This is not the same case as Mark Pittman's FOIA request to the Treasury for Citigroup asset-guarantee details. The issue here is much larger in scope and would require the Federal Reserve to disclose information on all emergency programs and recipients.
This is the real transparency test.
Story inside. Plus legal briefs. And 2 videos - one new, one classic. Very classic.
Video: Dylan Ratigan with TARP Inpsector General Neil Barofsky - Oct. 26, 2010
Ratigan starts out hot, though Barofsky won't take the bait. Fed transparency, Mark Pittman, the Citigroup asset guarantee, lies from Obama -- it's all in here.
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Why not use a trillion of the Fed's QE to buy some global natural resources instead of treasuries. But that's not our style. We run deficits to bail and stimulate a deleveraging economy that will not revive, while China buys the globe.
We borrow money from our grandchildren to bailout banks, insurers, hedge funds, private-equity shops, car companies, states, unions, houseowners, new car buyers, new house buyers. Meanwhile China is using its surplus to buy every natural resource that's for sale, anywhere.
And not one word from Obama or anyone in Washington. We are so supremely fubar in the long run, exhibiting the mass insanity of all empires in decline. Fighting wars, spending massively, encouraging consumer debt, monetizing the national debt and destroying the greatest currency history has ever known - the once mighty U.S. Dollar.
Bernanke's speech from yesterday morning.
The latest ugly news for Bank of America is actually coming from Europe, where big institutional money managers and other mortgage securities buyers are now beginning to organize for an assault.
Another taxpayer rip-off courtesy of Tim Geithner, who just so happens to be the subject of a unique video included with the story.
Oct 27, 2010 at 4:14 PM
