Fed engaged in "cover-up" of BofA-Merrill deal-lawmaker

Fed engaged in "cover-up" of BofA-Merrill deal-lawmaker

www.reuters.com

The Federal Reserve sought to hide its extensive involvement and concerns about Bank of America Corp's (BAC.N) acquisition of Merrill Lynch amid the latter's worsening financial condition, a top Republican congressman said on Wednesday.

"The committee has already learned that Ben Bernanke and the Federal Reserve made inappropriate threats to fire Bank of America management unless they went ahead with the 'shotgun wedding' that was the Merrill Lynch acquisition," Rep. Darrell Issa of the House Oversight and Government Reform Committee said in a statement released to Reuters.

(visit the link for the full news article)

Found this article on Google Finance. Its a Reuters article. Why isn't this all over CNBC and CNN????

Once again, the Fed is caught with its pants down. Rep. Darrell Issa has brought forth these statements, but there is no information included about what the Committee plans to do about these findings.

I am surprise that Ron Paul has not yet made any statements regarding the matter. Has anyone else heard about this yet?

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

[edit on 24-6-2009 by dimensionaljumper]

Where are the indictments? We will see what becomes of this...
Perhaps we are already in the place where the Fed has Super Powers.

Untouchable, I think they are already!

S&F

there has been talk about this for awhile but apparently nothing significant enough to prevent obama from signing the bill granting the fed even more power the other day. it's positively criminal to put them into a position of power over industry when we know they use these strong arm tactics. to force one company to take over a struggling one is more of the redistribution of wealth policy.

i hope somebody is in a position to bring charges against bernanke and paulson. i imagine paulson has immunity because he was acting as a government official (does that immunity hold when he is doing something illegal?) but the fed isn't government so there should be no such protection for bernanke.

his look of smugness at knowing he can get away with anything is extremely unpleasant.

reply to post by earlywatcher


Yes man I despise that smug face he wears all of the time, Bernanke.
I would love to see someone take on these banksters...I wish Ron Paul would do it. Though he is still one of the few men left with a decent family...maybe he knows his limits?

reply to post by dimensionaljumper


Well CNBC is going to have a special program tomorrow about Bernanke in the hot seat for this deal.

It seems that the Fed gave a sweet deal to the BofA to get Merrill one that they could not refuse so I wonder how much the tax payer payed for that deal.

Are we to find out, I doubt it.

Do you really think CNBC will drill him? If so, how will he respond?

I have but one wish (that I'm going to write about now)....

Stop calling it the Fed and start calling it the "US Branch of the Supranational Bank Cartel" that is continuously attempting to control the planet via economic exploitation.

This blasphemy inflicted upon America's (and the rest of the World's) free markets has got to come to a definitive end.

This "Fed" has been a tool for the continuation of the 'elite' 'wealth' of the nation, namely International Bankers and their associates.

They must no longer be considered 'governmental' in any way shape or form.

The only thing 'governmental' about the so-called "Federal Reserve" are the political parties they own and control.

[edit on 24-6-2009 by Maxmars]

reply to post by dimensionaljumper


Nobody "drill" Bernanke we all know that he is untouchable, even the President doesn't deal with him at all.

reply to post by marg6043


Sure the President deals with him. They are buddies.

If they weren't, Obama wouldn't have been elected.

Originally posted by JayinAR
reply to post by marg6043

 

Sure the President deals with him. They are buddies.

If they weren't, Obama wouldn't have been elected.

Thanks I forgot about that one,

reply to post by burntheships


remember that old saying that goes something like: if you attack the king you must kill him. i'm sure it's put better than that, but the idea being you can't take pot shots at the top guy because if you can't eliminate him he will surely dispose of you without difficulty. bernanke is the financial king for sure, at least the public one. ron paul is still in a position of power and influence though limited. he must choose his shots carefully. he probably knows he can't take down bernanke so his shot would be wasted and he would become a target. probably he is better to stay where he is, using what influence he has, biding his time until he can make a bold move and have a decent chance of success. if we lose him, we've lost a lot.

reply to post by earlywatcher


Yes you are right! I think Ron Paul is pretty wise, and would be astute in his choice of "projects" and also...timing is everything!

reply to post by Maxmars


I agree with you on this one. the very name federal reserve or fed suggests that it has to do with the federal government when it does not. federal government has no control over it and it has no accountability to anybody. this group is deeply evil, but i think we need an acronym. US Branch of the Supranational Bank Cartel or USBSBC sounds too bankerly. we need something that sounds as creepy as they really are. like the Wealth Consumers, WC. that's pretty limited. it needs to include the opaqueness, lack of accountability, self-serving aspect that produces dire results.

do you think the bonds confiscated in Italy were printed "off the books" by the fed (or whatever we want to call them)

Bernanke is one of many many names that are synonymous with the economic failure we are witnessing. Unless Obama actually enforces transparency it will take years maybe decades to know who has been deceitful and used their position or title to scam money from us all. I dont feel sympathetic towards the numerous unemployed instead I pity the ones who still show up to work and continue to pump money into this present establishment. You have the power to bring back the barter system and regain control of America. Are you that attached to the flatscreens playstations movies music cars oversized homes and countless other useless objects that you would actually wait until the day comes they slap a barcode on you and no longer consider you a citizen but a piece of property? What happened to denying ignorance? Time is no longer on your side. Please take a few steps back and see the whole picture including the framework. Open your eyes and ears.


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