“Kennedy’s comptroller of the currency, James J. Saxon, had been at odds with the powerful
Federal Reserve Board for some time, encouraging broader investment and lending powers for banks
that were not part of the Federal Reserve system. Saxon also had decided that non-Reserve banks
could underwrite state and local general obligation bonds, again weakening the dominant Federal
Reserve banks.”
Jim Marrs. (1989). Crossfire: the Plot that Killed Kennedy, NY: Carroll & Graf Publishers