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Fed 'Rogue Operation' Spurs Further Bailout Calls: Bloomberg

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posted on May, 3 2008 @ 11:07 AM
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Fed 'Rogue Operation' Spurs Further Bailout Calls: Bloomberg


www.bloomberg.com

Student loans are just the start. Former Fed officials and other Fed-watchers say that Bernanke's actions in saving Bear Stearns will expose the central bank to continuing pressure to use its $889 billion balance sheet to prop up companies or entire industries deemed important by politicians. The Fed satisfied Dodd's request today, expanding the swaps to include securities backed by student debt.

(visit the link for the full news article)




posted on May, 3 2008 @ 11:07 AM
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LOL...I swear anymore, all of this surreal craziness that is taking place with our gov and this fraudulent fed feels like I'm watching an episode of "The Soprano's"...It's so bizzare to watch the way these Elite are all taking care of each other, doing unbelievably shady sh** right in front of everyone's eyes, tossing billions around to crooks, while the whole nation is sinking financially...I'm almost speechless anymore.



``It is appalling where we are right now,'' former St. Louis Fed President William Poole, who retired in March, said in an interview. The Fed has introduced ``a backstop for the entire financial system.''

Critics argue that the result will be to foster greater risk-taking among investors emboldened by the belief that the government will bail them out of bad decisions.

The Fed's loans to Bear Stearns were ``a rogue operation,'' said Anna Schwartz, who co-wrote ``A Monetary History of the United States'' with the late Nobel laureate Milton Friedman.




www.bloomberg.com
(visit the link for the full news article)



posted on May, 3 2008 @ 12:03 PM
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What is really amazing about this is that NO MEDIA will explain what it means in terms of the wealth and where it went.

Now the people will add to their debt load, the billions handed to the bankers. Ooops. Justice, where are you?

The "Higher" educations system full of those who 'control' us with their social currency say nothing...., I can imagine why.



posted on May, 3 2008 @ 03:34 PM
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Should any of us be all that suprised?


The "Elite" seem to be doing Exactly what any of us 'normal' folks would do when faced with a crisis:

Ensure the safety and comfort of our families and close friends first, do what ever we can to help the rest of the survivors, and try to present a stoic and dignified demeanor in the face of loss and disaster.


Perhaps by the actions of these "Leaders", we the plebians might gain insight into the horrors that await us "just over the horizon"?

For certain, such such bold and bald-faced action can only be attributed to the recognition by the elites that subltety and finesse are too risky to employ under the current circumstances.



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