Community | November 10, 2008 | 81 comments

Feds refuse to identify recipients of $2 trillion loans from American taxpayers

source: http://www.bloomberg.com/apps/news?pid=20601087&sid=aOngFPgq7r3M&refer=home

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SushiBandit
This has GOT TO STOP!!

The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn't require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.

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81 comments // Feds refuse to identify recipients of $2 trillion loans from American taxpayers

  • honusurf
    • 0
      honusurf  

    • Alright enough is enough- I just did it- I just bought some Citi. Go Citi- could bounce back up over $5 any day now! Time for shorting is OVER! Thanks I'll take that taxpayer money now!

    • 2 years ago
  • honusurf
    • 0
      honusurf  

    • I have seen the future guys- sorry to tell you I saw the Dow at 800 points! If we do not revolt now this is the end my friends! Burn Citi burn!

    • 2 years ago
  • Robroy1
    • 0
      Robroy1  

    • semsl2001 the fed keeps its own books and is accountable to no one. They are a private group of ultra rich bankers who are independent of the Government for all intents and purposes. Go to a search engine and enter "The History of the Federal Reserve" It is a real education.

    • 3 years ago
  • barium
    • 0
      barium  

    • all kidding aside, this is a bunch of BS.

      when they said that this bailout needed to happen, "swiftly", we complied.

      when they stated that there would be transparency, we complied.

      when they said that we the people would have a stake in what happened, that we'd be given some ownership, we complied.

      and now they won't reveal where some of the money is going? something is definitely up! they needed our permission up front, but not now?!

      what gives? what can we do? pressure congress or your congressman to get that information, or maybe even our new president-elect to make that information public.

      why does it have to get so bad before it gets good?...

    • 3 years ago
  • sesml2001
  • caracu
    • 0
      caracu  
    • Image

    • Oh the costs of living in a bubble, a cloud or something just plain to good to be true!!! I feel for the good people in America. Not to sound conspiratorial, but the Fed, the CFR, Trilateral Commission and The Bildenbergs must be very happy. Pauly Wolfy and his friends, the Bushie Bush and his oil pals. Paling around with terrorists in political US of A how dare you suggest!!!...uh, namely every politician has to sometime. Who could've known? Well a heck lot of people. Then again, this sounds too conspiratorial. So don't fear the guy who shot the attorney in the face and his peaceful ties with Halli-crap, bet ya it gave him lots of pocket change. Above all do NOT fear the Imperialist order that has ruled your country for too long, which not only benefits from the terrorizing of countries abroad (oh Chalmers points to it, Noam does so as well), but of it's citizens too, all for the good of the Homeland.

      Be well, live in peace and security without the fear imposed by the media and the BREAKING NEWS playing everyday. Oh yeah! Down with Gitmo and retrieve the troops from I R A Q, go and destroy Afghanistan and rid the world of dangerous extremist you once supported against the commies. While on the meantime find another place to attack like N.K., the REDS, the iranians and what the heck those demanding 1,321,851,888 people who hosted the olympics; hey let's even go back to all it's interventions in South and Central America (Chile, Belize)...man those guys are surely dangerous with those state of the art slingshots (I'm latino so I'm laughing at myself no pun intended to my own people).

      So sad yet so true, that on veterans day we celebrate brave people who gave their lives for the country (this I say honestly), but one dares to ask...what was it for? Or why in my years studying in America I got to see so many poor veterans strolling around on wheelchairs without the care they rightfully deserved. Heck I thank goodness my little brother will not enlist to fight for an idiot who wants to fill his pockets. America deserves better, its good citizens deserve redemption from the world's view on its government. An hopefully all of this will change, but I reckon it is far more complicated than just changing a commander in chief. If only it could be as perfect as the ending scene in Turtles Can Fly...Promoting peace while being the world's largest arms exporter...then again, by their fruits you shall know them. And now it seems it's taking it's toll at home.

      p.s. Sorry for straying out of topic, feel free to ignore.

    • 3 years ago
  • jkw077
    • 0
      jkw077  

    • If I refuse to tell you there is a scorpion on your back, do I have any role in you being stung?

      The media, most politicians, economists, and others are refusing to acknowledge the true structure, power, and history of the Federal Reserve Bank: It is a network of PRIVATE BANKS.

      Until Congress, the President, News Media, and Economists are held accountable for maintaining the theft started in 1913, it will never stop!!!!

    • 3 years ago
  • neckfire
    • 0
      neckfire  

    • Our financial system is in dire need of some sunshine.

      When the people running it cannot explain what they are doing clearly and insist on secrecy something is wrong.

    • 3 years ago
  • derwind
    • 0
      derwind  

    • Part of the Two Trillion is probably George Bush's severance pay. He added it on as a signing statement of the bail out bill.

    • 3 years ago
  • derwind
  • CalgarC
    • 0
      CalgarC  

    • HOLY SHIT 2 trillion dollars. it only take 30 billion dolalrs to fix world hunger and these giants get 2 trillion dollars

    • 3 years ago
  • barbara3d
    • 0
      barbara3d  

    • What can we do. Typing away here is not solving anything. I watched a bunch of "meltdown theories" on YOU TUBE that scared the #*($ out of me. We should try to organize a march on Washington. Something. We thought the AIG thing was bad as they take another trip to luxury land and get another 25 billion. Is it Nancy Pelosi or who is it handing out this money without congress being in on it. Is this part of the "executive orders" Bush has???

    • 3 years ago
  • bedeboop
  • jkw077
    • 0
      jkw077  
    • barbara3d:

      Whatever is to be done, it has to be done outside the world of binary code. What is happening to society is not happening on the internet, the internet is being used to control society though, in part.

      The time for emails and blogging is over...

    • 3 years ago
  • subsecret
  • bedeboop
    • 0
      bedeboop  
    • subsecret:

      Yeah we have been haven't we......one thing any government likes least is protests........time to have some I think. (Letters and phone calls are more to their liking...not in their face so much, less likely to become violent, people don't notice cuz they can't SEE the letters and phone calls....protests can be seen, can be heard and are an embarrassment) I'm for it. Time to embarrass them I think.

    • 3 years ago
  • didgeridooplyr
  • Katmai512
  • bedeboop
  • kevin_m_crocker
    • 0
      kevin_m_crocker  

    • Why is this not headline news on every major network channel??? Because the wealthy club protects their own. They do not want to be exposed.... and they will not be exposed. It is enough to make a non-wealthy thinking man shudder with fear!

    • 3 years ago
  • bedeboop
  • JesusReturningNews
    • 0
      JesusReturningNews  

    • Said To say Obama will cont... His Order. The Order New World Order , Which He or No one can do nothing about

      These ara our Day's , you haft to be smart global in your thinking & working or you will get hurt real bad

      As we well know The Million's of people out of Work & Homes. They not in No way's playing with us do or die.

      If you don't adjust you will die or cont... facing hard time's that eventually leads to Death if you can't adjust.!!!!!!

      P.S. These are very said Day's.!!!!!!

    • 3 years ago
  • WhiteNoise
    • 0
      WhiteNoise  
    • Image

    • CITIZENS 2.0 : PLAYERS, NOT CHEERLEADERS !

      "I am new enough on the national political scene that I serve as a blank screen on which people of vastly different political stripes project their own views." – Barack Obama / The Audacity of Hope

      Who are the Architects of Economic Collapse?
      Will an Obama Administration Reverse the Tide?
      http://www.globalresearch.ca/index.php?context=va&aid=10860

      Financial Meltdown: The Greatest Transfer of Wealth in History
      How to Reverse the Tide and Democratize the US Monetary System
      http://www.globalresearch.ca/index.php?context=va&aid=10589

      STOP JUDGING POLITICIANS ON WHAT THEY SAY BUT ON WHAT THEY DO !

      Politics, it seems to me, for years, or all too long, has been concerned with right or left instead of right or wrong. ~ Richard Armour

    • 3 years ago
  • tbowman131
    • 0
      tbowman131  

    • $2 Trillion... A number so huge it defies comprehension. I have a feeling that the only way we will be able to undo this massive transfer of wealth upward will be to kill the dollar and start fresh with a new currency...

    • 3 years ago
  • WhiteNoise
    • 0
      WhiteNoise  
    • Image

    • PLAYERS NOT CHEERLEADERS !

      Real Change Depends on Stopping the Bailout Profiteers

      The first order of business—and one that cannot wait until inauguration—must be halting the robbery-in-progress known as the “economic bailout.” I have spent the past month examining the loopholes and conflicts of interest embedded in the U.S. Treasury Department’s plans. The results of that research can be found in a just published feature article in Rolling Stone, The Bailout Profiteers, as well as my most recent Nation column, Bush’s Final Pillage.

      Both these pieces argue that the $700-billion “rescue plan” should be regarded as the Bush Administration’s final heist. Not only does it transfer billions of dollars of public wealth into the hands of politically connected corporations (a Bush specialty), but it passes on such an enormous debt burden to the next administration that it will make real investments in green infrastructure and universal health care close to impossible. If this final looting is not stopped (and yes, there is still time), we can forget about Obama making good on the more progressive aspects of his campaign platform, let alone the hope that he will offer the country some kind of grand Green New Deal.

      The New Trough
      The Wall Street bailout looks a lot like Iraq — a "free-fraud zone" where private contractors cash in on the mess they helped create
      http://www.rollingstone.com/politics/story/24012700/the_new_trough

      The Bailout: Bush's Final Pillage
      http://www.thenation.com/doc/20081117/klein

      http://www.naomiklein.org/articles/2008/11/real-change-depends-stopping-bailout-...

      Yes We Can!
      It’s Time for a Just Economy for All!
      http://bailoutmainstreet.com/

      CITIZENS 2.0 : PLAYERS NOT CHEERLEADERS !

      STOP JUDGING POLITICIANS ON WHAT THEY SAY BUT ON WHAT THEY DO !

    • 3 years ago
  • Psychedelic
    • 0
      Psychedelic  

    • Ron Paul and Barney Frank have called for an end to the Federal Reserve system and a return to the constitutionally mandated treasury controlling the money supply to prevent things like this from happening. Perhaps we should have heeded their call.

    • 3 years ago
  • damnneargenius
  • RedFoxOne
  • bedeboop
    • 0
      bedeboop  
    • RedFoxOne:

      As opposed to those "sheep" who live in other countries that also contributed to a bailout? Wondering where YOU live, especially considering the need to surf anonymously.

    • 3 years ago
  • Robroy1
    • 0
      Robroy1  

    • The Fed is nothing more than the Central Bank, it's old name before it renamed itself to look like it is part of the government and make it more official sounding. The government is not connected to the FED so the FED is not accountable to the government. I wish they would give me a billion or so (LOL).

    • 3 years ago
  • bedeboop
  • Moopak
  • bedeboop
  • bedeboop
    • 0
      bedeboop  

    • Go here:

      http://www.federalreserve.gov/

      Fill out the electronic FOIA form. There is a part that asks you how much you are willing to pay if there is more research needed. Ridiculous. I told them none as I believed my payment for research could be taken out of the bailout fund they have received from myself and other taxpayers. Sorry, feeling EXTREMELY sarcastic right now...but I did put that in there. Let's see what happens.

    • 3 years ago
  • uppityprogressive
  • intelligenceisacurse
  • JesusReturningNews
  • wildspirit
    • 0
      wildspirit  

    • The biggest federal crime in history, surpassed only by the criminal ripoff of the Iraq War! George sure made a lot of friends at our expense!

    • 3 years ago
  • godforbidtv
    • 0
      godforbidtv  
    • wildspirit:

      I don't understand how most Americans didn't realize what was going on. Look at my video about The Bail Out. I can't stand the fact that people don't get what is really happening when they ration our taxes out.

    • 3 years ago
  • bedeboop
  • WhiteNoise
  • godforbidtv
    • 0
      godforbidtv  

    • Obama is F'd no matter what he does. The only way he can come out on top is to cure AIDS and end hunger. If not, failure. Plus, his socialist leanings I think are a bit far fetched. But, if he cured AIDS I'd be a wild MOFO!

    • 3 years ago
  • nkeg87
  • godforbidtv
    • 0
      godforbidtv  

    • I really couldn't vote for Ron Paul because he's not very tough looking :) He was mauled in debates cause people spoke over him. But he is VERY smart and a real Republican!

    • 3 years ago
  • godforbidtv
  • kalypso123
  • damnneargenius
  • nkeg87
    • 0
      nkeg87  
    • damnneargenius:

      Ahhhh. Ron Paul. He was right on the money. Too bad those stupid Repubs didnt nominate him. I think he could've provided more of a challenge to Obama than McCain if he could've been given the chance to be heard. I would've vote for him.

    • 3 years ago
  • lordsbassman
  • illyB
  • kennymotown
    • 0
      kennymotown  

    • This will not stand, we must have accountability on this money are these crooks that big and important that
      this is the new get away car.

    • 3 years ago
  • illyB
  • standingchair
  • SushiBandit
  • AMCope
  • standingchair
    • 0
      standingchair  
    • standingchair:

      from wiki:
      The deal proposed by Paulson is nothing short of outrageous. It includes no oversight of his own closed-door operations. It merely gives congressional blessing and funding to what he has already been doing, ad hoc." - Robert Kuttner
      So, basically it was a blank check...
      but we didn't here that on tv now did we?

    • 3 years ago
  • Kepano
  • bedeboop
  • Armageddon_Now
  • standingchair
  • nessie00
    • 0
      nessie00  

    • Forget all other protests for the moment. Everyone should consolidate in Washington to protest this disaster happening right before our eyes. How dare they spend our tax dollars without pure transparancy? This is truely an outrage!

    • 3 years ago
  • bedeboop
  • SushiBandit
  • AMCope
    • 0
      AMCope  

    • Someones has to be really warm as they sleep in a mansion made out of 100 dollar bills as they keep warm from a fire burning Washington's head.

      I hope this doesn't happen again, the country was already hurt enough as it was, then they took more.

    • 3 years ago
  • lookatmypix
    • 0
      lookatmypix  

    • They pass the bill about the 700 billions and they vote NO. A couple days later they pass it again and they vote YES.
      This makes me wonder.
      If people would get together to initiate a law (bill) , it could be approved and rejected two days later.
      So much for the time and energy spent to create that in the first place.
      I don't see much of people in that decision, it's mostly our governement and it will always be untill someone puts a stop to it. Hopefully soon with Obama's presidency.

    • 3 years ago
  • ninepounds6
  • krush_productions
  • nkeg87
  • phillyphil
    • 0
      phillyphil  

    • one would hope that a bill passed (the bailout plan) which got more emails and phone calls from citizens than any before, would let the people in on its inner workings. the bailout passed even with public outrage and now its living up to villainous intent by hiding our money from us. while there was something needed to stabilize our economy, it does no good and is outright criminal if there is no transparency.... i am outraged, but sadly not suprised

    • 3 years ago
  • advertisehere
  • jkw077
    • 0
      jkw077  
    • advertisehere:

      Which is what everyone seems to be completely ignoring. If I refuse to tell you a scorpion is on your back, do I have a role in you being stung? --- The media, politicians, economists, everyone is refusing to acknowledge the true structure, role, and power of the Federal Reserve Bank, a network of PRIVATE BANKS!

      Until they are held accountable for maintaining the theft started in 1913, it is never going to stop.

    • 3 years ago
  • jkw077
    • 0
      jkw077  
    • advertisehere:

      If I refuse to tell you there is a scorpion on your back, do I have any role in you being stung?

      The media, most politicians, economists, and others are refusing to acknowledge the true structure, power, and history of the Federal Reserve Bank: It is a network of PRIVATE BANKS.

      Until Congress, the President, News Media, and Economists are held accountable for maintaining the theft started in 1913, it will never stop!!!!

    • 3 years ago
  • arcticspirit
  • damnneargenius
    • 0
      damnneargenius  
    • arcticspirit:

      Let me get this straight...

      The person with the screen name HolyCity and a picture of himself looking like a homeless guy on a bike is calling people batshit crazy?

      That's rich.

      Yeah, I'm sure Jesus wouldn't bitchslap you for that.

      What a tard.

    • 3 years ago
  • barbara3d
  • bedeboop
  • k8_hj
    • 0
      k8_hj  

    • Not really a fan of how this article seems to blame Obama. (he's not in office yet, we still have a Bush as Pres.) So why weren't "calls" put in to Bush? He's still running the show.

    • 3 years ago
  • SushiBandit
  • samthesixth
  • HolyCity2012
  • ChieftanMews
  • NYChris
  • necrotized
    • 0
      necrotized  

    • Two. Trillion.

      It's utterly incomprehensible as to why this would be allowed to happen.

      Almost 8 years and we're finally shifting from fear of 'The Terrorists' to our own Government.

    • 3 years ago
  • illyB
    • 0
      illyB  
    • necrotized:

      It's allowed because there is absolutely ZERO oversight for the Federal Reserve. It's allowed because We the People have not collectively revolted against the so called powers that be including our own government that perpetuates and thrives upon the situation.

      Thomas Jefferson and many other founders warned us against the dangers of central banking. The Federal Reserve, which is not federal but is in fact a private entity, now owns our country and enslaves each and every person that is forced to use fiat paper money that has NO REAL VALUE because the Peoples' gold was stolen by Franklin Delano Roosevelt. Do a little research into the history of central banking and be prepared to be terrified.

      Tell everyone you know about this and explain the severity of the situation. There are plenty of resources on the matter and for a brief intro into it there are quite a few good videos on you tube from the Von Mises institiute and Lew Rockwell and Ron Paul and so forth.

      Sadly enough this is not just a conspiracy. It's all real. We are in a new age of globalism and to see it all you have to do is open your eyes. As Thomas Jefferson once said "Question with great vigor all things, even the existence of God."

    • 3 years ago
  • Ihatethemall
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