Salient to Investors:
The Fed’s structure has its origins in efforts to find a balance of power between politicians in Washington, representing farmers and small businesses, and Wall Street financiers.
Professor Allan Meltzer said the Fed’s image problem has been there for 100 years – Congress reduced the role bankers play on reserve bank boards in the 1930s, 1970s and with Dodd-Frank Act of 2010.
Read the full article at http://www.bloomberg.com/news/2012-06-19/fed-born-of-morgan-s-bailout-under-scrutiny-after-dimon-s-loss.html