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Thread: Fed. Reserve Busted!

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    Default Fed. Reserve Busted!

    http://www.bloomberg.com/apps/news?p...d=a7CC61ZsieV4

    Aug. 25 (Bloomberg) -- The Federal Reserve must for the first time identify the companies in its emergency lending programs after losing a Freedom of Information Act lawsuit.

    Manhattan Chief U.S. District Judge Loretta Preska ruled against the central bank yesterday, rejecting the argument that loan records aren’t covered by the law because their disclosure would harm borrowers’ competitive positions.

    The Fed has refused to name the financial firms it lent to or disclose the amounts or the assets put up as collateral under 11 programs, most put in place during the deepest financial crisis since the Great Depression, saying that doing so might set off a run by depositors and unsettle shareholders. Bloomberg LP, the New York-based company majority-owned by Mayor Michael Bloomberg, sued on Nov. 7 on behalf of its Bloomberg News unit.

    “The Federal Reserve has to be accountable for the decisions that it makes,” said U.S. Representative Alan Grayson, a Florida Democrat on the House Financial Services Committee, after Preska’s ruling. “It’s one thing to say that the Federal Reserve is an independent institution. It’s another thing to say that it can keep us all in the dark.”

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    The truth must come out.
    Bush doubled the debt from 5 trillion to 10 trillion.
    Proving tax cuts work!

    Bush asked for and signed for the TARP money.
    The Republican senate leader backed Bush on this.

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    Yes. Our economy is one giant fed manipulated bubble.

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    Pretty much.

    This "collapse" is just a reset closer to our real economic condition.
    Bush doubled the debt from 5 trillion to 10 trillion.
    Proving tax cuts work!

    Bush asked for and signed for the TARP money.
    The Republican senate leader backed Bush on this.

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    Quote Originally Posted by uscitizen View Post
    Pretty much.

    This "collapse" is just a reset closer to our real economic condition.
    And an excuse for the illuminati bankers to get huge amounts of cash to buy up everything when they collapse all prices.

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