The Fox Watching the Henhouse
Rep. Alan Grayson Questions Fed Inspector General Elizabeth Coleman on the $9 trillion in off-balance sheet transactions.
Elizabeth Coleman: "We are in not a position to say if there are losses."
Grayson concluded, "I am shocked to find out that nobody at the Federal Reserve, including the inspector general, is keeping track of this."
The Bloomberg report on the $9.7 trillion in pledges that would be enough to send a $1,430 check to every man, woman and child alive in the world. It's 13 times what the U.S. has spent so far on wars in Iraq and Afghanistan, according to Congressional Budget Office data, and is almost enough to pay off every home mortgage loan in the U.S., calculated at $10.5 trillion by the Federal Reserve.
Comments (3)
DJF
But if the FED did not step in then how could the politically connected incompetent bankers buy up the non-politically connected incompetent bankers and then use their combined government derived assets to drive the competent bankers out of business?
Also I question the figures for the Iraq and Afghanistan war, I think that is just the supplementary budget appropriations, it does not count all the money coming out of the “normal” federal appropriations that is also spent on the war
Published: June 6, 2009 6:57 AM
Bruce Koerber
Money and Ethics
Friday, May 15, 2009
The "Fox In The Chickenhouse" Government Statistics!
The deliberate fudging of the economic data by the unConstitutional coup keeps the American people in the dark. If the true magnitude of all of the economic 'aggregates' were known there would be such an outcry that every elected Representative would commit political suicide if they did not support the effort to audit the Federal Reserve!
The same thieves who benefit from the counterfeiting by the Federal Reserve are the ones in charge of the government 'statistics.' The fox is in the chicken house!
Published: June 6, 2009 11:58 PM
David Spellman
..almost enough to pay off every home mortgage loan in the U.S., calculated at $10.5 trillion by the Federal Reserve.
That would have solved the mortgage crisis, now, wouldn't it have? Instead of flushing the money down the banking toilet, we could have given the taxpayers something to show for the extortion.
People vote for politicians who promise something for nothing. Think of how much more popular Bush and Obama would be if they paid off everyone's mortgage. Even I would be tempted to vote for someone who gave me a free house.
Ah, but I think the plan is to keep us enslaved to debt. So the money gets handed out to people on some other basis. And it is unaccounted for with good reason.
Published: June 7, 2009 1:34 PM