Michael Hudson and Radhika Desai trace the origin of the trend towards allegedly independent central banks from the 1990s onwards, showing that, rather than being independent, they have served the interests of a financial elite rather than the people. Rather than abiding by its dual mandate of keeping inflation and unemployment low, it has employed the rhetoric of doing this to inflate asset bubbles. Rather than driving innovation, as he claimed, Greenspan set the Federal reserve on the trend toward a bubble driven economy. Rather than his pretense of independence, Warsh is as much a weathervane as Greenspan can be relied on to keep money easy for fear of pricking the various asset bubbles of which the US economy is today composed. Finally, rather than just easy money, what ordinary people in the US need is a well-regulated financial system aimin ...