bloomberg.com— The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.
Nov 10, 2008View in Crawl 4
"The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral." - I'm not understanding; not a financial whiz. In this opening sentence, it states "...emergency loans FROM AMERICAN TAXPAYERS..." I understand the Fed is privately owned. But this $2 trillion in emergency loans - is this separate from the federal government's bailout....how much did that end up being (or are they even finished adding to it)? Also, do these bailouts/loans constitute federal government takeover of the industries receiving the money? If not takeover, do they now own interest in the industries receiving the money? If so, is it controlling interest? Does, or will, the federal government now actually own parts of these industries (like AIG, GM, etc.)? If so, would this be a characteristic of fascism? So many questions.
If this is true then we can only conclude that Congress has no power over the Fed (which is a privately held company), and that the Fed intends to rob and bankrupt the taxpayers.
The fed just lent $2 Trillion of our money and we don't know who they lent it to or what they using as collateral. We don't know what's going on. We're not going to know what's going on. And we cant' do a damn thing about it.
I am waiting for the Fed to come out with new money. This way that fat roll of cash you have been holding on to will be worth zero. Sorry pal we only accept new money here.
Actually, the Federal Reserve's holdings are from required deposits (by law: Federal Reserve Act of 1906...I believe) from commercial banks. Who deposits money into commercial banks? We do? Is this our money? I think so. Don't come in here blabbing if you don't know what you are talking about...oh wait...this is the internet...
existingNov 10, 2008
"The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral." - I'm not understanding; not a financial whiz. In this opening sentence, it states "...emergency loans FROM AMERICAN TAXPAYERS..." I understand the Fed is privately owned. But this $2 trillion in emergency loans - is this separate from the federal government's bailout....how much did that end up being (or are they even finished adding to it)? Also, do these bailouts/loans constitute federal government takeover of the industries receiving the money? If not takeover, do they now own interest in the industries receiving the money? If so, is it controlling interest? Does, or will, the federal government now actually own parts of these industries (like AIG, GM, etc.)? If so, would this be a characteristic of fascism? So many questions.
principleNov 10, 2008
If this is true then we can only conclude that Congress has no power over the Fed (which is a privately held company), and that the Fed intends to rob and bankrupt the taxpayers.
spidur1Nov 10, 2008
The fed just lent $2 Trillion of our money and we don't know who they lent it to or what they using as collateral. We don't know what's going on. We're not going to know what's going on. And we cant' do a damn thing about it.
Closed AccountNov 10, 2008
I am waiting for the Fed to come out with new money. This way that fat roll of cash you have been holding on to will be worth zero. Sorry pal we only accept new money here.
Closed AccountNov 10, 2008
thanks woodrow! we all owe ya one!
christianptriotNov 10, 2008
"case by case; restrictions apply" are the key words there.
trogdorburnNov 10, 2008
Actually, the Federal Reserve's holdings are from required deposits (by law: Federal Reserve Act of 1906...I believe) from commercial banks. Who deposits money into commercial banks? We do? Is this our money? I think so. Don't come in here blabbing if you don't know what you are talking about...oh wait...this is the internet...
tonylocneNov 11, 2008
I know of something we can do it about it... It'll be bloody, but in the end I will guarantee things will have changed. The time is nearing folks.
hunterkillerNov 12, 2008
You, sir, are extremely ignorant.This is fact, and Bloomberg News is filing a lawsuit against the Fed. Did you even read the article?
Closed AccountFeb 6, 2009
<a class="user" href="http://video.google.com/videoplay?docid=-9050474362583451279">http://video.google.com/videoplay?docid=-905047436 ...</a>