Why don't we correct your errors before you try to put words in my mouth?
Treasury tell the Federal Reserve what they want and the Treasury gets it.
Huh? Please explain what you mean.
If the Treasury or the President’s Plunge Protection Team is causing buying into the stock market or doing direct loans with foreign governments
The Treasury would need to get approval from Congress before loaning to a foreign government. Show me the vote that did whatever you think the Treasury was lending.
Show me and explain where the SWAPs occurred
Look on the Fed website. I gave you the link for the first week of swaps. Look week by week moving forward.
that cover the entire amount of money forwarded to foreign banks listed in the table on page 131,
Swaps are different than loans to banks.
I’ll give you a clue...TARP overruled the Federal Reserve’s normal procedures.
TARP was run by the Treasury. Stop giving me clues, it's clear you're short a few dozen.
That is what the report is about and that is what you can’t comprehend.
The report is about the Fed, not TARP. The Fed didn't do TARP.
When Congress passed TARP they gave Secretary of State Paulson carte blanche to spend the monies anyway he saw fit without being prosecuted for his decisions. Read the the bill/law. You should already know that was the core of the legislation. Paulson was responsible for giving loans to foreign banks because Congress and the President (signed) allow it with TARP.
On page 131 of this report they didn’t list the loans to the foreign banks in a SWAP Lines column. Read the table heading note.
Euro banks and the IMF don’t go begging to the Federal Reserve, just recently, they first go begging to US Treasury Secretary and/or President of the United States for funding then the Federal Reserve is instructed on what to do and what to accomplish albeit swap-lines, (at the time) buying crap paper (derivatives), direct loans, funding private businesses like AIG, anything that might threaten the downfall of world banking was supported by throwing money at it.
Congress has oversight of the Federal Reserve. The Federal Reserve can’t do whatever it wants. Needs to give notice to the US Treasury and US Treasury has to notify Congress. Both the Federal Reserve and US Treasury report to Congress during regularly scheduled hearings.
Again, after the 700 billion TARP was approved, then the US Treasury overruled the Federal Reserves guidelines and it was a money free for all, spending 16 trillion according to the GAO. Couldn’t have been done with the passage or TARP. Really has nothing to do with the Federal Reserve, the article is all about TARP, the Federal Reserve is just he fall guy. A GSE (Government Sponsored Enterprise) approved by Congress with jurisdiction and oversight.
You will need to read up on the President’s Plunge Protection Team that has authority to calm and stabilize the markets...http://www.answers.com/topic/working-group-on-financial-markets