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Feb. 9 2009
The stimulus package the U.S. Congress is completing would raise the government’s commitment to solving the financial crisis to $9.7 trillion, enough to pay off more than 90 percent of the nation’s home mortgages.
The Federal Reserve, Treasury Department and Federal Deposit Insurance Corporation have lent or spent almost $3 trillion over the past two years and pledged up to $5.7 trillion more. The Senate is to vote this week on an economic-stimulus measure of at least $780 billion. It would need to be reconciled with an $819 billion plan the House approved last month.
December 1, 2010
The Federal Reserve made $9 trillion in overnight loans to major banks and Wall Street firms during the financial crisis, according to newly revealed data released Wednesday.
The loans were made through a special loan program set up by the Fed in the wake of the Bear Stearns collapse in March 2008 to keep the nation's bond markets trading normally.
Nov 27, 2011
The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing.
You're missing the point. 9 million isn't missing because it never existed in the first place. The US government uses the federal reserve to create fiat currency out of thin air that only ever exists as 1s and 0s in a world bank data frame.
Money can not be missing if it never existed in the first place. This is why the Federal Reserve can not and will not ever be audited. Should Americans ever find out the true nature of our banking system, revolution would only be a day away.
Crooks questioning crooks. LOL
The Federal Reserve is audited frequently and published accounts.
Why does Federal Reserve Chairman Ben Bernanke consider an audit of the Federal Reserve to be a "nightmare scenario" that must be avoided at all costs?
Well, perhaps it is because there has never been a true comprehensive audit of the Federal Reserve since it was created back in 1913.
The Federal Reserve has more power over the economy than anyone else in the country does, and yet they are virtually unaccountable and the American people have very little idea what has been going on behind closed doors over at the Fed for the past 100 years.
A very limited audit of the Fed that was passed a couple of years ago that examined transactions during the last financial crisis discovered that the Federal Reserve had actually loaned out more than 16 trillion dollars in nearly interest-free money to the "too big to fail" banks between 2007 and 2010.
Keep in mind that U.S. GDP for the entire year of 2011 was only slightly more than 15 trillion dollars.
The Federal Reserve loaned out trillions upon trillions of dollars to their friends and never told the American people about it.
You would think that Congress would be quite eager to see what else has been going on over at the Federal Reserve.
But instead, many Democrats are completely and utterly opposed to auditing the Fed any further.
For example, Treasury Secretary Timothy Geithner once stated that auditing the Fed is a "line that we don’t want to cross" and that if we did audit the Fed it would be "problematic for the country".
"The bill essentially removes the prohibitions against a full audit," Paul said during Tuesday's debate on the bill. He was referring to current rules that allow the Government Accountability Office to audit most aspects of the Fed, but not monetary policy decisions.
"To audit, we should know what kind of transactions there are," Paul said. "We should know about the deals that they made when they were fixing the price of Libor. These are the kinds of things that have gone on for years that we have no access to."
Read more: thehill.com...
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reply to post by Magister
Whos the guy asking the questions?
Alan Grayson. He's the man. Seriously, look him up because I think he'll be our president someday. At least I hope so.