Given recent and unfolding events, is there any philosophical, ethical,
legal, civil, or moral requirement for Alan Greenspan, and all others who
hold similar "responsibilities" for the Financial System in the United
States to be held fully responsible for anything..... such as a breach of
contract of employment, non-performance of employment contract, or say an
unconscionable deriliction of duty?
Could these people not be seen to have totally ignored their personal and
collective responsibilites, and that they should all be held personally
responsible ..... for example be required through the orders of a Civil or
Criminal Court to refund to the American People all salary and income
generated as a direct result of them taking up their employment positions?

What do you think? Some basic info below as to "responsibilites of the
Federal Reserve"
From the website header : http://www.federalreserve.gov/
The Federal reserve, the central of the United States, provides the nation
with a safe, flexible, and stable monetary and finacial system.

The term "monetary policy" refers to the actions undertaken by a central
bank, such as the Federal Reserve, to influence the availability and cost of
money and credit to help promote national economic goals. The Federal
Reserve Act of 1913 gave the Federal Reserve responsibility for setting
monetary policy.
The Federal Reserve controls the three tools of monetary policy--open market
operations, the discount rate, and reserve requirements. The Board of
Governors of the Federal Reserve System is responsible for the discount rate
and reserve requirements, and the Federal Open Market Committee is
responsible for open market operations. Using the three tools, the Federal
Reserve influences the demand for, and supply of, balances that depository
institutions hold at Federal Reserve Banks and in this way alters the
federal funds rate. The federal funds rate is the interest rate at which
depository institutions lend balances at the Federal Reserve to other
depository institutions overnight.

Changes in the federal funds rate trigger a chain of events that affect
other short-term interest rates, foreign exchange rates, long-term interest
rates, the amount of money and credit, and, ultimately, a range of economic
variables, including employment, output, and prices of goods and services.

http://www.federalreserve.gov/monetarypolicy/fomc.htm

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The Federal Reserve has supervisory and regulatory authority over a wide
range of financial institutions and activities. It works with other federal
and state supervisory authorities to ensure the safety and soundness of
financial institutions, stability in the financial markets, and fair and
equitable treatment of consumers in their financial transactions. As the

U.S. central bank, the Federal Reserve also has extensive and
well-established relationships with the central banks and financial
supervisors of other countries, which enables it to coordinate its actions
with those of other countries when managing international financial crises
and supervising institutions with a substantial international presence.

http://www.federalreserve.gov/pf/pdf/pf_5.pdf

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The number of federal laws intended to protect consumers in credit and other
financial transactions has been growing since the late 1960s. Congress has
assigned to the Federal Reserve the duty of implementing many of these laws
to ensure that consumers receive comprehensive information and fair
treatment.

Among the Federal Reserve