Internet Anthropologist Think Tank: Are Federal Reserve screwing up?

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    Monday, November 10, 2008

    Are Federal Reserve screwing up?

    Are Federal Reserve screwing up?
    By Gerald: Internet Anthropologist Think Tank
    Nov  10,08

    I've already stated the Federal Reserve was incompentent.

    They have loaned out almost $2 trillion dollars.
    $2,000,000,000,000.00 to Banks.

    And the banks still are not lending money, the banks don't really
    know what they have, as I understand it : Money Markets are not being 
    marked to the Market. Which is illegal, and counter-capitalism.
    And I assume the Fed is working 24/7 to get sub-prime paper and deratives out
    of the money markets.

    And the FED doesen't want to tell anyone to whom they loaned it, not Congress
    or the Press.

    Question is would disclosing the banks weaken confidence?
    Does not disclosing them weaken confidence?

    American Express just qualified as a bank holding company?
    So they qualify for a fed bail out, circumventing the Congress and
    using taxpayer money.

    And we have GM asking for a bailout.
    Clinton got the big 3 auto companies together and formed a partnership with the 
    Government to produce a family auto that got 80 miles to the Gallon.
    Correct me in comments if I'm wrong.

    Well the big 3 just played a game with Clinton.
    But the Japanese were not invited to the White house partnership.
    And were very scared, and dumped a lot of money into research.
    And came up with greatly improved gas milage,
    and the big 3 have been playing catch up ever since with
    the Japanese. And the market shares show this.
    I wouldn't mind a bailout for auto so much
    if they hadn't screwed up so big.

    Maybe GM will change to a bank holding co.?

    What ever, the tax payer needs to be getting a huge
    equity stake in all the corporations they bail out.
    And put into Social Security etc.
    Money back to the Tax payer, we are taking the risk.
    NOT paid back to the Government.
    It should be use to repay Government loans to the Social Security System,
    for example.

    If the taxpayer doesn't end up with a huge
    equity share in these corps then the tax payer 
    got SCREWED by Congress and the Lobbyiest AGAIN.

    Series 7 and 13


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    Blogger Jason said...

    The Fed is transparent in that it is subject to the oversight of Congress. Is twice a year not fast enough? The intent of Congress in shaping the Federal Reserve Act was to keep politics out of monetary policy. Legislation requires that the Federal Reserve reports annually on its activities to the Speaker of the House of Representatives.

    10:42 AM  

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