Posted on 04/01/2011 6:25:39 AM PDT by maggief
One of the biggest secrets of the financial crisis was disclosed Thursday when the Federal Reserve released thousands of pages of data showing heavy discount-window borrowing by foreign banks, regional U.S. banks and institutions fighting for survival.
It was the first time the Fed has given details about banks that borrowed from the central bank's oldest emergency-lending facility. Thursday's move was forced by lawsuits filed by Bloomberg LP's Bloomberg News and News Corp.'s Fox Business Network, and last year's Dodd-Frank law requires the Fed to disclose future borrowings after a two-year lag. Details of other rescue programs by the Fed were made public in December.
(Excerpt) Read more at online.wsj.com ...
That is awesome. Does that mean you couldn't find where the taxpayer was on the hook for losses the Fed didn't take?
So they repaid the loans, with interest, and got back their worthless collateral. Great.
That is preciously the trouble.
The system is a house of cards, and when will it fall?
The damage done will kill this country. This is going to decimate, no, destroy the middle class.
It will be VERY ugly when it does.
Lord have mercy, on those who trust in you.
YOU are the most disingenuous hack on this site.
Someone's gonna have to meet those commitments, Todd.
What have I said that you imagine is disingenuous?
Which commitments?
BOY, you sure swallowed that piece whole.
The FED PLOTTED to get congress to create them. Had to get their guy into the White House to do it, too. You know, like SOROS got Ozombie into the White Hut. Ever hear of politics?
Yeah, sure the FED in innocent as snow, and is God on Earth, saints with golden harps, singing lullaby’s to Americans.
yeah, right, eh?
You do know you are fighting a losing battle, don’t you?
OMG! How many Senators voted for the Federal Reserve Act? How many Congressmen?
You know full well that this whole situation is causing inflation across this world. They used that free money for their worthless collateral, and are destroying the savings of middle class.
THAT you don’t admit this is disingenuous.
Also, just like a bank can go after a homeowner (in most states) for the remaining balance after the home is foreclosed on, had the FED needed to sell the collateral, it wouldn't have absolved the foreign banks from the debt. And those that were central banks owned and operated by their respective governments, would have had the full backing of the governments for repayment.
If the Fed knew that Obama would be working behind the scenes to destabilize Libya, they probably wouldn't have made that particular loan. But then who could have predicted Obama.
And then they paid it back. The sneaky bastards!
OMG!!!
Are you clueless??
Are you going to continue to pretend that this FED are innocent lambs of the financial world? REALLY?
Just innocent by standers, saints even, doing their duty?
rubbish.
AND you continue to shill,....
Toady, you are a sick person.
Good Day, eh?
From Wikipedia:
The House, on December 22, 1913, agreed to the conference report on the Federal Reserve Act by a vote of 298 yeas to 60 nays with 76 not voting.
The Senate, on December 23, 1913, agreed to it by a vote of 43 yeas to 25 nays with 27 not voting.
The record shows that there were no Democrats voting “nay” in the Senate and only two in the House.
Sound like all the OTHER socialist baloney they have passed, like DeathCare.
LINK please.
According to this...Discount Window and Payment System Risk Collateral Margins Table
They don't use face value, they use market value.
and if the crisis wasn't averted, collateral would be the least of our problems.
That's for sure.
Excellent! Many of the conspiracy kooks insist 3 senators voted for the Federal Reserve Act out of the blue.
You need to see the link at post #156.
It WAS worthless.
It is not fun to defend something that has been fully divulged yet.
Who could predicted Ozombie?
HIS biggest contributors WERE THE BAKNS, SILLY!!!!!!!!!!!
THEY WANTED HIM!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
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