Posted on 03/21/2011 7:30:07 AM PDT by unixfox
Headline only, story developing.
Benji ain’t gonna like this.
If it happens it could easily be the biggest can of worms anyone has ever seen...
Mike
Should be interesting. There are reasons the crooked _ _ _ _ _ _ _ _ didn’t want to do this.
Why? The loans have been paid back.
Why did this have to go to the SC then?
Lots of foreign banks were recipients of the money. US taxpayers bailing out foreign banks could cause some people to get excited—if you know what I mean.
Because 1) it will finally tell us whether or not the big banks needed bail-out funds. They publically claimed they didn't, but privately there is evidence they did.
And 2) it will allow investigations into whether the process was above-board.
That it had to shows how deep the Constitutional hole has become that we must either dig out of, or start over.
Why? The loans have been paid back.
Have they? All of them?
And unjustifiably harm the reputation of the Fed and congress. Not that you could harm them any further.
Fed whining about how this compromises their ability to implement policy and manage crises a will begin shortly.
Besides the fact some foreign banks were bailed out by the fed, I’d love to see the constitutional basis for that, money was also used to prop up a number of activities not normally considered banks in the traditional sense of the word, like GMAC and General electric. This along with the leaks coming from wikileaks, and not being reported in the press, paint a very bad picture for the fed, the treasury and the (.)bamster. I recall a multibillion, or was it trillion, credit facility quickly drawn up by the Fed when Lehman went down, completely devoid of any oversight...now, where did the money go??
If there's nothing to see, then there shouldn't have been such resistance (to the point of bringing all the way to SCOTUS) to disclose simple information.
As an aside, why is it that you charge into every bankster thread and immediately begin catching spears?
You act as if your office is located under Blankfein's desk.
Current loans from the Fed discount window are $7 million. Million with an M
Yep. I think this is the big part of the story.
Recipients of what money? Be a bit more specific if you can.
US taxpayers bailing out foreign banks could cause some people to get excited—if you know what I mean.
Only the people who don't understand that the Fed doesn't loan out taxpayer money—if you know what I mean.
There was a system wide "run on the bank", many healthy institutions needed some extra liquidity.
They publically claimed they didn't, but privately there is evidence they did.
Which ones claimed they didn't? I assume you mean TARP, not short term loans.
And 2) it will allow investigations into whether the process was above-board.
As long as all borrowers at the discount window paid the published rate, I don't see how there could be a problem.
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