U.S. Senate candidate Dr. Murray Sabrin on the government's latest power grab:
In what can only be described as a bad April Fool's Day surprise, the Treasury Secretary of a Republican Administration is proposing to begin "socializing" our capitalist system. Secretary Paulson is announcing today his plan to give the Federal Reserve more power and control over our economy. This is the same Federal Reserve whose loose monetary policy from January 2001 to January 2004 created the current housing bubble by lowering the federal funds rate from 6.5% to 1%. This is the same unaccountable monopoly that created bubbles in the 1920s, 1960s, 1970s, 1980s, 1990s and now in the first decade of the 21st Century by injecting "new money and credit" into the economy.
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