The Federal Reserve

A lot of what has been dominating the news media recently has to do with the financial crisis of 2008, and how it is still effecting our economy and job markets today. An institution that has a significant influence over where our money is allocated, the decision to buy up Fannie Mae and Freddie Mac, and other major financial decisions in this nation come directly from The Federal Reserve. In fact, the FED is what controls, regulates, and overseas the United States' banking system. Each dollar we hold in our hand is what's known as a Federal Reserve Note, a debt that is owed to the FED by the U.S Treasury.
In order to discern the news and attain a basic understanding of business and regulation in this country, one must become acquainted with the Federal Reserve, its roles, and how this institution affects our lives, much like the role of the government.

The current Chairman is Ben Bernanke who achieved his Ph.D in Economics from MIT. His thesis was titled, ""Long-term commitments, dynamic optimization, and the business cycle" - relating to the Great Depression and its causes. (source)

Below is a video that explains how the Federal Reserve came into existence, and how it operates our financial system.



Texas Congressman, Ron Paul speaks on the Fed. Reserve and the current crisis: