Friday
Aug242012
There Are No Words To Describe The Following Part II
WHO IS KEEPING TRACK OF THE TRILLIONS?
Alan Grayson questions the Inspector General of the Federal Reserve - 05/09/10
Circulate Far and Wide.
Our only hope to stop the heist will come from greater awareness.
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WHO IS KEEPING TRACK OF THE TRILLIONS?
If you're in a hurry, start watching at the 3-minute mark. At issue is the accounting and oversight for $9 trillion in secret Fed bailouts of Wall Street banks, for which taxpayers are ultimately responsible to the tune of $32,000 for every man, woman and child in this country. Fed audit, anyone?
Aug 24, 2012 at 3:44 PM
Reader Comments (677)
To the Daily Bail bloggers: I can't thank you enough for all the information you give on this topic. The fact that it is not all over the MSM is dumbfounding. I am speechless about it. I have referred many to your website and hope many more will start taking an interest in what is happening with their money. Excellent work!
http://dailybail.com/home/there-are-no-words-to-describe-the-following.html
Warning: profanity
It is not her job to know what the individual reserve banks lend, as they lend it. Is _is_ her job to manage and carry out a process of audit on that lending, once its effects have been recorded.
He's a grandstanding idiot. She's being asked questions that are nothing to do with her job.
It is currently the #5 story on Reddit.
It is important that as many people as possible see the shocking lack of oversight at the Federal Reserve.
That means she's responsible for investigating where the fuck all this off-balance (lost) money went. She is completely avoiding the question, and neglects to give a single solid piece of useful information other than saying "we are conducting an investigation." And she says this, because it is HER FUCKING JOB TO CONDUCT AN INVESTIGATION. Moron..
I caught a little Spitzer the other morning, according to him, Giethner said in March, "I've never been a regulator..." (we're doomed)
I'm just going to pretend that futuregasm was being sarcastic (because people that dumb can't type, right?)
That's pretty much what I would have said anyway.
Two big problems with that...
1. She didnt refute the area of responsibility to audit the Federal Reserve, in fact, she clarified the role as applied to Federal Reserve Board of Governors - specifically mentioning direct oversight of board programs and operations, and oversight and supervision of the board over the reserve banks.
2. She did not answer who or what groups are directly responsibile for auditing these programs implemented by the Federal Reserve Banks, or why one hasnt been adequately done.
So even if a direct audit is beyond her responsiblity, ensuring that proper auditing is part of important Board programs and proceedures is definately within her role and responsiblity. Considering theres adequate reasonable doubt resulting from lack of this information, the fact that it hasnt been corrected or carried out by the Board means its an area of her concern. The separation doesnt matter for not holding that group responsible to accountability, and she isnt doing it.
The country doesn't need a new class of citizens; the country needs a massive influx of common fucking sense* drilled directly into every man woman and child.
*'Common fucking sense' is, in fact, a much stronger (i.e. more firmly rooted in reality and logic) version of the typical 'common sense' that no one has anyway so this footnote, which is in the entirely wrong place, and its intended basis of comparison is completely moot.
There is so much job specialization now that no one in any given massive bureaucracy has any idea who's looking at what let alone who happens to be dropping some kids off at the pool while an investigative hearing is going on. That is especially evident here. No one understands WHY anyone does a particular thing in any organization any longer (my own corporation included) because everyone and their mother has had their eyeballs gouged out by the idiot-producing corporate machine. The next time someone tip-toes around a word like 'investigation' because of its negative connotations I think I might just activate a few latent genes so I can telekenetically bitch-slap them from 1000 miles away. This kind of corporate weenie speak only breeds disinformation and eventually nets a complete lack of understanding of a given situation. Disinformation and lack of information are only guaranteed processes used in the modern corporate (and government) machine, and it was initially to try to keep employees happy by not showing any uncertainty. Now all the grown-up idiots that can't see beyond the bottom line are running companies while half of them probably don't even understand what their company does to make money in the first place, let alone why that bottom line might not match what their general ledger says. Ignorance is bliss!
Now, no one wants to know why they do anything because it just makes their lives slightly more complicated. God/Satan/Bhudda/Shiva/SpaghettiMonster forbid someone actually stands up, looks over their 4-foot-tall cubicle wall and attempts to understand just what the ultimate goal is of the cacophony around them because it might just empower them to take some goddamn responsibility. People accept their blinders, go on about their immediate business at hand, throw on their ipod headphones and shut out everything surrounding them. After a long-enough period of time, the brain stops asking 'why' entirely and we end up in the exact position we're in now. A herd of cubicle sheep in a boat large enough that would make Noah turn to atheism, floating down shit creek with 300 hundred million paddles, but no one wants to take the responsibility to actually USE one because they just might steer the wrong way and then they'll be blamed and then no one will like them and then they'll be all alone or in jail and they'll have rotten tomatoes thrown at them and OH MY GOD WE'RE ALL GONNA DIE BECAUSE I CAN'T TAKE THE RESPONSIBILITY OF USING ONE FUCKING PADDLE OUT OF THREE HUNDRED MILLION OF THEM BECAUSE I'M TOO SCARED TO TRY BECAUSE I MAY GET A SPLINTER!!!!!!'
Now because no one can accept any responsibility for themselves or anyone else, people assume someone else will be responsible for them. In comes the loving, caring government to fill that gaping parental void! So we end up with one stinking mass of sweet, special, unique refugee-grade* citizens with an extreme case of entitlement, the patience of a critical-mass chain reaction and maybe enough collective sense to tie a shoe. Oh and the one or two people that were just intelligent enough to take advantage of the idiots who subsequently ran off to a tropical beach to sip mai thais while counting their billions.
*I apologize for insulting refugees all over the world who would jump at the chance for a good day's work for reasonable pay by comparing them to a group of people that have a less-than-zero work ethic and still expect (and sadly get) everything handed to them anyway.
One part lack of understanding plus one part lack of testicular fortitude plus one part apathy plus 290 million parts of Stupid = The United States of America circa 2009. Solve for WHY.
As for Coleman, she couldn't explain anything. Even if the senator was wrong, she should have been able to explain the extent of off-balance sheet transactions. She didn't know enough to even counter his questions.
For that matter, when did the "Bush Era" actually end? We've got Gates at Defense (sic), Neel "The Executioner" Kashkari just put the finishing touches on Paulson's bailout plan, Bernanke is still at the Fed (Why, O Lord, why?)...
When it comes to screwing the taxpayer and giving us the bill for the banksters' screw-ups, I'm just not seeing much "change."
Question is, What the hell are we going to do about it? I mean, why are we handing out bailouts to these suckers -- we need to start prosecuting some people and take back our money.
Write your congressman asking him/her to support Congressman Ron Paul's bill HR-1207 "Federal Reserve Transparency Act" (currently 179 co-sponsors). America needs the Federal Reserve to be held accountable to the people!
http://seekingalpha.com/user/234152/comment/514676
http://news.yahoo.com/s/bloomberg/20090512/pl_bloomberg/aosb9zlt_ive_1/print
Duh.
Dang! the government is over $11 trillion in debt now...tats $7 trillion dollars of MORE DEBT in only 7 years..is ther anyone in Congress tat has ba!!s? tis crap of spend...spend...spend has to stop.
http://dailybail.com/contact-washington/
Or just go to http://senate.gov and http://house.gov
I agree with you completely. Take a look at what we have written about the debt and deficit so far.
http://dailybail.com/home/land-of-the-free-and-home-of-the-broke-the-united-states-of.html
and this one as well:
http://dailybail.com/home/bailout-the-united-states-treasury-the-last-remaining-asset.html
to congress.
My experience in one brief semester in U of Md. convinced me that hundreds of thousands of Federal Employees are not doing their job.
The disturbing part is what happened after these revelations?
After Bear Stearns, the FED opened a $75 to $200 bil. Line of Credit for District 1 PD’s. (Unregulated New York Private Banks). ( See Fed Reserve Press Releases)
Did the NY Banks use FED funds for secret Oil speculation and drive Oil to $150?
Comptroller of the Currency- Off-Shore Banking & Fraud div. opened investigation 9-08.
Oil prices plummeted.
Were TARP 1 funds secretly used to pay Margin Short Calls for unregulated NY Banks?
Did the FED bankroll, and Treasury Bail-out the Oil speculation scam?
The NY Bankers made the Money. The Taxpayers paid?
I reread this Blog and must elaborate.
After the FED opened the LOC to the Dist. 1 PD’s, I contacted:
Federal Reserve,
FDIC,
Senate Banking Committee
House Financial Services
The President
U.S. Office of Special Counsel
Office of Inspector General. Federal Reserve System
BOA
Wachovia
NY Times
Squawk
WSJ
Comptroller of the Currency
,,,,,Asking, Who was regulating the NY Private Banks? And,
Were they using the FED funds for Oil Speculation?
No one knew. ( Some said they would check, and let me know. No Response.)
In summer of ‘08 an official with the Inspector General of the FED said,
They didn’t know who regulated the PD’s, and
They were still trying to figure out what the FED did with Bear Stearns.
After several exchanges, the OCC said they opened an Off - Shore Fraud Investigation.
( I don't know, but I hope that was productive. )
It’s really discouraging that some comments on this blog indicate that some folks Don’t seem to care about regulation on use of FED Funds , or if anyone knows where the money went.
Or , Maybe, they are part of the Wall Street gang that doesn't want anyone to know what they did,,,, or are doing.