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Bloomberg.com: Fed Refuses to Disclose Recipients of $2 Trillion


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Here courtesy of here.

The Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of emergency loans from U.S. taxpayers and the assets the central bank is accepting as collateral. Bloomberg filed suit Nov. 7 under the U.S. Freedom of Information Act requesting details about the terms of 11 Fed lending programs, most created during the deepest financial crisis since the Great Depression.

The Fed responded Dec. 8, saying it’s allowed to withhold internal memos as well as information about trade secrets and commercial information. The institution confirmed that a records search found 231 pages of documents pertaining to some of the requests.

:mad::mad::mad::mad::mad: HEY, *******S, THAT'S OUR MONEY :cuss:
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If I could use the search function, I would dig up threads of people saying the bailout was a good idea. Some of us were against Paulson's plan from the start.

I'll admit to mixed emotions. I still can. They proclaimed a doomsday story. We watched major institutions falling and the domino danger of that continuing could/might still be catastrophic. The bailout in itself was not evil or even completely wrong-headed.


the problems are manifold. One is execution, two is secrecy, and three is the money isn't being targeted or controlled, and four the Fed is feeling like a magnimous God who will shower pleasure at his will or a vengeful God that will torture... neither is constructive or conducive to guiding a recovery.

Mind you, secrecy has been a guiding principle of the Bush administration and we could argue that most of that secrecy was hiding incompetence rather than protecting us. Secrecy in itself like a bailout isn't bad, but it needs to be measured and considered. The fed seems to be reacting and not really thnking.

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Gov't in this country, the last 30 years, has grown steadily w/no checks on both its power and its ability and desire to see that it encroaches more and more into our everyday lives. I couldn't agree with you more, the feds do have too much power.

I also agree with the "Feds" having too much power, but honestly, I was speaking specifically about the Federal Reserve" Fed, which isnt part of the Government but can act as if they are.:2cents:

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Is anyone surprised? :doh:

Bailout is such a great idea.

None of this money is from the bailout. The bailout was only $700 billion. This is money loaned directly from the Federal Reserve, which was never approved by Congress.
The fed has too much power
Yes, they do.
:mad::mad::mad::mad::mad: HEY, *******S, THAT'S OUR MONEY :cuss:
But it's actually THEIR money.

Blame the Fed for this one. Don't blame the bailout.

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