Pamela Geller’s site has a nice report and follow-up titled “FED BEGS FOR SECRECY ON FAILED BANK BAIL OUT”.
The argument the Fed is making is that if we knew what they were spending money on, without any oversight and approval from the people by the way, it would place undue stress on those banks.
Even those in Congress openly wonder how The Fed can spend billions without any approval, just by printing more dollars.
William Greider has an excellent article in The Nation where he explains the destructive and uncontrolled actions of this quasi-government body. Since the Fed has been in place, almost 100 years now, we have seen booms and busts, and persistent protection of bankers who are “in the club”. His prescriptions, in my view, do not go far enough, as he suggests we retain the money printing press … which will always be subject to political manipulation.
Read the article, Dismantling the Temple, and learn more. A bit of a left of center view, but worth a look.
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