Federal Reserve Seeks to Protect U.S. Bailout Secrets

[7redorbs]

The Federal Reserve asked a U.S. appeals court to block a ruling that for the first time would force the central bank to reveal secret identities of financial firms that might have collapsed without the largest government bailout in U.S. history.

The U.S. Court of Appeals in Manhattan will decide whether the Fed must release records of the unprecedented $2 trillion U.S. loan program launched after the 2008 collapse of Lehman Brothers Holdings Inc. In August, a federal judge ordered ...

Federal Reserve Seeks to Protect U.S. Bailout Secrets (Update1) - Bloomberg.com

[lost climber]

So now the government is requesting that the public not be allowed to see how they ( the government) are spending the public tax dollars. They take on the largest bailout seen in history, just to refuse to allow the public access to the list of companies that received money. I believe the public has a right to know how the government is wasting, I mean using the tax dollars.

[outlander]

Governments should be an open book to the people, if it's not then all I can assume is that something sinister is at play. The sad thing is a newspaper article or blog entry calling it out is usually as far as it goes.

[7redorbs]

So now the government is requesting that the public not be allowed to see how they ( the government) are spending the public tax dollars. They take on the largest bailout seen in history, just to refuse to allow the public access to the list of companies that received money. I believe the public has a right to know how the government is wasting, I mean using the tax dollars.

no, buddy, it's worse than that. The government is in due process of a request from a private organization to suppress any truth about their monetary activities and profits -

This is because if they were to do so, it'd show the largest ever change in hands of cash, ever, and would be considered criminal - people would panic, revolt and try and take the money back.

I don't think I'm kidding - All that bailout money has a ton of interest - and 'capitalization' - unfortunately the thing that has been capitalized in the USA seems to be the value of each citizen. The same applies to the UK bailout - It cost me and every other UK citizen about £40,000 (~$60,000).

This madness has to stop.

A

[lost climber]

So it is not the government that is deciding that we can see the list? It is a private company (federal reserve) that is demanding that they keep the list secret in order to "protect" us the citizens. If they are trying to do this to "protect" us, then who is going to "protect" us from the government that will just do anything with our money?

[7redorbs]

Well you said that the government is _requesting_ , the request is from the private banking group FEDERAL RESERVE. The so called 'government' decide whether such a request is motioned or not ;)

I think, so yes the government decides but distinctly I would say it is not the government requesting this... but private holders of a company. The federal reserve is a company as far as I can tell - maybe I'm wrong about that ...

I think you're right, it's ironic that privacy is ignored when it is needed most (free press) - and payed attention to also when it is needed least. What do you think?

A

[lost climber]

Very good, I believe I understand. The federal reserve (the privately owned company) is requesting that the courts rule in favor of keeping this information private. All of this to keep the public from realizing how much money the Fed made from this bailout. To think that I thought that I can't be surprised anymore at what the government is doing.

[7redorbs]

Very good, I believe I understand. The federal reserve (the privately owned company) is requesting that the courts rule in favor of keeping this information private. All of this to keep the public from realizing how much money the Fed made from this bailout. To think that I thought that I can't be surprised anymore at what the government is doing.

taxing each individual in the country over $40k each to pay the debt they took on to bail out privately owned banks like the fed.

I wonder how many shareholders in the FED had companies that were bailed out ;) I wonder how many owners of the fed, owned these 'other banks' - that had to be bailed out by the government, without choice, to prevent the collapse of society. ;) Too many, I expect... quite brilliant if this wild conjecture was true.

Perhaps it is not about how much money they made, but the fact that there are vested and interests that sit apart from the FED. Since there is absolutely no transparency or regulation, anything short of such information being divulged could easily be an unknown crime. It's unregulated.

It's like an insurance company not being regulated by the Financial Services Authority, illegal - but worse, and then made legal.

I think the fed were already rich, my conclusion is they were always after something more than money - it was money that was the means to bond man to the dollar. I think It worked a treat. Just because they can't sell T-Bills doesn't actually mean they can't collapse the chinese economy single handedly, just by defaulting. Perhaps the defense companies that fed members / owners /shareholders could own and profit from also could show this motive.

That'd spoil a plan, of course, if there was one. The point is, it's not fair to call me a conspiracy theorist, because an unregulated bank, leaves us no other choice but to speculate. My 'money' - not that it is worth that much - is banking on that information never being disclosed. Unless the string puller-ed wants fore-closure to be an option for them and their government.

IMO this is why the fed should never have been privatized in the first place. Let alone unregulated. I think Woodrow Wilson summed it up quite nicely wasnt it? "I have [unwhittingly] sold my country out to a group of bankers". And who was it who said, `[beware the military industrial complex?]`

I couldn't agree with you and them more. Don't think England is much different. If people actually understood how the banking system worked, there really would be a revolt, it's based purely on trust. Simple as that, a member of the FSA told me this in confidence, not that he would have to - it's public knowledge in London and Wall-Street

Yours truly,
A

[A.G.Frog]

"Give me control of a nation's money and I care not who makes it's laws" — Mayer Amschel Bauer Rothschild

This thread just made me think of this quote and I thought I would share.
J