.
  - duped 2y ago
    The people, generally, have no understanding of monetary policy either in theory or practice. It's a good thing the Fed isn't at the beck and call of the people.
    - elzbardico 2y ago
      So, we surrender monetary policy to the bankers and just pray they don't do stuff on their benefit while fucking us? That's exactly how we got here, in the precipice of a financial crisis that everyone is pretending not to see so we can keep the ponzi scheme running a bit more. The people have no understanding of a lot of other stuff. That's why we use a REPRESENTATIVE democracy system, not a direct one. Is it perfect? not.
Spooky23 2y ago
Not really. It’s similar to a public authority. Owned and governed by the federal government, but somewhat insulated from the day to day. It makes sense. Just as you don’t want the state sweeping bridge tolls into the governments general fund, you don’t want the whims of the executive futzing with money.
elzbardico 2y ago
Basically by having an independent Central Bank, a country's people surrender their democratic power to determine monetary policy in favor of a cabal of bankers. The idea that the FED or any other "Central Bank" is an independent arbiter of money stuff in an angelical cloud is one of the most naive illusions they ever sold people. The only thing an independent central bank is independent from, is from the democratic will.

JumpCrisscross 2y ago

Congress literally exempted "information that concerns the supervision of financial institutions" from FOIA [1]. [1] https://www.foia.gov/faq.html https://www.foia.gov/faq.html

bobmcnamara 2y ago
Moot, because it also doesn't apply outside of federal agencies.