If Alan Wants to 'End the Fed,' Times Are Changing

During the 1980s or 1990s, it seemed politically impossible to even consider a situation in which the existing monetary plumbing would be torn out and replaced with some â??free banking systemâ? or other such solution. The Fed, under Greenspan and Volcker, seemed to have a pretty good handle on things. The economy was doing well and people were enjoying a Great Bull Market in both stocks and bonds. This was not the time when you throw everything overboard for some goofy new idea.