Why won't the Fed let the market work?

Dear friends,

Money is everywhere. Yet, the Federal Reserve Bank acts as if the only money around belongs to the American taxpayers. Additionally, according to the logic of the Fed, when certain big companies are failing, it is our duty o save them. What is that all about? ...

AIG, Fannie Mae and Freddie Mac are the only big companies out there. They have no competition and we Americans, as a people, have zilch intellect, so we may as well buy our way out of this predicament - or our economy will collapse. Right?

No market forces play here. Therefore, with his apocalyptic insight,Bernanke, speaking to members of Congress with the urgency of a guy who must relieve himself in a few seconds, insists that that body must act now. The funny part about much of this is: It has not been that long, since he (Bernanke) was speaking in completely different terms about both the economy and the market. Why did he/we not see this coming? Is he the wrong man for the job or is the job (the Fed) just wrong for us?

Finally, there are other companies who will "pick up the slack", as it were, if others go down, because of bad investments and so forth. Besides, why should a centralized body pick and choose what companies get saved and which ones will not be rescued, on behalf of taxpayers, without an iota of our input? Let the "market" for big businesses decide and dictate the survival of such firms, just as the "market" does for either employment or self-employment for us.

G. Djata Bumpus
http://www.ask.com/bar?q=What+happened+on+Jekyll+island%2C+georgia+in+1912&page=1&qsrc=19&ab=5&u=http%3A%2F%2Fwww.apfn.org%2Fapfn%2Freserve2.htm