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 collateralIs there nobody sane at any point in the pay-out chain? I.e., doesn't somebody have to sign and send the checks, and couldn't Congress (or me! let me go kick some butts!) just cut them off until they play by the rules? What kind of crazy banana republic do we live in these days?!?
Good on Bloomberg for filing a Sunshine lawsuit, but by the time that works its way through the courts, the money will be long gone (and probably the lame-duck crooks too)... grrrr.
(via Talking Points Memo)
1 comment:
I don't honestly know whether twice per year is fast enough, given that this is an "emergency plan" intended to help staunch the bleeding very quickly. There has been discussion that the Fed is more interested in promoting bank consolidation than in creating financial liquidity/loans, so I think we have reason to be suspicious...
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