Nov. 10 (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. [snip]
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. [snip]
“You have to balance the need for transparency with protecting the public interest,” Talbott said. “Taxpayers have a right to know where their tax dollars are going, but one piece of information standing alone could undermine public confidence in the system.”
“Protecting the public interest” indeed. A thin screen.Read Full Post | Make a Comment ( None so far )
Fear-mongering doesn’t get any more obvious than this. Congressman Brad Sherman (D-CA, Sherman Oaks, Northridge) despite intense pressure, stood up in the House and told the world that members of Congress had been threatened by the White House with Martial Law if they voted NO on the bailout bill. Martial Law. It seems my reference to “virtual guns” in my last blog post was incorrect — correction: they were real guns.
“The only way they can pass this bill is by creating and sustaining a panic atmosphere.”
Read Rep. Sherman’s breakdown of the bailout bill.
Thank Rep. Sherman here.Read Full Post | Make a Comment ( None so far )