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Author Topic: Secret Fed Loans  (Read 1366 times)

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Offline Libertas

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Secret Fed Loans
« on: November 28, 2011, 07:58:33 AM »
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

 ::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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Offline michelleo

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Re: Secret Fed Loans
« Reply #1 on: November 28, 2011, 09:12:17 AM »
Tar. Feathers. Now.   ::rockets::
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Offline IronDioPriest

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Re: Secret Fed Loans
« Reply #2 on: November 28, 2011, 09:48:14 AM »
Audit the Fed.
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"A strict observance of the written laws is doubtless one of the high duties of a good citizen, but it is not the highest. The laws of necessity, of self-preservation, of saving our country when in danger, are of higher obligation. To lose our country by a scrupulous adherence to written law, would be to lose the law itself, with life, liberty, property and all those who are enjoying them with us; thus absurdly sacrificing the end to the means."

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Offline Pandora

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Re: Secret Fed Loans
« Reply #3 on: November 28, 2011, 10:03:49 AM »
Quote
"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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"Under certain circumstances, profanity provides a relief denied even to prayer." - Mark Twain

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charlesoakwood

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Re: Secret Fed Loans
« Reply #4 on: November 28, 2011, 11:19:55 AM »

They are working for it, really hard.
This election cycle they are going to
work harder.

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Offline Libertas

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Re: Secret Fed Loans
« Reply #5 on: November 28, 2011, 11:20:33 AM »
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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Offline Castaway

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Re: Secret Fed Loans
« Reply #6 on: November 28, 2011, 05:39:01 PM »
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