Fed Defies Transparency Aim in Refusal to Identify Bank Loans ---------------------------------------------------------------------- Bloomberg Sues Fed to Force Disclosure of Collateral ---------------------------------------------------------------------- The money is gone. The Federal Reserve is extremely corrupt. In related news, Hank Paulson continues as the undisputed ruler of the universe http://www.washingtonpost.com/wp-dyn/content/article/2008/11/09/AR2008110902155_pf.html ---------------------------------------------------------------------- USA taxpayers just gave AIG another 75 billion to throw away-easy come, easy go http://biz.yahoo.com/ap/081110/earns_aig.html Let the Free markets work...
....... Some more insight into the matter... Federal Reserve is illegal... Source: Prudential Investor
That section deals with limitations on the States. That section has no applicability to the Fed. The give away is how it starts, "No State shall...
there is some debate on the transparency issue. It seems the guys who are wanting to keep it quiet for now are using arguments that revealing this info would harm the markets. I'd vote for transparency. It is taxpayer money. cripes
I am sure that revealing that your company is so FUBAR you had to have a hand out would probably hurt you in the markets. It all comes down to the whole premise that we shouldn't have bailed these fools out in the first place!
Right, Congress has this power and they have delegated it to the Federal Reserve via the Federal Reserve Act.