Pennycents magazine, which covers micro-cap, penny stocks and otcbb equities, points out that the government's latest coup - giving the Federal Reserve control over the financial industry - is a power grab that investors should not take lightly. In the last 68 years, there has been only one such major change in regulatory authority in the financial industry, and that was Sarbanes-Oxley. Prior to that there was the Investment Advisors Act of 1940. Remember what Bush said about Sarbanes-Oxley: "And today I sign the most far-reaching reforms of American business practices since the time of Franklin Delano Roosevelt."
But remember, Bush "isn't open to government intervention..."