To: Zeev Hed who wrote (7959 ) 11/15/1997 3:11:00 AM From: John Barendrecht Read Replies (2) | Respond to of 18056
Zeev, my apologies if I have offended you by quoting part of that article. I am not anti-semetic and as I stated elsewhere, one of the nicest bosses I had was Jewish. So, I started looking into some of the facts that he quotes on that site and into the Fed. Someone stated that there is no Lazard Brothers Bank. There is and they have several sites. Lazard London was founded in 1989 to offer the investment management services of Lazard London Borthers Asset Management (LBAM) to U.S. institutional investors. Both are wholly-owned subsidiaries of Lazard Brothers & Company, a merchant bank formed in 1870, and are independent affiliates of Lazard Freres of New York. seic.com Try searching yahoo for Lazard Brothers Bankav.yahoo.com Career: articled Norton Rose; qualified 1981; assistant solicitor 1981-1982; manager merchant bankers Lazard Brothers & Co 1982-1987; partner Watson, Farley & Williams 1988; resident partner Oslo office 1988-1993.icclaw.com Originally established in the 1850's, the Lazard brothers founded offices in New York, London and Paris;milkround.co.uk Finance Indexbbi.co.uk Haven't checked out all the other banks listed but I will. As for whether they "own" the Fed, haven't found out. As for the Fed, there are some interesting sites: Every national bank in any State shall, upon commencing business or within ninety days after admission into the Union of the State in which it is located, become a member bank of the Federal Reserve System by subscribing and paying for stock in the Federal Reserve bank of its districtlaw.cornell.edu ./uscode/12/222.shtml 502. Liability of shareholders of Federal reserve banks on contracts, etc. The shareholders of every Federal reserve bank shall be held individually responsible equally and ratably, and not one for another, for all contracts, debts, and engagements of such bank to the extent of the amount of their subscriptions to such stock at the par value thereof in addition to the amount subscribed, whether such subscriptions have been paid up in whole or in part under the provisions of this chapter.law.cornell.edu ./uscode/12/502.shtml The New York Fed and the other Reserve Banks, as the operating units of the nation's central bank, provide several important services to the Federal government and to depository institutions. As the banker for the Federal government, the Fed clears checks drawn on the Treasury's account. Acting as fiscal agents for the government, the Reserve Banks sell, service and redeem Treasury securities. Further, currency and coin are placed into or are withdrawn from circulation in response to seasonal and cyclical shifts in the public's need for cash. Almost all U.S. currency now consists of Federal Reserve notes, which were first issued in 1914.ny.frb.org About the Federal Reserve System Providing certain financial services to the U.S. governmentbog.frb.fed.us