Posted on 04/12/2011 10:23:42 AM PDT by Zakeet
Why is the Federal Reserve forking over $220 million in bailout money to the wives of two Morgan Stanley bigwigs?
Why Isn't Wall Street in Jail?
Most Americans know about [the official US] budget. What they don't know is that there is another budget of roughly equal heft, traditionally maintained in complete secrecy. After the financial crash of 2008, it grew to monstrous dimensions, as the government attempted to unfreeze the credit markets by handing out trillions to banks and hedge funds.
[Snip]
Now, following an act of Congress that has forced the Fed to open its books from the bailout era, this unofficial budget is for the first time becoming at least partially a matter of public record. Staffers in the Senate and the House, whose queries about Fed spending have been rebuffed for nearly a century, are now poring over 21,000 transactions and discovering a host of outrages and lunacies in the "other" budget. It is as though someone sat down and made a list of every individual on earth who actually did not need emergency financial assistance from the United States government, and then handed them the keys to the public treasure. The Fed sent billions in bailout aid to banks in places like Mexico, Bahrain and Bavaria, billions more to a spate of Japanese car companies, more than $2 trillion in loans each to Citigroup and Morgan Stanley, and billions more to a string of lesser millionaires and billionaires with Cayman Islands addresses. "Our jaws are literally dropping as we're reading this," says Warren Gunnels, an aide to Sen. Bernie Sanders of Vermont. "Every one of these transactions is outrageous."
(Excerpt) Read more at rollingstone.com ...
Matt Taibbi is a rare product ... an investigative journalist who actually investigates. He has been so hot lately that about the only news organization that will publish his work is Rolling Stone Magazine.
This lengthy article, typical of his recent output, is worth a read ... providing, of course, you don't stroke out before you reach the end.
ping for later
Taibbi did quite a stint in Moscow with the eXile. I agree that he’s a very good reporter, albeit with horribly tweaked lenses. I wish he could see how socialism enables his presumption of capitalist corruption.
If its in this Magazine then its socialist propaganda not worth my time to burn much less read.
Seriously, F Rolling Stone and F anyone who reads it.
Don’t be ridiculous. Seek the truth whereever you can find it.
Taibii does great investigative work.
What is worse than greedy executives to take their companies into the hold are their wives ! Or in the military, hell hath fury from the colonel’s wife !
“Sen. Bernie Sanders”
That’s enough for me.
Honestly, I suspect he is right on this.
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This is not at all surprising since assuring that a small group of uber-rich power-brokers have total access to, and total control over, the United States treasury was the sole reason the private bank called the "Federal Reserve" was formed in the first place (by an act of a crooked congress).
A book called "The Creature from Jekyll Island" provides an excellent account of the formation, development and operation of the Fed. It will almost certainly fascinate, frighten and enrage you if you take the time to read it.
GOP, are you listening (you've never heard any messages yet, so why do I even ask)???
Right back at ya!
“If its in this Magazine then its socialist propaganda not worth my time to burn much less read.
Seriously, F Rolling Stone and F anyone who reads it.”
_____________
okey dokey
pfff...
Thats just it... I do not believe that this rag can print the truth if it does not confirm their deeply held “religious” beliefs. Which means that you will seldom, if ever, find the “truth” in this POS periodical.
What you WILL find is a stream of obnoxious and overt socialist (dare I say marxist) propaganda. You will find half (im being generous here) truths and a misdirection of focus.
As far as the reporter... I lose nothing by instantly discounting him and any view he takes based solely on the fact that Rolling Stone Magazine believes he is suitable to print. F him.
Well, that is because they are very diligent about making campaign contributions. Some invitations for a weekend on the yacht too.
Yawn...
Taibibi is an excellent investigative reporter.
His problem is that he refuses to walk back the cat between the Democratic Party and Wall Street. He refuses to connect Goldman Sachs to Obama and the Left.
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