The Fed

Reader comment on: The WSJ, Obama, and Bankers

Submitted by Lyle (United States), Dec 15, 2009 23:08

We tried an 80 year experiment with no central bank and it did not work out very well. (Towards the end J.P. Morgan was the defacto central bank, and had to bail the gov out in the 1880s and put together a bail out in 1907). This latter was the event that caused the re-creation of the central bank in the US.

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