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I'm on NNT forever--discuss (bonus financial topic--where's the money going?)

footballhenry

By footballhenry
in The Tailgate

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footballhenry

footballhenry

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It astounds me that our leaders, and us as a people allow this institution to continue its havoc of our monetary systems. I've posted two links where I pulled up articles on 2 TRILLION (thats with a capital T now) dollars that the Federal Reserve will not release what they did with it. I've read some sources that allege that it may even have been 'lost'. Please keep in mind that this is money that could quite literally bailout the American People directly (yes I'm speaking of giving the citizens a second chance by paying off their collective credit card debt or mortgages or SOMETHING; at least it would be going for a direct good cause instead of being so widely abused like it is).

Who Got That $2 Trillion? Fed Won’t Tell

By Ken Silverstein

From Bloomberg:

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.

“The collateral is not being adequately disclosed, and that’s a big problem,” said Dan Fuss, vice chairman of Boston-based Loomis Sayles & Co., where he co-manages $17 billion in bonds. “In a liquid market, this wouldn’t matter, but we’re not. The market is very nervous and very thin.”

Bloomberg News has requested details of the Fed lending under the U.S. Freedom of Information Act and filed a federal lawsuit Nov. 7 seeking to force disclosure. The Fed made the loans under terms of 11 programs, eight of them created in the past 15 months, in the midst of the biggest financial crisis since the Great Depression.

http://harpers.org/archive/2008/11/hbc-90003834

http://www.economicpopulist.org/?q=content/fed-refuses-tell-who-they-gave-2-trillion-dollars

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BleedBNG

BleedBNG

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http://www.bloomberg.com/apps/news?pid=20601087&sid=aatlky_cH.tY&refer=worldwide

President-elect Barack Obama's economic adviser, Jason Furman, also didn't respond to an e-mail and a phone call seeking comment from Obama. In a Sept. 22 campaign speech, Obama promised to ``make our government open and transparent so that anyone can ensure that our business is the people's business.''

Banks oppose any release of information because it might signal weakness and spur short-selling or a run by depositors, said Scott Talbott, senior vice president of government affairs for the Financial Services Roundtable, a Washington trade group.

In an interview Nov. 6, House Financial Services Committee Chairman Barney Frank said the Fed's disclosure is sufficient and that the risk the central bank is taking on is appropriate in the current economic climate. Frank said he has discussed the program with Timothy F. Geithner, president and chief executive officer of the Federal Reserve Bank of New York and a possible candidate to succeed Paulson as Treasury secretary.

``I talk to Geithner and he was pretty sure that they're OK,'' said Frank, a Massachusetts Democrat. ``If the risk is that the Fed takes a little bit of a haircut, well that's regrettable.'' Such losses would be acceptable, he said, if the program helps revive the economy.

Frank said the Fed shouldn't reveal the assets it holds or how it values them because of ``delicacy with respect to pricing.'' He said such disclosure would ``give people clues to what your pricing is and what they might be able to sell us and what your estimates are.'' He wouldn't say why he thought that information would be problematic.

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Predicto

Predicto

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How do you get the idea that 2 trillion was "lost or misappropriated" by the Fed based on this article?

The article says that the Fed is not announcing who is taking the loans because that might cause a run on the banks that do so.

You may not like the way the Fed is doing things, but your thread title is completely misleading.

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footballhenry

footballhenry

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I've told youse guys and I've told youse guys. Learn to start threads in compliance with the rules. :)

So let me get this straight. You put restrictions on my account 'forever' (thats quite a while you realize?) because I made a mistake? I mean good god were HUMAN BEINGS and susceptible to mistakes once and a while. If you look at the entirety of my account here for the past 5 years I hardly ever make such errors, but yet you take it upon yourself to erroneously judge me so harsh because I mistyped? Give me a break.:doh: This is a forum for communicating...Christ were all Skins fans anyway...I just don't get it.

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footballhenry

footballhenry

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yes, the fed and all its supporters are the ghey.

Question for you and the Mods around these parts. If posters went around using terms 'the black' or 'the asian' or 'the ____' would anyone take offense?

Just asking because homophobic slang gets tossed around here ad nauseum yet I never hear a word from the Mods about, but by God when a poster messes up a thread look out! Seems kinda ironic:rolleyes:

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Jumbo

Jumbo

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So let me get this straight. You put restrictions on my account 'forever' (thats quite a while you realize?) because I made a mistake? I mean good god were HUMAN BEINGS and susceptible to mistakes once and a while. If you look at the entirety of my account here for the past 5 years I hardly ever make such errors, but yet you take it upon yourself to erroneously judge me so harsh because I mistyped? Give me a break.:doh: This is a forum for communicating...Christ were all Skins fans anyway...I just don't get it.

Including the "colorful" PM you sent (that I just now got to reading--and btw, you weren't "banned" as you stated in your PM), the red highlight above is the only thing you've said that I can relate to. Oh, and no, though we all hear it from about 30% of the people who receive a moderator action, there isn't any "personal vendetta" against you.

Personally, I don't even have much awareness of you other than what other staff have told me (which wasn't flattering).

The "forever" wasn't literal, but it's tempting and I have a lot of support. :)

TK told you all you're going to get to hear when he answered your request for us to tell you what you did. This isn't your first NNT, or even your first interaction with a mod. It's all on you now to figure out what you did wrong and PM us when you do. Then you will be reinstated the same way every other member is when they get an NNT.

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Jumbo

Jumbo

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Question for you and the Mods around these parts. If posters went around using terms 'the black' or 'the asian' or 'the ____' would anyone take offense?

Just asking because homophobic slang gets tossed around here ad nauseum yet I never hear a word from the Mods about, but by God when a poster messes up a thread look out! Seems kinda ironic:rolleyes:

Quit your misplaced whining. You've been off-target in everything you've opined on regarding board operation. You obviously have no idea about much of anything around here in spite of the fact you registered your account years ago. I personally take a lof of abuse for stomping out the Tony Homo stuff in ATN. :)

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PokerPacker

PokerPacker

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Question for you and the Mods around these parts. If posters went around using terms 'the black' or 'the asian' or 'the ____' would anyone take offense?

Just asking because homophobic slang gets tossed around here ad nauseum yet I never hear a word from the Mods about, but by God when a poster messes up a thread look out! Seems kinda ironic:rolleyes:

I see it as making fun of homophobes as opposed to homosexuals. and its not exactly 'homophobic slang' as much as it is internet slang, which, again, is being done to make fun of people who speak that way.

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footballhenry

footballhenry

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Including the "colorful" PM you sent (that I just now got to reading--and btw, you weren't "banned" as you stated in your PM), the red highlight above is the only thing you've said that I can relate to. Oh, and no, though we all hear it from about 30% of the people who receive a moderator action, there isn't any "personal vendetta" against you.

Personally, I don't even have much awareness of you other than what other staff have told me (which wasn't flattering).

The "forever" wasn't literal, but it's tempting and I have a lot of support. :)

TK told you all you're going to get to hear when he answered your request for us to tell you what you did. This isn't your first NNT, or even your first interaction with a mod. It's all on you now to figure out what you did wrong and PM us when you do. Then you will be reinstated the same way every other member is when they get an NNT.

There's certainly some miscommunication here. Anyways, it's not a big deal at all. It's clever the way you frame your post in a less than classy way, but it is what it is.

I already stated that I made a mistake, that's about all any man can do and honestly...this is a freaking message board not some boot camp. I find it ridiculous that while I have enormous respect for the great job you mods do, the overreaction at times is astounding (am I allowed to invoke free speech here?).

You state that its 'tempting' to ban me 'forever'...quite a digital 'slap in the face' wouldn't you say? You act as if I'm some renegade poster here or something... I can man up and admit that I was wrong in my error. Hell, I've had plenty of them but the subtle insults certainly force me to go on somewhere else where mutual respect is the norm.

:peace1:

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Jumbo

Jumbo

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footballhenry---There's certainly some miscommunication here
Not really. It's something else entirely, IMV. :)

It's clever the way you frame your post in a less than classy way, but it is what it is.

I am often clever. And yet, I am indeed often less than classy. :D
I already stated that I made a mistake, that's about all any man can do...
Well, any member has to do a little more than that to remedy their NNT status, and it really is your responsibility to figure it out. That's the way it's been for everyone ever since NNT was initiated. What mistake(s) did you make? You keep showing many of us here that you're clueless on this matter, but you do seem to like to do the passive/aggressive thingy.
this is a freaking message board not some boot camp.
Drama queen much? It's a simple message board with simple rules that everyone agrees to follow when they register just as it always has been since day one. And remember when I pointed out this wasn't even your first NNT? :cool:
I find it ridiculous that while I have enormous respect for the great job you mods do, the overreaction at times is astounding
It's good for you circulation to be astounded every now and then. BTW, that sentence is a little funny if you read it carefully (not trying to nit-pick). :laugh:

(am I allowed to invoke free speech here?).

Dumb question much?
You state that its 'tempting' to ban me 'forever'...
Man, are you really that dense on this matter? What is the big block you have about understanding what being banned is, and how it's not what you are? :silly:
quite a digital 'slap in the face' wouldn't you say?
Nope, I'd say it's your basic old NNT with a little well merited extra spice added.
You act as if I'm some renegade poster here or something...

I'm not "acting" like anything. However, (you'll like this) while "renegade" doesn't seem to fit, some people here think you are more than just another simple mind. :D
I can man up and admit that I was wrong in my error.
You are a true hero for manning up under such arduous adversity. And I like the concept of being "wrong in your error." You have a way with phrasing. But exactly what did you do wrong? ;)

Hell, I've had plenty of them but the subtle insults certainly force me to go on somewhere else where mutual respect is the norm.

Don't fight the force. It is all around you. :)
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