J.P. Morgan, the dominant banker in New York City, had rescued the U.S. Treasury during the Panic of 1893. Morgan's deputy Benjamin Strong became president of the Federal Reserve Bank of New York, the most important regional bank when it was established in 1913.

The Wall Street Journal op/ed section printed the opinion of Aram Bhide, a visting scholar at Harvard and author of "The Venturesome Economy". In his opinion, Mr Bhide indicates the best approach would be to dismantle the FED not give it more power. We at TNBTP have time and time again expressed the same opinion. As we indicated to Representative Jim Hines of Connecticut, that if the SEC had 30 top investigators, they would have discovered the Madoff Scam in its infancy. But the SEC has a bunch of paper pusher, dot the I's, cross the T's lawyers who never saw a fraud and were ill equipped to discover one. Back to the Harvard professor who says, "Good judgment requires experience, not just exceptional intelligence or raw ability. good judgment requires specific expertise. You can't manage plumbers without knowing something about plumbing."  So there you have it, the BUREAUCRACY run a muck. It is smotheed in regulations, rules and guidelines. Its employees are incapable of performing their jobs due to the lack of critical experience. Now is the time to think about the size of the BUREAUCRACY and its cost. The solution is simple, start its dismantling before it become completely dis functional. That is part and parcel of what our TEA PARTIES ARE ABOUT.