Own the Fed AND fix the Fed.
Pros:
All members in its structure will be under US Oath of Office. They will be bound by Constitutional limitations.
Congress will gain Regulatory Control, as per Article 1, Section 8, Clauses 1-to-6.
End the FDIC, which is what the Fed Res used to control all of the other banks, regulating them into oblivion. Remember that the Socialists want Equal Outcome, but this will give us Equal Opportunity.
State Banks are still viable because of the 10th Amendment. Financial Power will be retained by the States & the People, respectively.
State & local banks will be more flexible & accommodating to the interests of the communities & the States.
Cons:
The worst part can be settled quickly, that of re-adjusting the State & local banks to the end of Federal interference.
I had written something like this elsewhwere, but didn't get it linked to the original post.