1. Ask the FED for Fairness
A Multi-organizational Drive to Encourage
the FED to invest in Main Street for
Economic Stimulus
2. Fragile Economic Recovery
Wall Street is doing fine
Main Street not so well
Downward Spiral
into Depression
Janet Yellen, Vice-chair of the Fed’s Board of Governors voiced these
concerns, “The stagnation of the labor market in particular is a grave
concern not only because of the enormous suffering and waste of human
talent it entails, but also because persistently high levels of
unemployment will wreak structural damage on our economy that could
last for many years.”
3. Problem
FED infused TBTF with capital via low interest
rates and stimulated Wall Street
The intention was for the TBTF to in-turn loan
to Main Street.
The TBTF did not loan to Main Street.
5. FED Agrees
According to William Greider, columist with
the Nation, Bernanke is not opposed to the
FED taking a direct approach
6. Historical Presidence
Fed Reserve Act of 1932 (sec. 13.3)
authorizes the Fed to infuse capital
directly into the grass root economy
and it has done so in the past.
7. Politics obstructs NOT Policy
Though Chair Bernanke has made overtones
suggesting a willingness to infuse capital
directly into Main Street, the TBTF are
opposed.
8. Action to Overcome the
Obstruction
For Bernanke to act as Grieder suggests that
he would like, Bernanke needs the
support of we the people.
9. Action Plan
We the People Contact the Fed Chair and all
members of the Board of Governors and
request direct capitalization of Main
Street.
10. How?
Through a nationwide coalition develop a
drive to make phone, email, and letter
contact with the Fed
11. What Can You Do to Help?
Step One
Review these materials
Check for clarity (Do you understand the
problem, purpose for the action, and the
action plan)
Provide constructive comments
12. What Can You Do to Help?
Step Two
Join in the Beta Test (once step one is
complete)
Call the Fed Chair and Board of Governor
members
Email the Fed Chair and Board of Governor
members
Send letters to the Fed Chair and Board of
Governor members
13. What Can You Do to Help?
Step Three
Join in the effort to develop a nationwide
coalition so that the drive to Ask the Fed
for Fairness is successful
Participate in conference calls
Post on Face Book and Twitter
Send the AFF information to all your contacts
14. Summary
Problem - Fragile economy
Solution - Direct infusion of Capital into
local economies
Obstruction - Political NOT Policy
Action - Influence the Fed with direct
contact from We the Peopl
