Senate has introduced a measure into the budget blueprint for
fiscal 2010 asking the Federal Reserve to disclose the names
of institutions that received bailout money. Good, but not good
enough, because it will not be enforced.
In an unusual political challenge to the Federal
Reserve, the Senate on Thursday called on the central bank
to disclose the names of institutions that receive emergency
loans and pushed for a study to determine the "appropriate"
number of regional fed banks. [...]
The amendment approved by the Senate calls on the Fed to
identify each firm it has given assistance to, how much the
assistance was worth, and what the firm is doing with the
The measure is little more than a token gesture, however, because
as the report states "The budget resolution is non-binding
and would not have the force of law."
News requested details of the Fed lending under
the U.S. Freedom of Information Act and filed a separate lawsuit
in an effort to find out where the money has gone.
Yet still the Fed refuses to reveal the details, saying it’s
allowed to withhold internal memos as well as information about
trade secrets and commercial information.
Last month Federal Reserve Chairman Ben Bernanke arrogantly
refused to tell Senator Bernie Sanders which banks were in receipt
of government loans and why only large greedy incompetent multinational
organizations are allowed access to loans, while small and medium-sized
businesses are left to rot.
Watch video of Bernanke's testimony as he refused to disclose
where taxpayer funds had gone:
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There is no accounting for the spending. The Federal Reserve,
which is owned and run for the most part by European banking
elites, has never been audited and is accountable to no one,
as former chairman Alan Greenspan has explained:
A private corporation and a gaggle of bastard banker children
sucking on its teat, have effectively gobbled up trillions plus
in taxpayers’ money and figuratively stuck the middle
finger up regarding questions over where that money has gone.
The figure now
stands at $12.8 trillion, an amount that approaches
the gross domestic product of the nation, that is the value
of everything produced in the U.S last year.
Quite inconceivably this outright theft has been termed a "rescue",
yet it has had no effect whatsoever other than to actually increase
the severity of the financial downturn, allowing the same elites
to exploit the crisis as a pretext for centralizing control
of the world economic system and creating a new
world order and a single global currency.
If the American public really wants to know where it's money
has gone and who they are now in debt to for the rest of their
lives, their children's lives and their grandchildren's lives,
and if they want any kind of economic future at all, it is going
to take a lot more than an unenforceable Senate measure.