First Federal Reserve Audit Reveals Trillions in Secret Bailouts

Source

Atlanta, Georga: The first-ever audit of the U.S. Federal Reserve has revealed 16 trillion dollars in secret bank bailouts and has raised more questions about the quasi-private agency's opaque operations.

"This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else," U.S. Senator Bernie Sanders, an Independent from Vermont, said in a statement.

The majority of loans were issues by the Federal Reserve Bank of New York (FRBNY).

"From late 2007 through mid-2010, Reserve Banks provided more than a trillion dollars... in emergency loans to the financial sector to address strains in credit markets and to avert failures of individual institutions believed to be a threat to the stability of the financial system," the audit report states.

"The scale and nature of this assistance amounted to an unprecedented expansion of the Federal Reserve System's traditional role as lender-of-last-resort to depository institutions," according to the report.

Well, most of us on here probably could have predicted this and knew what was going on the whole time. THe Fed is a corrupt private company catering to the needs of the rich and need to be stopped.

What is so upsetting is that if they had given this money to the people rather than the rich people the economy would be booming and there would be no recession even mentioned.

But we all know most of these corrupt people would like to keep all of the money in their little tight knit circle.

All these people involved in what is going on with the economy should be shot.

Any thoughts?

Pred...

TREASON -- Oran's Dictionary of the Law (1983) defines treason as "...[a]...citizen's actions to help a foreign government overthrow, make war against, or seriously injure the [parent nation]." In many nations, it is also often considered treason to attempt or conspire to overthrow the government, even if no foreign country is aided or involved by such an endeavour.

Outside legal spheres, the word "traitor" may also be used to describe a person who betrays (or is accused of betraying) their own political party, nation, family, friends, ethnic group, team, religion, social class, or other group to which they may belong.

COLLUSION -- Collusion is an agreement between two or more persons, sometimes illegal and therefore secretive, to limit open competition by deceiving, misleading, or defrauding others of their legal rights, or to obtain an objective forbidden by law typically by defrauding or gaining an unfair advantage.[citation needed] It is an agreement among firms to divide the market, set prices, or limit production.[1] It can involve "wage fixing, kickbacks, or misrepresenting the independence of the relationship between the colluding parties"

Pick one....

What is informationclearinghouse.info?

Love your threads pread, but until something like this hits the msm, it doesnt mean snip.

Originally posted by amongus
What is informationclearinghouse.info?

Love your threads pread, but until something like this hits the msm, it doesnt mean snip.

Why? We do not trust the MSM but yet we rely on them for what to believe and see if a story has credibility?

The MSM are all bought and paid for, specifically by these people. You'll never see this one MSM...never.

Pred...

Originally posted by predator0187

Originally posted by amongus
What is informationclearinghouse.info?

Love your threads pread, but until something like this hits the msm, it doesnt mean snip.

Why? We do not trust the MSM but yet we rely on them for what to believe and see if a story has credibility?

The MSM are all bought and paid for, specifically by these people. You'll never see this one MSM...never.

Pred...

Exactly my point.

The MASSES rely on the msm to form their opinions, unfortunately. So, this story wont mean anything or cause anything to happen until its hit the, well, mainstream.

And who audited them btw?

reply to post by amongus


Apparently the original source for the story is a website called IPS

IPS News

That a legit enough source for you or are you gonna wait for it to come out on MSNBC?

Originally posted by FortAnthem
reply to post by amongus

 

Apparently the original source for the story is a website called IPS

IPS News

That a legit enough source for you or are you gonna wait for it to come out on MSNBC?

You guys are missing my point. We on ats know this is meaningful, but we all know that unless a mainstream outlet runs with it, this story will just fade...

Originally posted by amongus
What is informationclearinghouse.info?

Love your threads pread, but until something like this hits the msm, it doesnt mean snip.

How's this:

The Fed Audit
sanders.senate.gov...

July 21, 2011
The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. "As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."

reply to post by amongus

reply to post by amongus

The GAO report noted on Sep. 19, 2008, William Dudley, who is now the President of the FRBNY, was granted a waiver to let him keep investments in AIG and General Electric, while at the same time the Federal Reserve granted bailout funds to the same two companies.

The GAO according to the original link.

Pred...

Heh heh. Sixteen trillion. Now there is a number, pilgrims. Think about how the whole planet threatened to grind to a halt over a mere piddly $700 billion back in the dark days of '08...all smoke and mirrors, all the drama about the "unprecedented" bailout just concealed a darker, slicker and more necrotic level below, where insanity orders of magnitude larger than the known and already-quite-insane insanity blossoms. That's larger than the GNP of the USA. Think about it...they basically gave away more money than could pay for every good and service produced in America for A YEAR.

Wow.

[atsimg]http://files.abovetopsecret.com/images/member/b154a2d8e7bd.jpg[/atsimg]

[atsimg]http://files.abovetopsecret.com/images/member/86d93a3144d0.jpg[/atsimg]

reply to post by silent thunder


I know. It's insane. We jail people for the smallest crimes, from drugs possession to shoplifting, but yet this select few steal trillions of dollars and live the most lavish lifestyles. And, they have the guts to do it to our face, and give us smirks.

Our world is so damn backwards. Things have to change.

Pred...

I'm surpirised this thread is not getting more replies. If a thread like this cannot get discussions happening here what do we expect the people that are not as informed as us to think?

People need to hear this and see what is actually going on. And now there is proof this is happpening and not some conspiracy.

Pred...

reply to post by predator0187

I'm surpirised this thread is not getting more replies. If a thread like this cannot get discussions happening here what do we expect the people that are not as informed as us to think?

This has been posted a thousand times already.

If I were not a christian, I would be cursing like a trooper right now.

The masses really need to wake up before we all become prisoners of the gulag casino

reply to post by Rockdisjoint


A federal reserve audit? As far as I am aware this is the first one.

Pred...

Originally posted by predator0187
reply to post by Rockdisjoint

 

A federal reserve audit? As far as I am aware this is the first one.

Pred...

Try the search thing.

There has to be 1,000 threads on this audit already.

Originally posted by Rockdisjoint

Originally posted by predator0187
reply to post by Rockdisjoint

 

A federal reserve audit? As far as I am aware this is the first one.

Pred...

Try the search thing.

There has to be 1,000 threads on this audit already.

A thousand more would not hurt.

Originally posted by XplanetX

Originally posted by Rockdisjoint

Originally posted by predator0187
reply to post by Rockdisjoint

 

A federal reserve audit? As far as I am aware this is the first one.

Pred...

Try the search thing.

There has to be 1,000 threads on this audit already.

A thousand more would not hurt.

What would two thousand threads discussing the exact same topic accomplish?

reply to post by Rockdisjoint


More discussion, which needs to happen. Rather than bickering about how many times it's been said discuss what's being said.

Pred...