God Save the Fed
You have got to be kidding me. Now that Paulson and his independent, monopolistic bank recieved trillions of dollars in bail-outs and what have you, they are refusing to disclose the recipients.
From Bloomberg.com:
Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn’t require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.
“The collateral is not being adequately disclosed, and that’s a big problem,” said Dan Fuss, vice chairman of Boston- based Loomis Sayles & Co., where he co-manages $17 billion in bonds. “In a liquid market, this wouldn’t matter, but we’re not. The market is very nervous and very thin.”
So far, Bloomberg News has used the Freedom of Information Act to request information and has filed a lawsuit to try to get the list of recipients.
These are OUR taxdollars. The Fed, unconstitutional as it is, should at least follow through with its promises. It got it’s billions (in the end trillions) of dollars at the expense of the taxpayer. Show us some transparency. Why doesn’t President-elect Obama say something? His word is worth it’s weight in gold these days, and remember, he’s been supporting transparency in government for years – one of the few things I cheer him for. Even Paulson himself, has championed for transparency on where the loans were going:
“We need oversight. We need protection. We need transparency. I want it. We all want it.” Secretary of the Treasury Paulson said.
Well…at least when the Fed was still begging for the handout.
If you’re interested in finding more information about the Bloomberg v. Fed lawsuit, the case is: Bloomberg LP v. Board of Governors of the Federal Reserve System, 08-CV-9595, U.S. District Court, Southern District of New York (Manhattan).
November 11, 2008 at 5:55 pm
God save you, darling. Does this really come to a surprise to you? Can you say that you are really that shocked with this news?
Wake up and smell the coffee, Our Government has been lieing to us for years. While folks like you sit back and take it. All you folks do is BITCH about it. Start standing up to our Government and hold them accountable for their actions. But it takes all of us to stand together not just a handful can turn it around. It will take Millions of us to do it, but it can be done.
Seeing this news shocked you, maybe this one will too. It has been reported this morning that AIG has received hundreds of thousands of dollars in bailout relief from our Government and the Feds. And again held another Posh Meeting in an Arizona Resort. With costs again in the hundreds of thousands dollars. Check out my post that I posted this morning on it with the links to check it out for yourself. Also check out the other posts and maybe you will learn just how crooked our Government is and what some of the possibilities are the we can do to get our Government back on the right track ….. but, we are not going to do it by sitting back and complainning.
November 12, 2008 at 2:28 am
Sorry if I sounded harsh. But, so many of them on here like to bitch….but they won’t stand up to the Government… I am hate our government and don’t trust a one of them there.
Where do you think the Government makes their money to run this country on? The income tax that we pay….and yes, the mint when they need even more. If the Government doesn’t want to start listening to us the people…..I will send a petition around to have everybody stop paying income taxes in April of 2010. If we can get enough people to do it….what can they do to 300 million of us…put us in jail. I don’t think so!!!
Also, if I sounded harsh….I really was very disgusted again with the Government. Please except my apologize.