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Fed Refuses to Disclose Recipients of $2 Trillion
Mark Pittman
Bloomberg
Friday, December 12, 2008
Dec. 12 (Bloomberg) — The Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of emergency loans from U.S. taxpayers and the assets the central bank is accepting as collateral.
Bloomberg filed suit Nov. 7 under the U.S. Freedom of Information Act requesting details about the terms of 11 Fed lending programs, most created during the deepest financial crisis since the Great Depression.
The Fed responded Dec. 8, saying it’s allowed to withhold internal memos as well as information about trade secrets and commercial information. The institution confirmed that a records search found 231 pages of documents pertaining to some of the requests.
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“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, a senior managing director at New York-based ICP Capital LLC, which oversees $22 billion in assets.
The Fed stepped into a rescue role that was the original purpose of the Treasury’s $700 billion Troubled Asset Relief Program. The central bank loans don’t have the oversight safeguards that Congress imposed upon the TARP.
Total Fed lending exceeded $2 trillion for the first time Nov. 6. It rose by 138 percent, or $1.23 trillion, in the 12 weeks since Sept. 14, when central bank governors relaxed collateral standards to accept securities that weren’t rated AAA.
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23 Responses to “Fed Refuses to Disclose Recipients of $2 Trillion”
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December 12th, 2008 at 10:47 am
This is money that the taxpayer’s are on the hook for so this info should be public, no question. There has to be transparency here. I’m a Canadian and I’m upset about it and it’s not even my money. This issue should not go away until answers are given.
December 12th, 2008 at 10:47 am
Hrmmmmmmmmmmm! Who got paid off?????
December 12th, 2008 at 10:54 am
My guess is that the secret recipient of the 2 trillion is the Plunge Protection Team (http://en.wikipedia.org/wiki/E.....der_12631). The elites want to wait until puppet Obama is officially in office before letting the market collapse and allow
the US to default on its debt.
December 12th, 2008 at 11:15 am
Thomas Jefferson was right.
“I believe that banking institutions are more dangerous to our
liberties than standing armies. If the American people ever allow
private banks to control the issue of their currency, first by
inflation, then by deflation, the banks and corporations that will
grow up around [the banks] will deprive the people of all property
until their children wake-up homeless on the continent their fathers
conquered. The issuing power should be taken from the banks and
restored to the people, to whom it properly belongs.”
- Thomas Jefferson (1743 – 1826), Letter to the Secretary of the Treasury
Albert Gallatin (1802)
We gave these thieving *astards bailout $$$$ for *ing up, and now they are trying to take over the entire country. Wall Street/Henry Paulson are racketeers. They refuse to say what they are doing with OUR money.
Now they want the auto industry money to be accountable and have to explain what THEY are doing.
PUT PAULSON AND THESE OTHER CORRUPT DEALER/CRIMINALS IN JAIL.
THEY BROKE THE LAW. HANG EM’ HIGH
December 12th, 2008 at 11:17 am
I have a few thoughts on this. First off, its the fed, dont try to ask about it, they will destroy you. I remember asking my self how come these transactions were not covered by the media because they were two busy arguing about the 700 billion bailout, but never said anything about this money.
Maybe is was given to the heads of banks for there reserves for the coming collapse, maybe it was paid to a war chest for the coming WWIII. who knows. They will not tell, and if they do it will be a lie spun to look like the fed is helping.
December 12th, 2008 at 12:35 pm
Stealing in the TRILLIONS, and MSM call them Saviors of the Ecomy…
December 12th, 2008 at 12:56 pm
I tried to attend a public meeting of the Fed, and found out that they never have any, even though they said to contact them on their web site to find out about open/public meetings. They are truly organized crime dressed up as a legitimate business or governmental agency.
This is typical of organized criminals who think that the rest of us owe them something because they had a hard time or their family had a hard time at some point in the past. Usually their families were criminals before coming to America and they were ready to take every advantage of the “suckers” here who were raised to help their neighbors, stay out of trouble, and that money was not everything.
All of our families had troubles and problems with wars even in neutral countries that had civil wars, were mercenaries, and finally wised up. Every country has to stay aware of people trying to change their Constitutions and deregulate everything.
Having said that, there is no excuse for this sort of blatant robbery and we need to get these scum in jail along with everyone in Congress that voted for this criminal theft. If our intelligence agencies, especially the NSA, does not have this information, then we are completely taken over by criminals. They certainly do not work for the USA.
It is a sad time to be an American.
December 12th, 2008 at 1:00 pm
Let the Civil War begin NOW !
December 12th, 2008 at 1:33 pm
Nothing bad happened to people at the FED or their People. Warburg came from Germany
and his brother was an Advisor to the Kaiser BEFORE WW I. They were some of the
richest and well connected people in Europe as were the Rothschilds. And the
Rockefellars. It was established so the rich people could make tons of money
off WW I. In case Germany had won the Family would still win. There bets were hedged
America won and germany lost but the Family still got rich. They had their hands in both
pots. The Fed had nothing to do with prejudice it just a way to keep certain people really
rich.
December 12th, 2008 at 1:37 pm
they Mind Control the NSA people about telling “family” secrets. All that classified crap
besides WEOPON DESIGNS which should be kept secret and REALLY SECRET everthing
else is business so some people can get rich. And about weopons did not that CIA head
take weopon designs home with him on a CD and Clintion pardonned him in the mid 1990’s.
December 12th, 2008 at 3:33 pm
Right….and the mainstream, Congress, and even some of us are bashing the auto makers…and now the UAW (the people). Fuckin’ backwards bullshit.
December 12th, 2008 at 3:59 pm
You are correct Drap — but that is the plan its always the plan – distraction – whilst we are busy fighting and putting attention on ourselves the rich and greedy do their deeds in front of our faces but behind the curtain.. Even the Wizard had it right in the (wizard of OZ) this is OZ except Dorothy doesn’t get to click her heals — they’ve been sold to the highest bidder! The fact that the Federal Reserve is making any decisions at all towards our money should cause people to go nuts here you have a PRIVATE entity withholding information about OUR money! The funny thing is all the elected KNOW they are NOT part of US, but are BANKERS doing what they will.. So you see everything is corrupt from the President down on that fact alone — and Obama is in there too — they have to be look what happened to those that stood up and tried getting off the vicious credit cycle — its no secret as to why they were both shot dead in PUBLIC .. Its like the days of slavery to break a whole tribe and family down they would take the head person tie his outstretched arms to horses (both sides) and let the horses pull him apart to show that even YOUR leader is powerless to us and by doing that destroy anyone elses will to try to stop them!! Unless we as a people stand up to this it will never change – a charge of ONE will never do it even a President!
December 12th, 2008 at 4:03 pm
The problem is, they filed an FOIA against a ‘PRIVATE’ entity. The Federal Reserve Bank is NOT a Federal government managed group. they are a commercial and private group.
They need a federal judge to hold them to RICO fraud actions to disclose the fraud…..
December 12th, 2008 at 5:14 pm
THE FED CHAIRMAN SHOULD BE TRIED AND IF FOUND GUILTY OF CRIMES AGAINST THE US HIS PUNISHMENT SHOULD BE DEATH BY HANGING IN PUBLIC.
December 12th, 2008 at 6:53 pm
The Federal Reserve Note represents debt that can never be paid, it is a New World Order Tomb designed to imprison the Constitution. The Babylon cup of fornication is filled with the counter intelligent weight of inflation. The Lion of Babylon claiming dominion over the Harlot Ishtar, is defined by the kings portion of 4%. Ishtar defines the number of a man, 6%. She represents a pregnant whore that accepted the offer of the king of Babylon who issues the currency, the mark of the beast representing the individual account number of the New World Order system that is U.N.-sustainable. It’s like the bull on a Babylonian coin given to the laborer of the harvest, it can’t sustain labor. The Harlot gave into temptation and became inflated with the kings portion, like a reinsurance hedge fund credit default swap.. The 4% devoured the virtue of the woman, she now represents the New World Order mother of a global 10% inflation tax. The U.S. interest on the debt was 3%, look at it now. 10% of the labor of the harvest, the cup filled with the wheat on the other side of the scale, is consumed by the beast. If you consider 10% on top of the 15% medium income tax and real inflation, it explains the default which is now occurring in the market all over the world. The weight of the New World Order represents the bastard child, it’s a son of a bitch that receives the New World Order currency now flowing it’s strong delusion into the nations, drowning all flesh with the wages of sin. It represents the sons of Moloch that mix with the daughters of men that gave birth to Nephilim which devour the harvest and now seek to devour all flesh because, like in the days of Noah, they reject the child of Mary, Yashua, the Word of God, the portion of the harvest that sustains order, life. They are consuming their own proverbial flesh and are acting like mad cows that were fed the same selfish, greedy principle. It is not ironic to witness the reality of this generation and it’s devouring principle. There is no natural affection for the New World Order U.N.-Constitutional Federal Reserve, global banking system, the mother of debt in bed with the father of the lie that relies on beast of burden they have spawned. There is no inheritance for the beast, it’s reward is death, a perishing principle. Yahshua represents the portion that preserves the value of labor and the love of our Father in Heaven on Earth. The iron will of the New World Order is not married to the clay constitution of the Harlot, they do not cleave to each other, they only seek to influence and deceive the world so they can maintain their own image as long as they can. The Kings and whores of this generation are inflated, they represent the New World Order tax on labor. Labor now defines the wages which continue to support the New World Order permanent mark of inflation. The only way to destroy the power of the beast is to accept the portion Yahshua defines. Yahshua is salvation from the wages of sin. Yahshua defines the call to be delivered. You must rise out of the City of Babylon now, you must accept and offer the portion Yashua defines. Now is the time to seal up the provision to weather the coming storm. It is time stop providing labor for the New World Order. You must not earn enough money to be taxed on income. It is time to cut off the power of the beast. It is time to fast. Let no government on Earth stand. Come out and be delivered. Get out of debt NOW! Stand fast, do no harm. Let the New World Order perish NOW! You have no choice, now is the time to stand fast and do no harm.
December 12th, 2008 at 8:02 pm
What is really scary is that public really does not even seem to care.
The people here are nothing, we are nothing.
The sheeple have been brainwashed and that is clear. They are all going to die is misery and confusion.
I am not going to die in misery and confusion. I will die with Honor.
God Save The Patriots.
Patriots RISE..RISE NOW>>>LOOK AT THE TEENS IN GREECE THEY HAVE MORE BALLS THAN ALL THE TUFF GUY PATRIOTS DECKED OUT IN VIETMAN GEAR and Playing soldiers.
It’s pathertic..It’s pathetic we let them do this to us, our country and life and world is a giant lie.
What do we have to lose? Pretty much NOTHING..
SO RISE SONS OF EARTH RISE NOW!
December 12th, 2008 at 8:28 pm
THEY go on and on about terrorism and what a threat they are to us but HEEELLLOOO…
Al Queida/Bin ladin etc are not responsible for reposessing the thousands upon thousands of homes world wide,the death of the middleclasses world wide resulting in more poverty,hence more crime,hence more laws to imprison people which to me is the ultimate crime of all.
December 12th, 2008 at 9:12 pm
If our do nothing legislative branch actually did their job, some chairman of a some damned finance committee, Ways and Means whatever would subpoena this information. But nobody’s got any balls because they know what previous people went through. Louis McFadden in the 30’s actually charged the Fed with crimes. He got poisened to death.
December 12th, 2008 at 11:20 pm
don’t pay the illegal income tax…
December 12th, 2008 at 11:58 pm
Chances are the money is being used against us in some way
December 13th, 2008 at 3:17 am
WHY ARENT PEOPLE PISSED AT THIS?? oh yeah… the media won’t cover it…
December 13th, 2008 at 3:32 am
Marsall law is a wonderful thing.
You will be hearing much more about this lethal law as time moves on.
The ultimate cash machine and a legal right for the runnig of secret societies.
December 13th, 2008 at 6:49 pm
Hey 9/11, I believe you mean martial law.