Monday, December 09, 2013

FRB 13.3 and Dodd-Frank : an email to the Federal Reserve Bank of Minneapolis

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

All original material is copyright of its author. Fair use permitted. Contact via comment. Unless indicated otherwise, all internet links accessed at time of writing. Nothing here should be taken as personal advice, financial or otherwise. No liability is accepted for third-party content, whether incorporated in or linked to this blog; or for unintentional error and inaccuracy. The blog author may have, or intend to change, a personal position in any stock or other kind of investment mentioned.

No comments: