Fully Transparent Federal Reserve Comedy: Congratulations America! You Own Bankrupt Red Roof Inns
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Video: Alan Grayson explores Maiden Lane assets -- May 6, 2010
Have you seen this beauty yet? It's everywhere. Albeit painful, it's extremely entertaining, and we've transcribed the best quotes for those who can't watch. Share this one on Facebook or email it to millions of friends, whatever works best for you.
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There is still time to put pressure on the Senate to reject the Sanders' sellout, and support an aggressive audit of the Federal Reserve.
Call your Senators @ 202-224-3121 and tell them 'NO' on Sanders and 'YES' on Vitter's amendment, which has the exact same language as the Paul-Grayson House bill.
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- "Let's find out once and for all who owns the hotels, who owns the houses, and let's try and put this wild beast that creates money out of nothing and jams it in the pockets of special interests like Maiden Lane, like Bear Stearns, like JPMorgan, like all their friends. Let's put them under some degree of restraint before it all comes crashing down, on us."
- “I want to congratulate the gentleman and, in fact, everyone in America, because you now own a hotel chain. Congratulations! It’s this one, right here [pointing to poster board]. You own the Red Roof Inn.
- Now, I know what you’re thinking. You’re thinking, ‘that’s funny, I don’t remember buying the Red Roof Inn,’ but the Federal Reserve Bank, in it’s wisdom, has done it for you. The Federal Reserve Bank has seen to it that you have the pleasure of ownership of this delightful chain of hotels that extends from sea to shining sea. You, America, you are now the owners of the Red Roof Inn chain. Congratulations!”
- "The Federal Reserve became the sucker of last resort. And in doing so, the Federal Reserve made you -- you, America! -- the sucker of last resort."
- “You’ll have enough to put a hotel on Marvin Gardens, on Park Place, and probably on Boardwalk, too! You’ll own all the hotels in America, and isn’t that something?”
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UPDATE: Grayson has issued an official response to the Sanders compromise amendment:
"If Senator Sanders's Federal Reserve Transparency Amendment passes in its current form, as we hope and expect, then America will finally find out about every secret bailout and 'help for our friends' slush fund established and perpetrated by the Federal Reserve in the past three years," said Grayson. "Yet when it does pass, the Sanders Amendment is only a partial victory. The most important improvement over what the Sanders Amendment offers would be to subject the Fed to audit for what it does going forward. To say that America can learn about only what the Fed has done already is like trying to drive a car by looking only in the rearview mirror.
"The Fed is an institution that has the power to hand out hundreds of billions of dollars on a whim. Because of that power, the Fed must always be subject to independent audit -- completely, and without reservation."
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May 10, 2010 at 1:16 PM
Reader Comments (54)
South Korea has always been a puppet government, nothing more.
What I DON'T understand about these hearings is all the undue civility I see. Particularly when the respondee is obviously evading the answer or going off on tangents. Wouldn't it be fair to YELL at such a person, "ANSWER THE QUESTION, YES OR NO?!?!?" instead of allowing them to ramble on?
And it would be even MORE effective if the panel had the authority to say, "bailiffs, TAKE HIM/HER AWAY!' if the douchebags are evasive or belligerant.
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I'd vote for that rule...