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Feb. 1, 2012

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Without the Fed our economy would still be fighting its way out of a depression if it weren't for the Fed's action in 2008 as Coolican pointed out. The Fed may not be the solution to combating economic issues in our economy (responsibility, rather, is key), however in recent years the Fed has done more good than bad. Ending the Fed now might be good policy, but who is to say that banks will hold themselves accountable in the future for handing out loans to people unable to pay them back? The Fed acts as a stabilizing hand and keeps our economy in check in times of economic strife. Paul's argument for ending the Fed only holds if we can trust banks and corporations to be responsible for their decisions. It is common knowledge that government or the Fed's intervention in economic matters causes inefficiency in our economy. The solution here would be to limit the Fed's power and only use their remaining power in times of economic disparity. A true laissez-fair system would be best if we can trust individuals to be responsible, as the economy would regulate itself to efficiency. It is difficult to decipher what the right policy would be going forward as the economy is still struggling.

(Suggest removal) 2/1/12 at 5:17 a.m.

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