Monday, November 10, 2008

Federal Reserve Refuses to tell who they loaned $2 Trillion Dollars

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.

Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson lied in September saying 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.

Click Here To Learn More.

If you want to understand what is really going on click here.

1 comment:

Brian said...

I find it funny that not that many people understand how the federal reserve works. Its the biggest scam on the we the people.