Fed Defies Transparency Aim in Refusal to Disclose »
Posted By berkeley 1 year ago in Business & FinanceThe Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.
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berkeley
If tyranny and oppression come to this land, it will be in the guise of fighting a foreign enemy. Of all the enemies to public ...
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Radiofreeeuropa1 year ago
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It seems disingenuous to associate Obama with this obvious chicanery regarding transparency, after all, he is not President yet... after Jan.20th, yes a legitimate question. The whole bailout is a scam, with taxpayer dollars going to bonuses for people who ran their ships aground and even dividends for stockholders! This is completely unacceptable.
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nostalgia1 year ago
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Do you think Obama is going to disagree with Barney Frank - one of the members of Congress who wrote the bailout bill??
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FTW:
In an interview Nov. 6, House Financial Services Committee Chairman Barney Frank said the Fed's disclosure is sufficient and that the risk the central bank is taking on is appropriate in the current economic climate. Frank said he has discussed the program with Timothy F. Geithner, president and chief executive officer of the Federal Reserve Bank of New York and a possible candidate to succeed Paulson as Treasury secretary.
Frank said the Fed shouldn't reveal the assets it holds or how it values them because of ``delicacy with respect to pricing.'' He said such disclosure would ``give people clues to what your pricing is and what they might be able to sell us and what your estimates are.'' He wouldn't say why he thought that information would be problematic.
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UpholdOurConsitution11 months, 4 weeks ago
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'The Fed' needs to be eliminated. Their name alone is a mere bait and switch for the uninformed. "The Federal Reserve" gives off a sense that it is an arm of our Govt to those individuals that don't know any better thanks to our marvelous public school system (you could cut that sarcasm with a knife).
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The Fed is a huge bank that is loaning money out to other huge banks so that they can pay off debt that went bad because it was given to people that couldn't afford it. So, not only is our Govt enabling corporations to pay debt with more debt, but they are also rewarding irresponsible corporate governance by not allowing these institutions to suffer the consequences of their irresponsible actions.
The whole situation is beyond ridiculous and unbelievable! The best thing anyone can do at this point is to plan for the worst. The level of greed and corruption in today's corporate and political world is way out of control. JMHO.
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