Posted: April 20th, 2022

Need help with some Econ Problems & Issues – Week 8/ Discussion 1

Question description

“Money and the Financial System”
—— Please respond to the following:
——
4 short but fascinating videos on President Andrew Jackson, as
well as various U.S. founding fathers, on fearing the actions
and corruptions of big bankers!!!  Sound familiar to today!!
1) President Andrew Jackson and Big Banks–sounds like today!!!)
–(from History Channel)- http://www.youtube.com/watch?v=Knf8KA5aAjw&feature=related 
2) (Also Thomas Jefferson)  — http://www.youtube.com/watch?v=3cnItVN1Gk0 
and

3) http://www.youtube.com/watch?v=H7yjfI19b7s 

4) ( from HBO film mini series on President John Adams– (Watch at
the dinner table–George Washington, Thomas Jefferson- who had just returned
from Paris, Alexander Hamilton, our first Secretary of the Treasury, and John
Adams) http://www.youtube.com/watch?v=UrxKOO0nKwc 

“Quantitative Easing”
Cartoon video 5 million hits on You Tube This You Tube Cartoon video has
had over 5 million hits!!!! Fortune magazine even had an entire article on
it–where they discussed people were learning economics by cartoon.
Quantitative Easing (“printing money” of Treasury/Fed)
Printing http://www.youtube.com/watch?v=PTUY16CkS-k Money http://www.youtube.com/watch?v=JKYHeXxsg6g 
and http://www.youtube.com/watch?v=BLrpg8Bya24 

“How Fed Works” cartoon video http://www.youtube.com/watch?v=Oe0fGXzKb1o&feature=related 

Robert Reich Facebook post Nov. 23.
2014 
Robert Reich
1 hr · 
On Friday, William C. Dudley, president of the New York Fed,
told Senators his examiners were “not like a cop on the beat” but “more like a
fire warden.” But the NY Fed is supposed to ensure Wall Street banks obey the
law, not put out fires after they break it. The Senators focused their ire on
the revolving door between the NY Fed and the banks (a former examiner now with
Goldman Sachs recently got confidential information from a former Fed colleague
about a pending investigation, for example). But the bigger problem is
presidents of the NY Fed, like Dudley, aren’t chosen by Congress or even by the
Federal Reserve Board in Washington. They’re chosen by the 9 directors of the
NY Fed, six of whom are elected by the banks they’re supposed to oversee. It’s
bad enough when foxes are in charge of chicken coops, worse when they’re in
charge of foxes.
Wall Street is once again out of control, the biggest banks
are bigger than ever, and their campaign contributions are preventing any
fundamental reform (the Dodd-Frank act has been watered down to cold soup). We
must resurrect Glass-Steagall and break up the big banks. But how do we get
this done?
***This is a DISCUSSION not a paper. Please NO
plagiarism. ***