Auditing Ben: It's Not Just IRS Anymore!

Discussion in 'Economy' started by mascale, Jul 26, 2010.

  1. mascale

    mascale VIP Member

    Feb 22, 2009
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    FinReg, When Bear Stearns gets bailed out again, actually now authorizes an audit of the bail-out at US Federal GAO.

    People wondering about how socialist, fiat money, differs from beads and trinkets, salt or other subtances--called basic commodity money--can now follow the socialist concept, of a well-regulated monetary system. Anyone can then reason how the Great Socialist Administration of Obama-Biden was able to gain the cooperation of BP in the matter of deployment and creation of new oil spill technology, and a recognition of fiduciary responsibility in the matter.

    FinReg provides an audit basis for the following Federal Reserve, legal authority.

    13(3) Discounts for Individuals, Partnerships, and Corporations

    "In unusual and exigent circumstances, the Board of Governors of the Federal Reserve System, by the affirmative vote of not less than five members, may authorize any Federal reserve bank, during such periods as the said board may determine, at rates established in accordance with the provisions of section 14, subdivision (d), of this Act, to discount for any individual, partnership, or corporation, notes, drafts, and bills of exchange when such notes, drafts, and bills of exchange are indorsed or otherwise secured to the satisfaction of the Federal Reserve bank: Provided, That before discounting any such note, draft, or bill of exchange for an individual, partnership, or corporation the Federal reserve bank shall obtain evidence that such individual, partnership, or corporation is unable to secure adequate credit accommodations from other banking institutions. All such discounts for individuals, partnerships, or corporations shall be subject to such limitations, restrictions, and regulations as the Board of Governors of the Federal Reserve System may prescribe."

    As opposed to Bear Stearns, BP was not in a financial kind of bind. But suppose that were to happen, and then Federal Reserve started to notice that it is, in fact, an oil company: Then GAO can now audit any such activity as may be deemed necessary.

    Ben cannot take the money and run(?)! In fact, money is not even golden, anymore. Probably there is need for some giant whale. . . .in the event(?). The pelicans seem to have soured on their having even a small role in the. . . .running.

    Some parts of truly free human life: Are simply not that insane, anymore! The Pelicans are not that insane, even!

    Meg Whitman managed to take away all the money, and run: Anyone will notice, but that is about people who shop: Apparently badly!

    "Crow, James Crow: Shaken, Not Stirred!"
    (Addressing the BP need for an image adjustment, now in our make-over age(?)! We now will learn if taking the boy out of the South. . . . .)
    Last edited: Jul 26, 2010

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