Fed Defies Transparency Aim in Refusal to Identify Bank Loans

Fed Defies Transparency Aim in Refusal to Identify Bank Loans

www.bloomberg.com

The 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.

(visit the link for the full news article)

Well . . . based on what we've seen happen over the past month or so, and who is being installed to dole out the 'dole' so to speak, we really have no reason to be surprised.

But that doesn't mean we can't be angry and that we can't expect that the knobs we just elected won't force them to fess up the information.

Any bets on how soon that will happen?

www.bloomberg.com
(visit the link for the full news article)

reply to post by GoalPoster


If it does happen, I would bet it won't be until we are all distracted by something bigger and more outrageous. Those things tend to happen when the people inquire about missing trillions.

The Fed is corporate royalty. You can't compel them to do or reveal anything.

The Fed is a cartel of privately-owned banks who answer only to the owners.

I think it is absurd that people actually expected to be able to have access to even the information regarding what they are 'claiming' to plan for this money, let alone actually be privy to what they actually do!

For too long we have assumed that the Fed is an instrument of the United States of America. Time to make sure everyone FINALLY begins to spread the word that it doesn't belong to us. It belongs to THEM.

Transparency..., that's a laugh.

[edit on 10-11-2008 by Maxmars]

I guess it shouldn't come as a surprise that the US taxpaying public was fed a pack of lies when this bailout was in its infancy that the process would be transparent . . .

How many in congress or the senate will now say 'we were duped' . . . and how many of those who voted for these bums will believe them and it will all be swept under the carpet never to be discussed again?

Sems to be the norm these days, its just another case of

"Do as I say , not as I do"

The Banks have all demanded 'transparancy' but chose to ignore it when they are the ones under the spotlight.

It will go down as the greatest scam in history,no doubt our great grandkids will inherit this debt,with it massive environmental impact

[edit on 10-11-2008 by all2human]

This is currently a HUGE red headline on Drudge, right at the top of the page.

I think that might garner some attention.

Interesting:

Banks oppose any release of information because it might signal weakness and spur short-selling or a run by depositors, said Scott Talbott, senior vice president of government affairs for the Financial Services Roundtable, a Washington trade group.

``You have to balance the need for transparency with protecting the public interest,'' Talbott said. ``Taxpayers have a right to know where their tax dollars are going, but one piece of information standing alone could undermine public confidence in the system.''

Awww, they don't want to shake our 'confidence' in the market..... Poor babies....

Like we could trust them less than we do now.

This is pathetic and SHOULD by all rights be declared CRIMINAL NON-DISCLOSURE. But then, they are not a 'government' entity are they?

They are corporate, and corporate law protects them, doesn't it? Surprise!

Well where is the masses marching into Washington to get the fat rats to speak.

As usual the dirty and corrupted in Washington will do as they want because nobody is forcing them to do otherwise.

Originally posted by GoalPoster

Fed Defies Transparency Aim in Refusal to Identify Bank Loans

www.bloomberg.com

The 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.

(visit the link for the full news article)

Damn I saw something about the 2 trillion emergency loans by the fed a while back ago and was hoping it was not true. Geesh what are they trying to do drive our monetary system into the ground?

No transparency at all? Whodathunkit!

Now, any private citizen making large withdrawals or deposits is automatically scrutinised as a possible criminal or terrorist. Their hypocrisy knows no bounds.

reply to post by Darthorious


I'm going to take that question and put it smack dab in the 'rhetorical' column!!!

A similar BAN thread posted much later than this one has unfortunately carried a more active discussion on the topic.

We missed the duplication for far too long and decided the longer discussion should remain.

Unfortunately, I'm closing this one so that the other discussion may proceed.

Apologies.




[edit on 10/11/08 by masqua]