Date registered: Aug 2002
Vehicle: 190E, 400E, SLK350
Location: Chesapeak Bay
Mentioned: 1 Post(s)
Quoted: 983 Post(s)
No it's not quasi private, that's too simplistic of a definition because it only acts like a private entity in terms of internal fiscal reporting and operations. It gets no funding from the government (Congress appropriation if you will) but it must report to Congress.
If you go to their website you will notice that they report their liabilities and assets just like I do with my exotic dancing business. The only difference is that they don't keep the profits but return such funds to the Treasury (go figure). The Fed's (Fed is Federal Reserve) earn it's revenue by loaning money hence the Federal Discount Rate is just simply the rate with which they loan the money. The money they loan is simply done by circulating money by buying US government securities (they buy much more than that too). They basically regulate the flow by buying or selling those securities which in turn changes the discount rate.
Anyway, I am just an exotic dancer and I don't want to go on and on sounding like I know something.