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Politics : President Barack Obama -- Ignore unavailable to you. Want to Upgrade?

To: denizen48 who wrote (129308)	12/28/2012 11:27:19 AM
From: RetiredNow	Read Replies (4) \| Respond to of 149317

Actually, I'm harped on all of those things in your post, which are all true. It's why I'm so outraged. But ultimately, when the bill is tallied, who suffers most from the screwing the American people are getting? It's our kids. Generation Y is suffering the most RIGHT NOW! And just to whet your appetite for more information on exactly who is doing the screwing, here's how your heroes at the Fed are helping to produce this non-recovery. Sheesh, even Bernie Sanders gets what is really going on behind the scenes. ------------ Fed Members Gave Their Own Banks $4 Trillion During Bailout A report just released by the US Government Accountability Office explains how the Federal Reserve divvied up more than $4 trillion in low-interest loans after the fiscal crisis of 2008, and the news shouldn’t be all that surprising. When the Federal Reserve looked towards bailing out some of the biggest banks in the country, more than one dozen of the financial institutions that benefited from the Fed’s Hail Mary were members of the central bank’s own board, reports the GAO. At least 18 current and former directors of the Fed’s regional branches saw to it that their own banks were awarded loans with often next-to-no interest by the country’s central bank during the height of the financial crisis that crippled the American economy and spurred rampant unemployment and home foreclosures for those unable to receive assistance. "This report reveals the inherent conflicts of interest that exist at the Federal Reserve,” Sen. Bernie Sanders (I-Vermont) says in a statement about the report. “At a time when small businesses could not get affordable loans to create jobs, the Fed was providing trillions in secret loans to some of the largest banks and corporations in America that were well represented on the boards of the Federal Reserve Banks,” adds Mr. Sanders. “These conflicts must end." Bernie Sanders .pdf breakdown (4 pages) sanders.senate.gov MORE \| SOURCE rt.com