It's About Liberty: A Conservative Forum
Topics => Economy => Topic started by: Libertas on November 28, 2011, 07:58:33 AM
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Oh, it's only another $13b!
http://www.bloomberg.com/news/2011-11-28/secret-fed-loans-undisclosed-to-congress-gave-banks-13-billion-in-income.html (http://www.bloomberg.com/news/2011-11-28/secret-fed-loans-undisclosed-to-congress-gave-banks-13-billion-in-income.html)
::bashing::
"The Fed, headed by Chairman Ben S. Bernanke, argued that revealing borrower details would create a stigma -- investors and counterparties would shun firms that used the central bank as lender of last resort -- and that needy institutions would be reluctant to borrow in the next crisis. Clearing House Association fought Bloomberg’s lawsuit up to the U.S. Supreme Court, which declined to hear the banks’ appeal in March 2011. "
There should be a stigma, and We the People have a right to know where OUR money is going, you dick!
::outrage::
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Tar. Feathers. Now. ::rockets::
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Audit the Fed.
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"The Fed, headed by Chairman Ben S. Bernanke, argued that revealing borrower details would create a stigma .....
All of this was pre-TARP, and this reasoning also was presented to the banks' CEOs who were told that, despite those that didn't need nor want TARP money, they weren't leaving the room until they agreed to take it.
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They are working for it, really hard.
This election cycle they are going to
work harder.
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Who else operates like that? Oh yeah, the Mafia! But at least with the Mafia you stand a better chance with dealing with someone who is honest about what they are doing!!!
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Audit the Fed.
::clapping::