CZAR

Anyone who doesn't believe that the The Federal Reserve is moving for one world dictatorship had better open at least one blind eye to see the obvious. Some know that The FED is a private bank, it's more accurate to say cartel of banks. The owners are themselves banks and the wealthy families that own those banks, who by the way don't care about you. We don't know the exact owners because like everything else about the FED it's secrete. The most that's known is what they say they said five weeks after they said it when the FED releases the minutes of their meeting. Now the FED offers up a solution by making itself bank dictator and by extension dictator to us all.

The Federal Reserve could become the supercop for "too big to fail" companies capable of causing another financial meltdown under a proposal being seriously considered by the White House.

The Obama administration told industry officials on Friday that it was leaning toward making such a recommendation, according to officials who attended a private one-hour meeting between President Barack Obama's economic advisers and representatives from about a dozen banks, hedge funds and other financial groups.

How nice and right in keeping with it's usual M.O., the FEDs man in Treasury,
leads the charge in the White House to make the FED regulator to all the banks.

Treasury Secretary Timothy Geithner and other officials made it clear they were not inclined to divide the job among various regulators as has been suggested by industry and some federal regulators. Geithner told the group that one organization needs to be held responsible for monitoring systemwide risk."

Committees don't make decisions," said Geithner, according to one participant.

No Tim dictators do, committees and democracies are messy, but Tim terrific cracking voice and all now has the balls to put the banks in charge of regulating the banks. You have to wonder what they have against Stephen Friedman unless the mess there became unsightly for polite folks who put the strangle hold on your money.

The chairman of the Federal Reserve Bank of New York resigned Thursday, days after coming under attack for his continuing involvement in a company regulated by the institution.

Stephen Friedman received a waiver to remain on the board of Goldman Sachs (GS, Fortune 500), the Wall Street firm that became a bank holding company amid September's financial frenzy, according to a report in the Wall Street Journal on Monday. He also holds a substantial amount of shares in the company and continued to buy more even after Goldman came under the Fed's supervision.

But the FED is involved with the banks it proposes to regulate solely, it's owned by them. So here comes the M.O. again: instead of being content with Friedman taking a walk it proposes to via Tim to make itself czar.

"Today, although I have been in compliance with the rules, my public service motivated continuation on the Reserve Bank Board is being mischaracterized as improper," Friedman wrote in his resignation letter. "The Federal Reserve System has important work to do and does not need this distraction."

Distracted, but undeterred Stephen. The MO continues the FED put all the FEDsters in charge of all the banks and all is well, but only for the well off.