Geithner is STILL on C-SPAN getting his ass kicked by Congress..

[ddeclue]

This is just wonderful to watch!

[buzzard]

1. I am watching with my head spinning, did the government bail out the Fed in some way?

[ddeclue]

4. No the Gov't IS the Fed and the Fed bailed out Goldman Sachs and AIG.

and is keeping the details secret and Timmeh is in favor of keeping it secret.

[buzzard]

6. The Gov is not the Fed from what I have read here are a few links let me know what you think.

I am finding this whole debate hard to follow especially who owned what, and what was it worth, it seems like a cesspool of corruption.


http://www.globalresearch.ca/index.php?context=va&aid=10489

"If the Fed were actually a federal agency, the government could issue U.S. legal tender directly, avoiding an unnecessary interest-bearing debt to private middlemen who create the money out of thin air themselves. Among other benefits to the taxpayers. a truly "federal" Federal Reserve could lend the full faith and credit of the United States to state and local governments interest-free, cutting the cost of infrastructure in half, restoring the thriving local economies of earlier decades."

http://www.federalreserve.gov/generalinfo/faq/faqfrs.htm#5

""The Federal Reserve System is not "owned" by anyone and is not a private, profit-making institution. Instead, it is an independent entity within the government, having both public purposes and private aspects.
As the nation's central bank, the Federal Reserve derives its authority from the U.S. Congress. It is considered an independent central bank because its decisions do not have to be ratified by the President or anyone else in the executive or legislative branch of government, it does not receive funding appropriated by Congress, and the terms of the members of the Board of Governors span multiple presidential and congressional terms. However, the Federal Reserve is subject to oversight by Congress, which periodically reviews its activities and can alter its responsibilities by statute. Also, the Federal Reserve must work within the framework of the overall objectives of economic and financial policy established by the government. Therefore, the Federal Reserve can be more accurately described as "independent within the government.

http://www.webofdebt.com/articles/time_to_buy_the_fed.php

“Some people think that the Federal Reserve Banks are United States Government institutions. They are private monopolies which prey upon the people of these United States for the benefit of themselves and their foreign customers; foreign and domestic speculators and swindlers; and rich and predatory money lenders.”
– The Honorable Louis McFadden, Chairman of the House Banking and Currency Committee in the 1930s

[dixiegrrrrl]

7. You are very correct. Fed. is NOT a Gov't agency.

But few people realize that, and the Fed. has gone to great lengths to disguise the fact it is a private group of bankers who somehow are able to control our money supply!

[ddeclue]

8. Yeah well... it's still a quasi-gov'tl entity so yes it is part of the Federal gov't.

[malaise]

2. It's great

Go Dennis! :D

[valerief]

3. thanks

[mdmc]

5. wish I could see..

[ellie]

9. I didn't watch,

did it look like he was going to cry? Because I like when that happens.