"The Fed’s job, you see, isn’t to protect you and me and our retirement portfolios, or even many of the nation’s largest companies and biggest employers. The Fed’s job is to protect the financial system."
Though this may be only a thinly disguised MSM attempt to assure the masses that the FED is perfectly capable of putting the genie back in the bottle as the effect of the sub-prime meltdown spreads, let’s give Mr. Sloan credit for at least implicitly pointing out just who the FED really works for: itself.
Want to verify that statement? Get to get a copy of the JBS commissioned work: Creature from Jekyll Island: A Second Look at the Federal Reserve. ….