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WASHINGTON, Jan 12 (Reuters) - News channel Fox Business Network sued the U.S. Federal Reserve on Monday, saying that the government has failed to release details on financial companies receiving federal funds.
Fox said it made an initial request on Nov. 10 last year under the Freedom of Information Act. The network asked for the identification of the financial institutions receiving funds and details on the collateral provided by these firms between August 2007 and November 2008. The network made a second request on Nov. 18, asking for more information on financial firms that received lending from Fed programs. It also asked for the amount of collateral held by the Fed as of Nov. 14. A Fed spokeswoman did not have a comment on the lawsuit.
I don't know.
he saw how what Ron Paul said about the coming crisis, turned out to be true, and he admitted on the air that he wished he, and others had listened to Ron Paul. I get Cavuto credit for admitting he was wrong, and turning around and supporting him.
One question, by denying the Freedom of Info request will the Fed now have to admit they aren't federal? Private companies aren't required to follow the Freedom Info Act request rules ... ... Protest permits were denied for Federal Reserve locations recently on grounds that its site was private property, ( sorry, i wish i could remember source for that ). Wonder how they are gonna get out of that question?
Funny thing is that the guy Paulson hired to manage the funds told congress that he gave he money to the banks that were stable and not to the banks that were going under.
I watched it when it originally aired. It was the first time i had ever seen RP on television. And as i watched it...i wondered why i had never heard of him. If he knew this was coming...why didn't i know about it? Why wasn't this on every local and major news channel in the country? There had to be a reason for it
If the American people knows in reality presented by the main stream how we have been duped and taken for a ride things in America will turn a lot worst than already are with an angry mob rioting in the streets.
Why We Face $53 Trillion in Unfunded Liabilities According to the Treasury Department’s 2007 Financial Report, we currently face $7 trillion in unfunded liabilities for Social Security, $34 trillion in unfunded liabilities for Medicare and $12 trillion in unfunded liabilities for public debt and civilian and military benefits. That’s $53 trillion… or $455,000 per U.S. household. If serious steps aren’t taken (and soon), this crisis could make the subprime one look like just a rainy day. Some argue that we can grow our way out of this problem. That is not realistic. To do so, our economy would have to grow by double digits in real terms for decades. That’s never happened before. (Even during the long stretch of prosperity in the 90s, the economy grew at an average rate of only 3.2% per year.)
That’s $53 trillion… or $455,000 per U.S. household.
Originally posted by ProfEmeritus
Stars for both Marg and David. Yes, it is criminal what is going on. Most of us tried to tell our Congressional reps how flawed the Bailout bill was, but no one listened. I read through the entire 400+ pages, as did others here on ATS, we posted the flaws in the bill, the lack of accountability, the fact that it gave Paulson full power to approve whatever use of the funds he felt was appropriate, and that there really were NO executive salary caps, and that the MSM was lying and reporting that there were.