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Federal Reserve Says Disclosing Loans Will Hurt Banks

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posted on Aug, 27 2009 @ 01:46 PM

“Our argument is that the public interest in disclosure outweighs the banks’ interest in secrecy,” said Thomas Golden, a lawyer with New York-based Willkie Farr & Gallagher LLP who represents Bloomberg.

Preska’s Aug. 24 ruling rejected the Fed’s argument that the records should remain private because they are trade secrets and would scare customers into pulling their deposits.

“What has the Fed got to hide?” said Senator Bernie Sanders, a Vermont independent who sponsored a bill to require the Fed to submit to an audit by the Government Accountability Office. “The time has come for the Fed to stop stonewalling and hand this information over to the public,” he said in an e- mail.

That's what I want to know. What the heck is the FED hiding?
Are they afraid the glass house will shatter once the details are revealed?
I think it's obvious that that is exactly the case. Will the data show the entire system is crooked? Most likely.

Let's keep an eye on where this goes.

posted on Aug, 27 2009 @ 09:58 PM
reply to post by warrenb

Give me a break, there is NO WAY IN HELL they will let anyone in to see whats going on .... NO WAY ON THIS PLANET!!!!!

this is even to funny to think about ......

posted on Aug, 27 2009 @ 10:02 PM
The shredders are working at full capacity.

By the time they released the documents, there won't be much to release.

posted on Aug, 27 2009 @ 10:10 PM
Let's pull the deposits!!!!!

Seems they are not insured anymore anyway

what a joke

AUDIT the ###### now

posted on Aug, 27 2009 @ 10:16 PM
What is really concerning is that under SEC rules public banks are suppose to disclose such information themselves. Anyone buying banks at their current valuations are nuts. If they hide it, it ain't good.

posted on Aug, 27 2009 @ 10:22 PM
I'm under the impression that the best case scenario is they are trying to hide just how bad a shape the country/economy is and also the fact that the people who were directly responsible for said mess are receiving most of the money. -Forget the stock market, think much bigger.

It steps down from there to the country is in such bad shape we are trying to convert this green junk to something we can use when it all caves in. I don't want to think about any steps further down.

posted on Aug, 27 2009 @ 10:47 PM
I would think there would be a run on the banks for sure. I think they would need to have several bank holidayssssssssss for about a month to explain what needs to be done. Otherwise, I think it would be more like WTC collapse all over again.

By keeping our cyber money in the bank, it maintains it's value or a higher value than it would converted to cash dollars. Everyone would have to use a card, rather than cash. Cash value, in particular those that were illegal incomes, would have no value. That would be an interesting scenario.

It does seem that our credit with other countries like China, is about as good as many with several credit cards they can't pay off and have to declare bankruptcy.

We'll just ship back all the crap we don't want and never did.

posted on Aug, 27 2009 @ 11:47 PM
Watching for a false flag building fire that will consume all the documents...

Or a huge computer system failure at the FED. (Or Schrodengers Dog may eat their documents.)

Send in the police recruits:

You knew that I was going to whip that out...

[edit on 8·27·09 by DrMattMaddix]

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