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Congressman: Fed “Bamboozling” Americans
George Washington’s Blog
Friday, Dec 12, 2008
The Fed is refusing to disclose the recipients of $2 trillion dollars in loans, even after Bloomberg sued under the Freedom of Information Act to get the information.
As Bloomberg writes:
“If they told us what they held, we would know the potential losses that the government may take and that’s what they don’t want us to know,” said Carlos Mendez, who oversees about $14 billion at New York-based ICP Capital LLC.***
Congress is demanding more transparency from the Fed and Treasury on the bailout efforts, most recently during Dec. 10 hearings by the House Financial Services committee when Representative David Scott, a Georgia Democrat, said Americans had “been bamboozled.”***
“Americans don’t want to get blindsided anymore,” Mendez said in an interview. “They don’t want it sugarcoated or whitewashed. They want the complete truth. The truth is we can’t take all the pain right now.”
(ARTICLE CONTINUES BELOW)
The Bloomberg lawsuit said that the collateral lists “are central to understanding and assessing the government’s response to the most cataclysmic financial crisis in America since the Great Depression.”
In response, the Fed argued that the trade-secret [law] could be expanded to include potential harm to any of the central bank’s customers . . . .
Trade secret law?
Trade secret law protects things like valuable business methods. What’s the banks’ secret business method here – making stupid decisions, going bankrupt and then becoming the recipient of socialist government handouts?
What’s next? Will the government argue that it can’t disclose the details of its torture program because it needs to protect the trade secrets of the companies that make the electro-shock machines and the waterboarding platforms?
Prison
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17 Responses to “Congressman: Fed “Bamboozling” Americans”
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December 12th, 2008 at 5:55 am
Hmmm…..if only more sheeple could see this article. I like the one callers idea about saving postage -paid envelopes from credit cards and such, and stuffing them with the truth and mailing them back.. I think that’s genius.
December 12th, 2008 at 6:00 am
The worse things get for the economy, the closer to the next big war we will come!
December 12th, 2008 at 7:57 am
When are people going to realize that they hold the true power. What is called for now is a unanimous nationwide tax revolt and a unanimous general strike. Stop feeding the beast people. Choke them like they are choking us. Every other governor in the state of the union needs to suspend business with all these banks, cut up your credit cards and debit cards and refuse, outright refuse to do business with these monsters. Then and only then will you see these dirty bastards sit up and pay attention. Until we as a people band together and unite and hurt them where it hurts them most nothing will change. Fight them with their own weapon, MONEY. Cut off their supply. This of course requires us all to step out of our comfort zone and sacrifice a little something before we are the ones being sacrificed sacrificed. Put an end to all of this bullshit and unite .
December 12th, 2008 at 11:49 am
“Congress is demanding more transparency from the Fed and Treasury on the bailout efforts, most recently during Dec. 10 hearings by the House Financial Services committee when Representative David Scott, a Georgia Democrat, said Americans had “been bamboozled.”*** ”
No, Americans have been financially raped. Why can’t Congress with all their staff ever demand transparency before the fact instead of commenting after the damage is done? That is why representatives are elected and paid to work in Washington, to protect us from this kind of organized crime. If you don’t understand legislation completely, or have no oversight, then vote against it – pretty damn simple.
Everytime you lose and cannot account for a $trillion, I think you whores should be decimated at least by impeachment, but I like the Roman method better. Maybe we would finally get your attention, or are you all being blackmailed.
The US Constitution was supposed to protect all of us as citizens, but if you actually put what turns out to be an illegal alien in the Office of the President, then all bets are off. The Constitution will truly be destroyed. It is beyond hypocracy that Barack Obama and John Yoo taught Constitutional law.
Obviously, the worst crooks in the world are here in this country (many illegally), and many making and enforcing the laws, as well as, providing “security”. This is one nation that God doesn’t have much to do with, and I can’t blame Him.
December 12th, 2008 at 3:09 pm
the problem is we have some really dumb and sold out “Leaders” and if they are smart its
in a sneaky way. And if they are clean they will not get in. Big Money Man controls the Politician so he looks the other way or they “blackmail Him” like do this or that or we will
tell you wife about your girlfriend or boyfriend.
December 12th, 2008 at 5:26 pm
DAVID SCOTT IS RIGHT ,HE SHOULD DEMAND FED BOSS BE PUT OR TRIAL FOR TREASON AND WHEN FOUND GUILTY BY THE PEOPLE BE EXCUITED IN PUBLIC.THIS WOULD END THE CRIMINALS DESTROYING OUR COUNTRY
December 12th, 2008 at 7:17 pm
The way I see it??? Your pretty much on yer own in this fucked up country…..knuckle up bitches!
December 12th, 2008 at 8:14 pm
The Federal Reserve is the root of all evil. Anyone working for the Fed deserves a punch in the face, and anyone calling shots from the Fed deserves to be put on public trial for crimes against humanity. Down with the Fed! Down with the Fed! Executive order 11110 is still law even if knowbody knows it.
December 12th, 2008 at 10:07 pm
it is literally unbelievable that Federal Reserve officials like bernaki can stand up in front of legislators and say everything is alright and we need this bailout money to fix the economy when they know full well that their ripping of the public and hurting more the economy.this is no longer a Govt of the people and for the people but a Govt for the global elitist.when they hear Ron Paul calling for the elimination of the Fed they know their a Govt who answers to know one as admitted by Volker!!
December 12th, 2008 at 11:00 pm
This keeps going, there is going to be rioting and marches to the captial! There needs to be MASSIVE marches! With everyone getting laid-off, they got time on their hands now!
December 13th, 2008 at 12:42 am
It’s all going according to plan
by the summer of 09 6 months from now North America will be Bankrupted
and primed for the NAU
bury your patriotism it will get you killed
December 13th, 2008 at 8:38 am
Sure the banksters are crooks but the responsibility of what happened lies squarly on our congress.They are all cowards that buckle under the slightest pressure or the majority of them are also involved in WANTING to get the bailout passed just as bad as the bankers.
Why is it they could not have stayed at work as long as it took so as to at least read the terms and make adjustments? I guess most of them had little boys waiting for them in their Washington residents or were just needing their usual 5:00 pm martini and could not stay on the job and demand a viewing of the terms.
Our congress can’t demand accountability or bring charges on any crook because all of them are so compromised by their own crooked deals that they are always afraid that if they don’t “go along” that their own illegal exploits will be exposed and then they will wind up in prison.
The bankers are like the triggermen but congress is like the person that puts the hit-men to work. It is not the bankers that took an oath to protect the constitution and people of this country. The worse culprits are our elected officials!
December 13th, 2008 at 7:21 pm
This whole bailout bullshit was a rushed job. And of course it had to be, otherwise there would have been time to properly prepare. Someone somewhere should have been keeping records of exactly where the money was going right from the start. It wouldn’t have been that hard. They make it seem as if they were in such a hurry that they had to drive by the bankers throwing out buckets of money. I to much of a hurry to get receipts. Don’t worry about it we’ll trust ya! All this doom and gloom that this country is having to go through, while the big banks are having a feeding frenzy. The criminal aspect of all of this, it’s so unbelievable. It’s clear that there is something amiss, and there should be an investigation as to the secrecy of the FED. It’s not like they are trying to hide trade secrets. In a criminal trial the judge would simply have them open their books. Congress has this authority! Congress has the authority to go to war over this. We are the most powerful country in the world. If congress wanted to see something they could see it. If it’s being so detrimental to the well being of this country, congress has a responsibility to the tax payers who voted them in. It’s another 9/11 on this country.
December 13th, 2008 at 8:27 pm
Stop the National Infrastructure Reinvestment Bank Act!
Research it.
Debate it.
Understand that it will obliterate our first amendment rights.
Not only that, but a gallon of water will end up costing more than a barrel of oil.
Gas prices will be irrelevant when we can’t afford to pay astronomical road and bridge tolls.
Why is nobody talking about this besides the national media who is conditioning us to the idea that “fixing our infrastructure” can is a long-term fix to the recession?
Why is is the truth movement staying silent about this?
December 14th, 2008 at 7:18 am
Hey Alex why aren’t you mentioning anything about the west coast bank bombing on Friday the 13th. Isn’t 13 their number? Hal Turner said this is like the “shot heard around the world” as in the beginning of the American Revolution. I don’t see anything on CNN here where I live overseas nor anything on your site although a policeman was killed and two others seriously injured from the blast inside the bank where they had brought the bomb from outside the bank to inspect it. How dumb was that. So Alex my friend, why are you silent on this? I can understand the neocon media not wanting to report the story but you are not a neocon, right?
December 14th, 2008 at 6:24 pm
Rischardeu, I saw the story on FOX News. Seems you’re getting worked up over little to do there pal. There’s 300million people in this country. Every day there are murders, robbery, people missing and all kinds of other sick stuff. Now if there were multiple bombings at banks all over the country then I might agree with you. The fact is, I don’t think things will start with one little event like that. Just my opinion but I think when the shit hits the fan it’ll be a slam dunk. An event that will be huge, widespread and overwelming for the masses to handle like suddenly your money is no good to buy the $150 worth of food you just gathered at the grocery store.