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Federal Reserve Board Members Gave Their Own Banks $4 Trillion in Bailouts
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[quote:Anonymous Coward 6493463:MV8xODk4OTY4XzMxNzM4ODI3XzVDOEYzNUM4] [quote:No Dhimmi:MV8xODk4OTY4XzMxNzM3MjE1X0NDNTg5MkE3] And in Europe: . . .you essentially have bankrupt countries pledging money to a fund which comes in and rescues the very same bankrupt country. This money is then used to buy the sovereign debt from the banks to help liquify the banks. These countries want the ECB to get involved in backstopping everything. http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/2012/6/14_Norcini_-_European_Crisis_%26_Bullion_Banks_Capping_Gold.html [/quote] Meanwhile someone is getting rich. Usually it's the middle man, the trader, the dealer, the go-between, the guy who plays both ends, the guy who says "you two people can't trust each other, you need to go through me". I.e., bankers and traders. Get those people off the face of the earth! Please. [/quote]
Original Message
Following the 2008 financial crisis, the Federal Reserve provided more than $4 trillion in near zero-interest loans and other help to banks and businesses whose executives also served as directors for the national bank.
At least 18 current and former Fed regional bank directors had a direct stake in the trillion-dollar bailout given to teetering institutions, according to a report produced by the Government Accountability Office, but released by Senator Bernie Sanders (I-Vermont).
“This report reveals the inherent conflicts of interest that exist at the Federal Reserve,” Sanders said in a prepared statement.
“At a time when small businesses could not get affordable loans to create jobs, the Fed was providing trillions in secret loans to some of the largest banks and corporations in America that were well represented on the boards of the Federal Reserve Banks.”
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link to www.allgov.com
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