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06/30/2004 Archived Entry: "Questioning the Fed"

SPEAKING OF QUESTIONING EVERYTHING ... if insurors were meeting to fix policy prices ... or if computer makers were meeting to set wholesale costs for their equipment ... we'd all be howling "Price fixing!" The media would wring its collective little hands in horror. Several federal agencies would be rubbing their hands in glee, contemplating billion dollar fines, criminal indictments, long prison sentences and lots and lots of favorable publicity for the crusading regulators and prosecutors. So how come when it's the Federal Reserve meeting today to fix the price of money -- something much more fundamental to the health of our society -- nobody but us wing nuts can work up a lather about the notion?

Posted by Claire @ 12:18 PM CST

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