Fed in hot water over secret bailouts

Fed in hot water over secret bailouts

www.csmonitor.com

The Fed has finally came clean. It now admits it bailed out Bear Stearns – taking on tens of billions of dollars of the bank’s bad loans – in order to smooth Bear Stearns’ takeover by JPMorgan Chase. The secret Fed bailout came months before Congress authorized the government to spend up to $700 billion of taxpayer dollars bailing out the banks, even months before Lehman Brothers collapsed. The Fed also took on billions of dollars worth of AIG securities, also before the official government-sanc
The losses from those deals still total tens of billions, and taxpayers are ultimately on

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So does this possibly mean a U.S. Treasury NOTE around the corner. How much more public mistrust dose there need to be before the American people say enough is enough? Oh wait the American people no longer has a voice! 96% of Americans that were polled was agents the bailouts. I guess we can yell all we want and it will not matter because everyone will just vote the same crooks back into office this November. We need to fix this problem and go back to the U.S. Treasury Note!

Best Regards
The_Tick

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

Good article, and yes it does seem like political waters are boiling. Thanks for sharing this,

Also, anyone with a Tick Avatar GETS A STAR AND FLAG no questions asked (Even faster if it is a Simon Bisley made Tick)!!!!

Good post...

GREAT avatar...

reply to post by The_Tick


Rockefeller and crew, the owners and creators of the worlds oldest financial firm...good old Chase...what a bunch of bullcrap they are allowed to manipulate the system to get us to pay for everything. Like they aren't rich enough as it is. They have more in cash than we have as a debt in the entire country, Yeah I am talking more than 120 trillion. What a joke. S+F...I hate the world right now and I can't wait for this to change. Money controls everything, and even the greedy bastards at the top want us to give them more daily. Seriously they need to get the funk out.

[edit on 2-4-2010 by Smell The Roses]

What ended up happening with Ron Paul's bill to audit the Fed? Last I heard it had a lot of co sponsors and support but that was months ago. If that bill gets passed imagine all the other info the people would gain about the feds dealings.

any idea how a transition from bank notes to treasury notes would work?

reply to post by The_Tick


I hate what the fed does. But I am a realist nothing and I mean nothing will come from this and they will never get audited either. It is all pie in the sky. And nothing more than chest pounding. These guys are the real players they will never let it happen. The only way we will ever get to look inside is if everything falls apart and even then we might not get to see.


I wish we could but I know in my heart we never will get justice from the Fed.

If the US military had spent 700 billion shooting and blowing up brown or yellow people, Americans would cheer.

But because it was all spent on crooked American Politicians and Bankers, that is very bad.

Originally posted by Silver Shadow
If the US military had spent 700 billion shooting and blowing up brown or yellow people, Americans would cheer.

But because it was all spent on crooked American Politicians and Bankers, that is very bad.

Speaking as an American I am offended. I would like to see the Americans that actually feel as you claim to speak up. Anyone?

First off Mr Mask, I'm not Bisley just a fan and thx for the S&F!

Ron Paul's audit the Fed bill could absolutely lead to a treasury note.

The translation would move as easy as printing new money. The difference would be it would no longer be backed by interest pay for by you federal income tax. But by precious metals & possibly commodity s. Just think all of the US Treasury Note from before the thirtys that have not been destroyed are still backed by gold.

That is beyond hot water that is Major criminal activity.The justice dept must act or face extreme embarrassment.Federal judges need to starting search warrants locking up data and seizing info.

It's seriously time for the American people to demand the end of the federal reserve and an end to our tyrannical government. If the US military and the troops fail to supprot the people in overthrowing our government then they deserve the same wrath that we as a nation will inflict upon the White House and Capitol Hill. Enough is enough. The time for holding signs and yelling is over......it's time we enact our 2nd amendment and start handing out lead pink slips to Washington and the political leeches ruining our country.

reply to post by Zosynspiracy


It isn't that easy to just end something so big. People think you could just walk in and say "be gone", and poof! The thing is you must battle that organization by having more people on your side. You must convince people why the FED is bad, and why the average citizen suffers because of them. Even then, you must go through a much tough politics fight which will eventually get squashed because of lack of funding.

Majority of American people are dumbed down and are happy about it. There are too many things that keep them busy while the FED and other elitists steal money from them.

You gotta make a short and powerful message. The average American will have a very short attention span, so if you don't captivate them within the first 2 seconds then chances are you won't catch their attention.

If we take the fight to the streets, we will be crushed so against the police. We are basically getting screwed left, right, back, front, up, down, and possibly every way in other dimensions(if they exist).

Originally posted by Smell The Roses

Originally posted by Silver Shadow
If the US military had spent 700 billion shooting and blowing up brown or yellow people, Americans would cheer.

But because it was all spent on crooked American Politicians and Bankers, that is very bad.

Speaking as an American I am offended. I would like to see the Americans that actually feel as you claim to speak up. Anyone?

Of course you are offended. The truth hurts, huh ?

So tell me about Iraq, and explain to me the purpose, the strategy, and the objective of SEVEN YEARS of warfare and torture in Iraq.

As a proud American, I bet you can tell me exactly what America is fighting for in Iraq.

While it is bad, for it to get any attention it will have to be run down our throats by the MSM for at least two weeks. This will lead to nothing except the traders of the dollar on wall street ditching our money faster.

If I am understanding this correctly the Federal Reserve is solely on the hook for this and this is not backed by the full faith and credit of the US Gov. Is this correct? If it is, who cares?

The article is lying when it says ultimately the US taxpayer is on the line.

No, we are not actually. More misinformation. The FED is a private banking institution.

[edit on 3-4-2010 by GreenBicMan]

Originally posted by GreenBicMan
If I am understanding this correctly the Federal Reserve is solely on the hook for this and this is not backed by the full faith and credit of the US Gov. Is this correct? If it is, who cares?

The article is lying when it says ultimately the US taxpayer is on the line.

No, we are not actually. More misinformation. The FED is a private banking institution.

[edit on 3-4-2010 by GreenBicMan]

It is the US treasury that bailed out the banks, not the FED.

That is the whole point.

reply to post by Silver Shadow


What?

I am not understanding you. What does that have to do with the FED taking on BS debt?

Regarding AIG - here is the breakdown in case you are interested


Federal Reserve Credit Facility (Max $60 billion) $43.458
Federal Reserve Securities Purchases (Maiden Lane II) $19.8
Federal Reserve Securities Purchases (Maiden Lane III) $29.6
Treasury Preferred Stock Investment $40
Treasury Credit Line (Max $30 billion) $1.5

Total: $134.358

By the way we have made coin on all of this to the tune of 40+ Billion already,,

Still haven't even got rid of our CITI yet..

www.pbs.org...