Jim Devine wrote: > > > at least there is some countervailing power from Congress, so that it > does not represent banking & finance interests alone the way the Fed > does. ****The Fed is also much more secretive.*****
I would say this is a significant difference, along with the smaller size of the Fed board. Were the Fed public as is (much) of Congress, and with simply more people on it, such epochal events as the appointment of Volcker would receive some messy public discussion. This would be of assistance to those trying to build non-electoral forms of political power (the only kind that, on the whole, is relevant to the left. Electoral activity is only of interest insofar as it is subordinate to and contributes to non-electoral power. Carrol _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
