The Fed takes over the entire financial industry, and as usual, the WaPo neglects the role of special interests. Ever since the Fed was planned by the Morgan, Rockefeller, and Warburg banks, it has served special private interests. But like all state institutions, it is fundamentally stupid. We can bet that Wall Street investment banks are driving this latest expansion of state power, to their and the atate's benefit, and to the detriment of the rest of us. For more on the history of the central bank, see Rothbard (of course). And like all Mises Institute books, it's even 15% off until the end of the month. (Thanks to Heidi Wyss.)
