S10 MyCh14C - Chapter 14 (Continued ) The American...

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Unformatted text preview: Chapter 14 (Continued ) The American institutions for monetary control Rules versus Discretion 1 The American institutions From the very beginning, there were 2 US schools of thoughts 2 The American institutions From the very beginning, there were 2 US schools of thoughts A central bank was favored by Morris and Hamilton but 3 The American institutions From the very beginning, there were 2 US schools of thoughts A central bank was favored by Morris and Hamilton but opposed by Jefferson and Jackson 4 The American institutions From the very beginning, there were 2 US schools of thoughts A central bank was favored by Morris and Hamilton but opposed by Jefferson and Jackson Obama nominated Bernanke at the Rose Garden praising his knowledge and skill, preventing a 2 nd Great Depression 5 The American institutions From the very beginning, there were 2 US schools of thoughts A central bank was favored by Morris and Hamilton but opposed by Jefferson and Jackson Obama nominated Bernanke at the Rose Garden praising his knowledge and skill, preventing a 2 nd Great Depression Congressional critics complain the un-elected Fed engaging in costly bail-out, favoring European banks in saving A. I. G. 6 Congressional critics complained that Bernanke was both ineffective in regulating banks before the crisis 7 Congressional critics complained that Bernanke was both ineffective in regulating banks before the crisis and wasteful in bailing out the Wall Street Banks for Big Corporations 8 Congressional critics complained that Bernanke was both ineffective in regulating banks before the crisis and wasteful in bailing out the Wall Street Banks for Big Corporations but not the Main Street Banks for SMEs that create jobs 9 Congressional critics complained that Bernanke was both ineffective in regulating banks before the crisis and wasteful in bailing out the Wall Street Banks for Big Corporations but not the Main Street Banks for SMEs that create jobs Suggestions - 1) Create new regulation Czar, outside the Fed 10 Congressional critics complained that Bernanke was...
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S10 MyCh14C - Chapter 14 (Continued ) The American...

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