And that's where Your Money Went........

Discussion in 'Economy' started by shintao, Dec 4, 2010.

  1. shintao
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    shintao Take Down ~ Tap Out

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    Interesting indeed, it takes a Socialist Website to expose the underhanded way that your tax dollars were given away,........WITHOUT CONGRESSIONAL ACTION OR CONSENT!!!!

    Fed report lifts lid on Great Bank Heist of 2008-2009

    4 December 2010

    The US Federal Reserve Board on Wednesday released documents on emergency measures it took between 2007 and 2010, using taxpayer funds, to bail out major financial firms in the US and around the world. The sums involved are staggering.

    Fed bailout loans outstanding reached a high of $3.3 trillion, but the cumulative amount of cash funneled by the US central bank to banks, hedge funds and major industrial corporations reached the tens of trillions of dollars.:eek:

    Every major Wall Street bank was on the Fed dole, as were giant companies including General Electric and Verizon Communications. The Fed ran nearly a dozen separate bailout programs which together eclipsed by far the Treasury Department's $700 billion Troubled Asset Relief Program―the program that handed over billions in public funds to the banks in 2008 and 2009. In comparison to the amounts funneled by the Fed to US financial institutions, the Obama administration's $787 billion stimulus package was a drop in the bucket.

    These vast sums were loaned out at rock-bottom interest without any strings attached. The banks and corporations that benefited were not even obliged to provide an account of what they did with the money. :eek:

    The entire purpose of the operation was to use public funds to cover the gambling losses of the American financial aristocracy, and create the conditions for the financiers and speculators to make even more money.

    All of the 21,000 transactions cited in the Fed documents―released under a provision included, over the Fed's objections, in this year's financial regulatory overhaul bill―were carried out in secret. The unelected central bank operated without any congressional mandate or oversight.:eek:

    Fed report lifts lid on Great Bank Heist of 2008-2009
     
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  2. iamwhatiseem
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    iamwhatiseem Gold Member

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    There have been several posts on this...but another one doesn't hurt a thing.

    However...the media is unbelievably quite about this. Even Fox News.
    Think about this, a PRIVATELY OWNED agency gave an unprecedented amount of America taxpayer money to foreign banks...just simply gave it to them.

    Not Congress, who is supposed to be the only body in this country that can award taxpayer money, but a PRIVATELY OWNED institution who we don't even know who owns...gave our earned dollars to foreign banks.
     
  3. Jroc
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    Jroc יעקב כהן Supporting Member

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    The Fed's out of control, Im not a big Ron Paul fan but auditing the Fed is a good idea
     
  4. shintao
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    shintao Take Down ~ Tap Out

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    So why isn't Obama sending the military in to arrest these assholes, and lets have some old fashioned kangaroo courts & tree hangings, as a lesson to those in the future? Why isn't the Partys flooding DC and demanding it? Where is the Outrage???:mad::blowup::salute::salute::salute: :Boom2:
     
  5. william the wie
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    william the wie Gold Member

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    The Fed is an unguided missile at best.
     
  6. uscitizen
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    uscitizen Senior Member

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    The reason why our government does these kind of things is clear.
    The mega corps ARE our government.

    You can keep believing in a government by and for the people if you want. I stopped believing in the tooth fairy long ago.
     
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  7. Jroc
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    Jroc יעקב כהן Supporting Member

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    Big government is the root cause..

    [ame="http://www.youtube.com/watch?v=2sSg0xjzIec"]http://www.youtube.com/watch?v=2sSg0xjzIec[/ame]
     
    Last edited: Dec 4, 2010
  8. uscitizen
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    uscitizen Senior Member

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    Big government is big business.
     
  9. loosecannon
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    loosecannon Senior Member

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    The "Fed", or Federal Reserve, isn't the US government.

    Please demonstrate how the tax payer is on the hook for any of this, because I think we are not.

    First off most of this lending is routine, that's what the Fed always does, second it has been paid back.

    The uber low interest rate could be a problem cuz it invites new bubbles. And inflation could be as well, but what is new? This is business as usual until somebody can demonstrate otherwise.

    The Fed IS a private cartel. That's a fact. They are only alleged to be a part of the US government. I bet they are not listed on the federal registry.
     
  10. uscitizen
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    uscitizen Senior Member

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    Are federal reserve employees classified as government employees?

    The directors or governors are appointed by the pres and approved by the senate.
     

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