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“The Federal Reserve, like other regulators around the world, did not do all that it could have to constrain excessive risk-taking in the financial sector in the period leading up to the crisis. Because of our role in making monetary policy, the Fed brings unparalleled economic and financial expertise to its oversight of banks. Our ability to make effective monetary policy and to promote financial stability depends vitally on the information, expertise and authorities we gain as bank supervisors.” - Ben Bernanke Sunday, November 29, 2009 Bernanke states the Fed did not do all it could to constrain excessive risk-taking; that the Fed sets monetary policy and that the Fed’s actions are dependent on vital information it obtains from banks. This leaves only two possibilities: either the Fed knew what was happening, having all the information and being in control of monetary policy and let the risk escalate or it is unable to do its proscribed job. Either way the Fed system is a failure. The Fed printed $12 trillion to "save the system." The federal government could have printed $12 trillion to "save the system" and the interest paid to the federal government could have paid down the debt instead Americans will now have to pay exorbitant interest rates for decades to behemoth corporations run by the syndicate of the soulless to which wealth does not mean life but the power to control.