The Federal Reserve (the Fed) does control the money.
We need to have a "sound money" system. What we have now is not back by anything other than the confidence in the American economy. Our money is not backed by gold or anything, and now the world is begining to lose confidence in the dollar.

"The Federal Reserve, an unelected and unaccountable private organization, pumps more dollars into the economy whenever it chooses. Basic economics tells us that the more there is of a commodity, the less valuable it becomes. This is also true of money: The dollar is worth 4 cents of what it was when the Federal Reserve was created in 1913. Every day, every dollar we hold is devalued. We pay an "inflation tax" without even realizing it because we are forced by a falling dollar to pay more for goods and services"

I find fault more with the people that got them themselves into the mortage mess than the bank, the Fed or the government. Personal responsibility


Edited to add: It is not just a right-wing people that have tried to get rid of The Federal Reserve last time it was (Dem) President Kennedy June 4th, 1963