Secret Fed Loans Gave Banks Undisclosed $13B – Bloomberg

Secret Fed Loans Gave Banks Undisclosed $13B – Bloomberg: “Saved by the bailout, bankers lobbied against government regulations, a job made easier by the Fed, which never disclosed the details of the rescue to lawmakers even as Congress doled out more money and debated new rules aimed at preventing the next collapse.”

Are. You. Kidding? I’ve never been a fan of abolishing the Federal Reserve. Having a central bank is a useful part of the economic system. However if the role of the Fed is to rig the system to insure profits for the banks and then hide the details from the taxpayers, then something has to change.
What really worries me isn’t that voting out the current administration would fix this. It’s that voting in the Republicans would just make it worse. At this point both sides are too corrupt to be worthy of support.

Published by Steve Banfield

Kentucky born, Seattle based. Entrepreneur. Team Builder. Photographer.

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