Talk:Benjamin Strong Jr.

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This article perpetrates the myth that the Federal Reserve is some sort of banking conspiracy. Yes there was a "secret" meeting that resulted in the Aldrich Plan; however, after the Panic of 1907 there was much discussion and interest in reforming the banking system in the US. The Aldrich Plan was devised in secret as the New York financial leaders knew it would fail if the public realized who devised the plan. And that is what happened: the Aldrich Plan was indeed submitted to Congress and was voted down. Although the Aldrich Plan serves as an outline for the subsequent Currency Bill (which created the Federal Reserve System) there were substantive changes made. The most important was the addition of the Board of Governors which effectively placed control out of the hands of the bankers (the Aldrich Plan called for commercial bankers to run the system). Gerald Howard, 2-21-07 71.140.198.6 01:23, 22 February 2007 (UTC)