Dear Mr Fettig
I have read with interest your 2008 article on FRB 13.3.
Now I learn via Australian economist Professor Steve Keen that this provision was scrapped under the Dodd-Frank Act, allegedly in response to lobbying by commercial banks.
Can you provide any background information to this decision, and whether indeed it is now no longer possible for the Federal Reserve to assist individuals and businesses with direct credit?
Yours faithfully
I have read with interest your 2008 article on FRB 13.3.
Now I learn via Australian economist Professor Steve Keen that this provision was scrapped under the Dodd-Frank Act, allegedly in response to lobbying by commercial banks.
Can you provide any background information to this decision, and whether indeed it is now no longer possible for the Federal Reserve to assist individuals and businesses with direct credit?
Yours faithfully
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