Federal Reserve Won't Say Who They Gave $2 Trillion To?

[sealybobo]

I think there is a bit of confusion here.

This sounds like normal operation of the fed, the way it was set up back in 1915. They are a bank, they lend money to other banks on collateral that they feel is adequate.

The TARP money is separate, and is being reported as it should be. The normal operations should continue.

I personally would like to see more independence of the Fed. Less government control. The central banks that perform best are the ones with the greatest independence. And this time the Fed is doing its job, as opposed to 1929 when it deliberately sent banks to the wall.

Folks jumping on this keep jumping on the verb "gave." It was loans. That is what the fed does. Most fed loans are zero collateral loans. Didn't anybody here pay attention in High School when they covered this?

Ron Paul’s Audit the Fed bill is now up to 186 cosponsors!

That means over 40% of the entire House of Representatives is currently signed onto HR 1207.

And thanks to your hard work, Representative Thaddeus G. McCotter is one of the 186 proud cosponsors.

Not only has over forty percent of the House cosponsored HR 1207, but Barney Frank has even promised Ron Paul that he will hold hearings in the House Financial Services Committee.

When these hearings occur in a few months, Ron wants to have a majority of House members on board . . . so there will be no stopping Audit the Fed.

It is amazing what we’ve been able to accomplish in the House on the back of tireless grassroots efforts.

But now it is time to start thinking about the next step.

Pretty soon we will be turning our attention to the Senate, where we are certain to face a more difficult fight.

There, corporate lobbyists and Beltway insiders wield even more powerful influence.

Many Senators are already bought and sold by Wall Street bankers and their Federal Reserve flunkies.

And the Banking Lobby is already pumping piles of cash into Senate campaign coffers in a preemptive stand against Federal Reserve transparency.

Fortunately, Campaign for Liberty has been developing a grassroots program and a massive marketing campaign to counter the banksters’ efforts.