Legitimacy for Independent Agencies. To what extent do you believe the Federal Reserve's authority today is consistent with the principles that Tucker sets out?

Should the Federal Reserve be subject to having their Balance Sheet audited?

Why is it important to have the Chairperson of the Federal Reserve System be totally independent from the Executive Branch?

If one still argues that the monetary policies conducted by the Federal Reserve is heavily influenced by the Congress and the White House, what could be the evidence we can find in the system which supports the argument? (briefly explain in a paragraph or so)

Why is there a need for regulation of the financial system?  What are the objectives of the FMA and of RBNZ Prudential  regulation, as set down in legislation?  What are current challenges facing the FMA and RBNZ as financial regulators?

a. "The policy instrument must be observable and measurable, it must be controllable by the Central Bank, and it must have a predictable effect on goals". Explain this statement.

Based on the American “constitution,” which internal and external stakeholders, in the policy making process, possess “constitutional legitimacy” for their role in making public policy? Do entities with explicit power have more influence than those entities with implied powers in making public policy? Should they? Why or why not?

If an investment bank offers both underwriting/distribution functions and investment advisory or management functions, which situation would be acceptable under U.S. Securities and Exchange regulations and ethics guidelines with regard to material non-public information (MNPI)?

Self-regulation, regulation by the government and regulation by a governmental agency are threeapproaches to the regulation of financial markets. Discuss and explain their differences

D3) Explain the allegations of “rigging the market” in the recent LIBOR scandal and in that light critically discuss the argument that financial markets are best left to self-regulate using mutually agreed and self-monitored guidelines than for government to intervene with mandatory legislation.