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Written by Allan H. Meltzer
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Tuesday, 01 September 2009 00:00 |
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This article is excerpted from July 9 testimony to the Subcommittee on Monetary Policy, House Committee on Financial Services. Thank you for the opportunity to present my appraisal of the administration’s proposal for regulatory changes. I share the belief that change is needed and long delayed, but appropriate change must protect the public, not bankers. During much of the past 15 years, I have written three volumes entitled A History of the Federal Reserve. I speak from that perspective. Two findings are very relevant to the role of the Federal Reserve. Read the rest of this article in our Archive (Members Only) or purchase this issue of Research Reports for only $2!
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