The Federal Reserve Bank can Put America Back to Work!
How the Federal Reserve Can Put America Back to Work
In 2008, many of us learned from the bank bailout that the Federal Reserve Bank does not need the approval of Congress to loan money to banks.The working people of America are still suffering financially, emotionally and physically. One of the most capricious problems facing our nation today is the 3.7 million long-term unemployed. Within these ranks are many skilled and semi-skilled people that need and want jobs. After the Congress approved 800 billion in bailout money, the Federal Reserve loaned these banks an additional cool 1.5 trillion dollars for good measure. This all resulted in the big banks now rolling in billions and billions of profits. This is due primarily to the unprecedented reckless greed of the biggest financial institutions in our Country.The plan that I’m proposing that will put most of the long-term unemployed back to work is called “The Main Street Plan.” The focal point of it is for the Federal Reserve Bank to make available inexpensive money to member banks on the condition that this money be used for business growth and expansion in America. This money must include the hiring of long-term unemployed workers. The long-term unemployed is defined as being unemployed for at least six consecutive months.