Things you may not know about the Federal Reserve

In doing some reading recently about the Federal Reserve System, I happened upon some interesting information. One of the most notable nuggets was in this article posted on the federal reserve's website: Ben Bernanke, the current Chairman of the Board of Governors, apparently agrees with Friedman's assessment, saying in a 2002 speech: "I would like to say to Milton [Friedman] and Anna [J. Schwartz]: Regarding the Great Depression. You're right, we did it. We're very sorry. But thanks to you, we won't do it again."
Also, as for the misrepresentation that it is "Federal:" In Lewis v. United States, the United States Court of Appeals for the Ninth Circuit stated that "the Reserve Banks are not federal instrumentalities for purposes of the FTCA [the Federal Tort Claims Act], but are independent, privately owned and locally controlled corporations."
Now this is quite disturbing, because from these two relatively obscure bits of info, one can discern that a few men, by virtue of their ownership of private businesses hold the power to bring our economy to its knees. Not even lobbying firms can buy that kind of influence. As of late June of this year, the amount publicly owed to the Federal Reserve was about 790 billion.
Many notable figures in our nations history have criticised this highly questionable institution. Here are some interesting quotes:
"I believe that banking institutions are more dangerous to our liberties than standing armies. Already they have raised up a monied aristocracy that has set the government at defiance. The issuing power (of money) should be taken away from the banks and restored to the people to whom it properly belongs." --Thomas Jefferson, U.S. President.
"A great industrial nation is controlled by it's system of credit. Our system of credit is concentrated in the hands of a few men. We have come to be one of the worst ruled, one of the most completely controlled and dominated governments in the world--no longer a government of free opinion, no longer a government by conviction and vote of the majority, but a government by the opinion and duress of small groups of dominant men." --President Woodrow Wilson
"We have, in this country, one of the most corrupt institutions the world has ever known. I refer to the Federal Reserve Board. This evil institution has impoverished the people of the United States and has practically bankrupted our government. It has done this through the corrupt practices of the moneyed vultures who control it". -- Congressman Louis T. McFadden in 1932 (Rep. Pa)
Congressman McFadden was one of the most outspoken critics of the Federal Reserve System. He even went as far as to draft a resolution bringing up conspiracy charges against the Board of Governors of the Federal Reserve. He was murdered by poisoning while still in office on October 1st of 1936.
More recently Representative Ron Paul has also criticised this banking institution and seeks to abolish it if elected President