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Problem is that most of his billionaire cronies got paid off by the deferral reserve because they caused the crash of the Market..mortgage owners lost homes..They sold/hedged mortgages etc etc.. Here's a partial list..
Sure Trump..expose your corny CAPITALISTS for how they got their Billions!! This will go no where because other than a diversion..HE CANNOT afford to have his cabinet exposed as Leaches on the Government Teet!!
The list of institutions that received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows.. Citigroup: $2.5 trillion ($2,500,000,000,000) Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000) Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000) JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000) Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many many more including banks in Belgium of all places
Course all this BAILOUTS were before BO took office and shortly after..SO to blame BO for such a deficit seems rather lame.. Anyway..Fed. Reserve did make some changes apparently~~
The Dodd-Frank Wall Street Reform and Consumer Protection Act directed GAO to conduct a one-time audit of the emergency loan programs and other assistance authorized by the Board of Governors of the Federal Reserve System (Federal Reserve Board) during the recent financial crisis. This report examines the emergency actions taken by the Federal Reserve Board from December 1, 2007, through July 21, 2010. For each of these actions, where relevant, GAO's objectives included a review of (1) the basis and purpose for its authorization, as well as accounting and financial reporting internal controls; (2) the use, selection, and payment of vendors; (3) management of conflicts of interest; (4) policies in place to secure loan repayment; and (5) the treatment of program participants. To meet these objectives, GAO reviewed program documentation, analyzed program data, and interviewed officials from the Federal Reserve Board
There's some great info to give some insights..and while GOP has been trying to deregulate "DODD-FRANK" one only has to see why?
SO WTH would GOP Congress wish to expose their hypocrisy????
I don't trust the GOP for one second to actually pass and send this along. The question then is whether Trump is sincere and will condemn them or he knows there is no chance of him actually having to do it.
Problem is that most of his billionaire cronies got paid off by the deferral reserve because they caused the crash of the Market..mortgage owners lost homes..They sold/hedged mortgages etc etc.. Here's a partial list..
Sure Trump..expose your corny CAPITALISTS for how they got their Billions!! This will go no where because other than a diversion..HE CANNOT afford to have his cabinet exposed as Leaches on the Government Teet!!
The list of institutions that received the most money from the Federal Reserve can be found on page 131 of the GAO Audit and are as follows.. Citigroup: $2.5 trillion ($2,500,000,000,000) Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000) Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000) Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000) JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000) Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many many more including banks in Belgium of all places
Course all this BAILOUTS were before BO took office and shortly after..SO to blame BO for such a deficit seems rather lame.. Anyway..Fed. Reserve did make some changes apparently~~
U.S. GAO - Federal Reserve System: Opportunities Exist to Strengthen Policies and Processes for Managing Emergency Assistance
The Dodd-Frank Wall Street Reform and Consumer Protection Act directed GAO to conduct a one-time audit of the emergency loan programs and other assistance authorized by the Board of Governors of the Federal Reserve System (Federal Reserve Board) during the recent financial crisis. This report examines the emergency actions taken by the Federal Reserve Board from December 1, 2007, through July 21, 2010. For each of these actions, where relevant, GAO's objectives included a review of (1) the basis and purpose for its authorization, as well as accounting and financial reporting internal controls; (2) the use, selection, and payment of vendors; (3) management of conflicts of interest; (4) policies in place to secure loan repayment; and (5) the treatment of program participants. To meet these objectives, GAO reviewed program documentation, analyzed program data, and interviewed officials from the Federal Reserve Board
There's some great info to give some insights..and while GOP has been trying to deregulate "DODD-FRANK" one only has to see why?
SO WTH would GOP Congress wish to expose their hypocrisy????
The Fed is already audited up and down the ying-yang.
This link does a credible job of demonstrating what "audit the Fed" is really about- the ability for Congress ( and the lobbyists who pull the strings) to put pressure on monetary decisions.
I don't trust the GOP for one second to actually pass and send this along. The question then is whether Trump is sincere and will condemn them or he knows there is no chance of him actually having to do it.
Rand Paul is sincere on this, as was his father. Most of the rest of congress is not.
The Fed is already audited up and down the ying-yang.
This link does a credible job of demonstrating what "audit the Fed" is really about- the ability for Congress ( and the lobbyists who pull the strings) to put pressure on monetary decisions.
you mean congress, rather than the anonymous shadowy behind the scenes special interests that do it now?
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