[[ Banksters Rally Round Fed To Keep Bailout Trillions Secret ]]
Steve Watson
http://www.infowars.net
Thursday, April 15th, 2010
The largest commercial banks in the U.S. are ready to go all the way to the Supreme Court to block the public release of details pertaining to the Federal Reserves 2008 secretive $2 trillion bailout.
Bloomberg News reports that The Clearing House Association LLC, a group that includes Bank of America Corp. and JPMorgan Chase & Co., have teamed with the Fed to rally against a lawsuit, brought by Bloomberg itself, to disclose records of the Feds emergency lending.
The fight for disclosure has been ongoing following the Feds failure to comply with congressional demands for transparency.
The Fed has consistently refused to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank accepted as collateral.
A New York District ruling last August declared that the destination of around $2 trillion dollars in bailout funds must be revealed after the Fed failed to convince the Judge that the records should be exempt from the Freedom of Information Act.
Citing the fact that the US taxpayer is an involuntary investor in the nations banks, Bloomberg argued that the risks behind the $2 trillion in lending needed to be made public.
Following more stalling, a further ruling by the U.S. Court of Appeals in Manhattan on March 19 ordered the central bank to release the documents. The Fed once again argued that disclosure would be harmful to its independence, would stigmatize borrowers and discourage banks from seeking further emergency help.
Our member banks are very concerned about real-time disclosure of information that could cause a run on the banks, said Paul Saltzman, the group of banks general counsel, in an interview yesterday. Were not going to let the Second Circuit opinion stand without seeking a review.
If the appeal for a review is turned down, the bank group will then petition the Supreme Court, Saltzman added.
Banks incorporated by the New York-based Clearing House group also include Citigroup Inc., Bank of New York Mellon Corp., Deutsche Bank AG, HSBC Holdings Plc, PNC Financial Services Group Inc., UBS AG, U.S. Bancorp and Wells Fargo & Co.
The Fed Board of Governors refusal to disclose the names of borrowers renders public oversight of its actions impossible — it prevents any assessment of the effectiveness of the Boards actions and conceals any collusion, corruption, fraud or abuse that might have occurred, Bloomberg states in a letter to the appeals panel.
The amount of US taxpayer money committed to bailouts since 2007 is thought to be close to $25 trillion. The figures by far exceed the combined cost of major historical events, accounting for inflation, dating back over 200 years.
Taxpayers have been left completely in the dark as to who has received the money and what they are doing with it.
The public has watched in disbelief for close to eighteen months as Federal Reserve Chairman Ben Bernanke has arrogantly refused to state where any of the bailout money has gone, despite repeated questioning during Congressional and Senate hearings.
There is no accounting for the spending. The Federal Reserve, which is owned and run for the most part by European banking elites, has never been audited and is accountable to no one, as former chairman Alan Greenspan has explained:
http://www.infowars.com/banksters-rally-round-fed-to-keep-bailout-trillions-secret/
Duration : 0:10:2
[youtube RG1VPtseN9I]
Comments
Be naughty with …
Be naughty with people near you mworld5.info
“Go on and blow up …
“Go on and blow up a building” wow Alex. Thats really sick.
@Stepper11….. …
@Stepper11…..hahaha! svveet!
Donut shops pose a …
Donut shops pose a problem for their understaffed departments, too, but are those being closed? Errr….I guess those are marked for destruction too as the nanny state tightens its control over what we eat.
84% of American …
84% of American and the world knows that 911 was a inside job Alex but no one haves the balls to do anything about it ….. sometimes it looks like its to late
Limbaugh, Murdoch, …
Limbaugh, Murdoch, CNN & ALL OF NEOCON MEDIA have ONE GOAL, and that is to keep the Two Party Fascist Corporate-Owned System going, they want ALL Americans to be Divided ONLY as Democrat or Republican, they know Obama is doing everything they want and they are on Obama’s side & Obama is on their side, but they have to ACT like Wrestling Actors, ACT like they hate each other. US Politics is Fake Wrestling & Acting, No 3rd parties allowed, No Democracy allowed.
Game over scumbag! …
Game over scumbag! Forget it TRASH, ITS OVER TRASH lol classic
The “debate is over …
The “debate is over”. The federal government works for the private banks and we must correct this now.
RON PAUL 2012!!!
RON PAUL 2012!!!
@ …
@exquisiteinvestment YOU’VE GOT ISSUES!!!!!
@MrShotgunjim …
@MrShotgunjim because nasa & the us govt have paid people to post diss info posts to squall the subject. the pole shift & planet x is 100x a more important story then anything alex talks about. dont get me wrong, what alex talks about is very important, but the pole shift just blows all else out of the water.
SCUM ! LOL
SCUM ! LOL
@ …
@paulkielsmithdotcom Okay, so why have the comments for that video been disabled?
@ …
@TheAlexJonesChannel, sounds like you are getting really upset to the point you are starting to sound uneasy, I know what the government is doing is wrong and it’s getting to you but dont let them get to you because they’ll win without even trying, keep your cool man, but defeat them while keeping your cool
IMO alex is a shill …
IMO alex is a shill since he wont cover this story at all.
/watch?v=y_k9hJeubGc
I just love Obama!
I just love Obama!
As anyone else …
As anyone else notice tht the news on AOL . COM dont allow you to comment on them ? its been like this for a while now and the reason they say their doing it is to fix the commenting system so its easier to comment. im thinking is cause they dont want ppl to discredit the bullshit they put on tht site, em!
fuck the cops, …
the cops, the feds. the IRS, love my guns and my patriot friends. Thanks Alex
And all the good …
And all the good cops out there, keep goin’, and encourage your peers to be fluent with the constitution.
hey all u scummy …
hey all u scummy cops out there, go read the constitution u fucks.
Happy Tax Day!
…
Happy Tax Day!
Invisible Empire is released!
watch?v=FeDSKzp-br4
Don’t forget to buy the full DVD at prisonplanet =)
Thank you, Jason and Alex!