Bernie Sanders Fed Audit (prepare yourself to be ticked off)

[formerlurker]

lovuian (17,921 posts)

Bernie Sanders Fed Audit (prepare yourself to be ticked off)


 
here is the Fed Audit folks by the GAO
http://www.sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

It seems are tax dollars have gone to banks over seas

"As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."


Among the investigation's key findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. "No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president," Sanders said.

For example, the CEO of JP Morgan Chase served on the New York Fed's board of directors at the same time that his bank received more than $390 billion in financial assistance from the Fed. Moreover, JP Morgan Chase served as one of the clearing banks for the Fed's emergency lending programs.

In another disturbing finding, the GAO said that on Sept. 19, 2008, William Dudley, who is now the New York Fed president, was granted a waiver to let him keep investments in AIG and General Electric at the same time AIG and GE were given bailout funds. One reason the Fed did not make Dudley sell his holdings, according to the audit, was that it might have created the appearance of a conflict of interest.

To Sanders, the conclusion is simple. "No one who works for a firm receiving direct financial assistance from the Fed should be allowed to sit on the Fed's board of directors or be employed by the Fed," he said.



After 100 years ...we find that the FED is corrupt and out of control

we didn't authorize the Fed to bail out corporations and banks over seas with US tax dollars and they expect the American people to delay their Social Security and cut Medicaid and Medicare because of Feds policies


Its over the Fed has to be restrained

http://www.democraticunderground.com/10021250603


Bernie Sanders + Ron Paul = match made in freak show heaven. 


Very large bonfire of total hypocrisy. 

[formerlurker]

xFiFtyOnE (7 posts)
6. Harry Reid is blocking a senate vote for an audit of the Fed.

Ron Pauls bill to audit the Fed passed the House and Harry says he won't let the bill see the light of day in the Senate. Kind of odd he opposes an audit of the Fed now, their is video of him on Youtube as recently as 2 years ago calling for an audit of the Fed. But now since the anti-Fed push is coming strong from Republicans he must play blue team vs red team despite the good of the American people.

LSK (36,585 posts)
20. You DO know that the Majority Leader has to vote with a filibuster to bring it back up again

Skip Intro (16,956 posts)
187. Why is that? Why is that? Why is that? Why is that?

Do we not have a right to know what this non-governmental agency is doing with our money?

Do we not have a right to ask why we do not control our own money?

Do we not have a right to ask why this agency doesn't require the approval of the president or congress to take action and form policy?

I'm with Paul on this.

This Audit the Fed bill passed the House. Reid has said he supports the idea. Why is he blocking it now?

Why is that?

Delicious.

[formerlurker]

The stand-alone quote that gives poster consideration for DOTY:

fascisthunter (27,865 posts)
33. I am a keen observer, and one thing I will not tolerate is dishonesty

Last edited Sat Sep 1, 2012, 08:15 PM USA/ET - Edit history (1)

especially here on DU. There are frauds here and I want them banned. I make no secret of how I feel anymore, because doing so, does no good at all.

PS... do not agree with me, to protect yourself.

He;s on to us..... he's on to us.... hide your beer money....  run away.... 

[SSG Snuggle Bunny]

xFiFtyOnE (7 posts)

6. Harry Reid is blocking a senate vote for an audit of the Fed.

You just can't trust those Mormons.

[formerlurker]

Warren DeMontague (38,545 posts)
14. Ron Paul is a ****ing nut.

 

sabrina 1 (28,891 posts)
52. How about Bernie Sanders and Alan Grayson? Are they nuts too?

 

Warren DeMontague (38,545 posts)
53. Ron Paul is a ****ing nut.

 

Zalatix (7,184 posts)
62. You did NOT answer the question. How about Bernie Sanders and Alan Grayson? Are they nuts too?

 

Zalatix (7,184 posts)
110. We have a very schizophrenic situation on the DU.

On one hand you can be PPR'd for expressing right wing opinions.

On the other hand you can spout right wing opinions all day long and say "this is an all-inclusive, big tent party".

It's turning into a house built on WILDLY shifting sands.

 

Oh for fun. For fun.

[formerlurker]

I want it noted for the record that sabrina numbers is asserting herself as the classroom bully in this thread.    A poster makes an obvious observation that Ron Paul is ****ing nuts, and she hounds and harrasses him to no end.


Very sad day for the DU.   

[JohnnyReb]

You just can't trust those Mormons.

They control all the crickets.

[obumazombie]

The FED absolutely needs to be reined in.

[Airwolf]

Don't you love how the yare upset that Dingy Harry Reid won't let the bill pass to investigate and he is ONE of theirs .