The Fed refused yesterday to disclose the names of the borrowers and the loans, alleging that it would cast “a stigma” on recipients of more than $1.9 trillion of emergency credit from U.S. taxpayers and the assets the central bank is accepting as collateral.It wasn't "the Fed", it was Bernanke. When asked if he would release the names of the institutions and people who got all these billions, he flatly said "NO".
Translation:
"We haven't finished plundering this nation yet, we have billions to go, and we need more time so everybody involved can get out of the country and beyond your jurisdiction with the loot before you find out anything.
Cast a "Stigma" on recipients. Yeah right. Those "Recipients" have already cast on themselves as much stigma as is possible to cast.
You can just bet - with 100% confidence - when the facts finally come out, that hundreds of billions will have vanished, untraceable, unrecoverable, unaccounted for. But it will be somewhere... In offshore banks, European banks, Israeli banks, and private vaults scattered around the globe.
And Bernanke(if he's still here) will say he regrets not having required sufficient oversight of the money, and Congress will most likely award him some sort of Congressional medal created exclusively for the occasion.
We are being so screwed by this federal government.
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