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lovuian

(19,362 posts)
Sat Sep 1, 2012, 06:03 PM Sep 2012

Bernie Sanders Fed Audit (prepare yourself to be ticked off)

here is the Fed Audit folks by the GAO
http://www.sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

It seems are tax dollars have gone to banks over seas

"As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."


Among the investigation's key findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. "No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president," Sanders said.

For example, the CEO of JP Morgan Chase served on the New York Fed's board of directors at the same time that his bank received more than $390 billion in financial assistance from the Fed. Moreover, JP Morgan Chase served as one of the clearing banks for the Fed's emergency lending programs.

In another disturbing finding, the GAO said that on Sept. 19, 2008, William Dudley, who is now the New York Fed president, was granted a waiver to let him keep investments in AIG and General Electric at the same time AIG and GE were given bailout funds. One reason the Fed did not make Dudley sell his holdings, according to the audit, was that it might have created the appearance of a conflict of interest.

To Sanders, the conclusion is simple. "No one who works for a firm receiving direct financial assistance from the Fed should be allowed to sit on the Fed's board of directors or be employed by the Fed," he said.



After 100 years ...we find that the FED is corrupt and out of control

we didn't authorize the Fed to bail out corporations and banks over seas with US tax dollars and they expect the American people to delay their Social Security and cut Medicaid and Medicare because of Feds policies


Its over the Fed has to be restrained

293 replies = new reply since forum marked as read
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Bernie Sanders Fed Audit (prepare yourself to be ticked off) (Original Post) lovuian Sep 2012 OP
More shame... ananda Sep 2012 #1
I have to commend Bernie Sanders Alan Grayson Dennis Kucinich and Ron Paul lovuian Sep 2012 #2
Royal Bank of Scotland is a US chartered bank - this nonsense has been pointed out banned from Kos Sep 2012 #3
Right on schedule. 99Forever Sep 2012 #12
Thank you for defending the Banks, we expect no less of you and no thread on the massive sabrina 1 Sep 2012 #25
Not. laundry_queen Sep 2012 #98
Nevertheless the US subsidiary enjoys Fed or OCC regs and banned from Kos Sep 2012 #158
Whatever. Care about accuracy hence my post. nt laundry_queen Sep 2012 #189
Soooooo.... did you miss that whole 'conflict of interest' thing? The Doctor. Sep 2012 #229
Really! The "appearance" of a conflict of interest is a problem, but an actual savannah43 Sep 2012 #248
You forgot the sarcasm tag-thingy. The Doctor. Sep 2012 #292
Interesting. sulphurdunn Sep 2012 #245
Bernie and the honest members of congress are trying to do something about this Cleita Sep 2012 #4
Meanwhile, lesser connected Americans lost their homes and jobs Autumn Sep 2012 #5
Banks got bailed out..WE GOT SOLD OUT! But hey, THANK GOD IT PASSED! SammyWinstonJack Sep 2012 #277
Too small indeed. Autumn Sep 2012 #282
Harry Reid is blocking a senate vote for an audit of the Fed. xFiFtyOnE Sep 2012 #6
You DO know that the Majority Leader has to vote with a filibuster to bring it back up again LSK Sep 2012 #20
Why is that? Why is that? Why is that? Why is that? Skip Intro Sep 2012 #187
it won't be... and take note of posters who do not object to this fascisthunter Sep 2012 #7
Sixteen trillion! Going to bailout foreign banks. Why is this not illegal? sabrina 1 Sep 2012 #28
I am a keen observer, and one thing I will not tolerate is dishonesty fascisthunter Sep 2012 #33
The Third Way infection is now at 'wildfire' status. Zalatix Sep 2012 #38
a minority that DU props up fascisthunter Sep 2012 #40
I do agree with you and do not want to be part of any forum sabrina 1 Sep 2012 #45
This isn't about party Its about out and out CORRUPTION lovuian Sep 2012 #50
I totally agree with you and do not expect to see any defense of this on a Democratic sabrina 1 Sep 2012 #56
Why do you hate debtors and the unemployed? Seriously? banned from Kos Sep 2012 #60
Why are you always defending the corruption on Wall Street? Seriously? sabrina 1 Sep 2012 #67
I blame Republicans. N/T banned from Kos Sep 2012 #69
Corruption destroyed the Roman Empire lovuian Sep 2012 #76
as far as I am concerned any American who opposes a Full Audit lovuian Sep 2012 #71
The GAO (Congress) conducts a full audit! Get a grip, man! Here it is.. banned from Kos Sep 2012 #83
The GAO Audit will come out in Oct 18 lovuian Sep 2012 #91
Once the full audit is released, who would be responsible for DOING something - who has that power? gateley Sep 2012 #145
I know the Federal Reserve came to Congress for the TARP bailout lovuian Sep 2012 #173
true ..the old is not the new unfortunately. xiamiam Sep 2012 #250
+1 Yes, always instructive to note the patterns.... nt woo me with science Sep 2012 #165
The audit Sanders posted was just a partial audit. xFiFtyOnE Sep 2012 #8
The Fed is audited by Deloitte - the premier audit firm in the world banned from Kos Sep 2012 #9
I frankly don't care. xFiFtyOnE Sep 2012 #11
The Fed is not private - someone is lying to you. banned from Kos Sep 2012 #13
OK. xFiFtyOnE Sep 2012 #18
why has Social Security bought Treasury Bills? Is Social Security private?? LSK Sep 2012 #21
It's a trust fund. xFiFtyOnE Sep 2012 #27
and inflation is a big problem for the past ooohhh like 20 years or so?? LSK Sep 2012 #55
Paultards and goldbugs think so! banned from Kos Sep 2012 #89
Good question. The Fed buys Treasuries to expand the money supply. banned from Kos Sep 2012 #24
With more dollars you lessen the value of the dollar. xFiFtyOnE Sep 2012 #31
Which helps debtors and only hurts people with large cash positions banned from Kos Sep 2012 #51
It depends, seems to me. If you increase the number of dollars and at the same JDPriestly Sep 2012 #200
agree in full banned from Kos Sep 2012 #240
inflation Loudestlib Sep 2012 #34
The FED is private BobbyBoring Sep 2012 #257
The Fed is quasi-private. girl gone mad Sep 2012 #273
Ron Paul is a fucking nut. Warren DeMontague Sep 2012 #14
no Loudestlib Sep 2012 #36
He's been buying gold an mining stocks since Nixon delinked the dollar from gold. xFiFtyOnE Sep 2012 #44
That was a good buy.. Loudestlib Sep 2012 #47
It seems a group of people are trying to destroy America lovuian Sep 2012 #48
Fuck Ron Paul Vanje Sep 2012 #37
How about Bernie Sanders and Alan Grayson? Are they nuts too? sabrina 1 Sep 2012 #52
Ron Paul is a fucking nut. Warren DeMontague Sep 2012 #53
You did NOT answer the question. How about Bernie Sanders and Alan Grayson? Are they nuts too? Zalatix Sep 2012 #62
I dont see Bernie Sanders going around trying to deregulate everything and spewing free trade BS LSK Sep 2012 #64
But you do see Bernie Sanders and Alan Grayson demanding that the Fed be audited. sabrina 1 Sep 2012 #73
The Partial Audit showed MASSIVE CORRUPTION in the FEDERAL RESERVE lovuian Sep 2012 #115
I don't see why Ron Paul even got brought into this discussion. Zalatix Sep 2012 #82
I didnt but why are you defending him on a progressive website LSK Sep 2012 #94
That is a bald-faced lie. I have never defended Ron Paul. You have never seen me do so. Zalatix Sep 2012 #103
They are political opportunists. banned from Kos Sep 2012 #65
Finally, just as I expected. Why did it take you so long? sabrina 1 Sep 2012 #74
There was no reason to bring Ron Paul into this thread. None at all. Zalatix Sep 2012 #85
A very transparent ploy, and a weak one. I just wanted to give the poster the opportunity sabrina 1 Sep 2012 #92
We have a very schizophrenic situation on the DU. Zalatix Sep 2012 #110
Well, I have not alerted on the posts trashing a Democrat as a 'political oppurtunist' sabrina 1 Sep 2012 #121
The way to win is to outlast, and to stay on message. Zalatix Sep 2012 #133
Bernie Sanders is a political opportunist? What proof do you have of that? Zalatix Sep 2012 #80
Amazing, isn't it? Trashing good Democrats and Bernie Sanders who always sabrina 1 Sep 2012 #97
And likening Bernie Sanders to Ron Paul, definitely a troll move worthy of a hide. Zalatix Sep 2012 #100
Remember a guy called Kucinich? truedelphi Sep 2012 #256
Yes, he is. Democrats don't support this Audit the Fed bullshit. banned from Kos Sep 2012 #112
Alan Grayson disagrees. BTW he is also running for office as a Democrat. Zalatix Sep 2012 #116
Wrong again. More than half of our elected Democrats in Congress sabrina 1 Sep 2012 #192
Fail. "Economists Opposing Fed Audit Have Undisclosed Fed Ties" Zorra Sep 2012 #247
No economist on the Fed's payroll wants the Fed to be audited. girl gone mad Sep 2012 #274
You're RIGHT! I did NOT answer the QUESTION. Warren DeMontague Sep 2012 #66
You avoid the question because you already lost the argument. Zalatix Sep 2012 #75
Why are you trying to dispute my assertion that RON PAUL is a FUCKING NUT? Warren DeMontague Sep 2012 #84
There was no reason for you to bring Ron Paul into this, except to distract the issue. Zalatix Sep 2012 #90
Why not? It's a very simple question. Bernie Sanders and Alan Grayson who is running sabrina 1 Sep 2012 #104
You know whats funny? When people think they are entitled to demand random answers on shit. Warren DeMontague Sep 2012 #114
You don't expect to justify your off-topic comments. Gotcha. Zalatix Sep 2012 #117
Ive made one comment. That Ron Paul is a fucking nut. Warren DeMontague Sep 2012 #120
This thread is about Bernie Sanders discovering $16 trillion stolen from taxpayers. NOT Ron Paul. Zalatix Sep 2012 #124
Well, i am sorry that you (plural) are upset. Warren DeMontague Sep 2012 #127
Upset? Nope, I'm glad we've established that there was no reason to bring Ron Paul into this. Zalatix Sep 2012 #135
I think it's funny when people get all huffy and demand random answers and shit. Warren DeMontague Sep 2012 #155
Sorry for interrogating you MacLOL'd style! Sorry you can't stay on-topic. Zalatix Sep 2012 #166
Whatevs. Warren DeMontague Sep 2012 #168
Oh, and by the way- Warren DeMontague Sep 2012 #70
You did NOT answer the question. How about Bernie Sanders and Alan Grayson? Are they nuts? Zalatix Sep 2012 #78
Like Ron Paul, Bernie Sanders and Alan Grayson are carbon based life forms. Warren DeMontague Sep 2012 #88
This thread is about Bernie Sanders' audit of the Fed, it is NOT about RON PAUL. Zalatix Sep 2012 #93
Okay, then, kick me out of it. Or something. Warren DeMontague Sep 2012 #102
You had no reason for bringing him into this thread. This thread is about Bernie Sanders Zalatix Sep 2012 #105
Follow the train back up the chain Warren DeMontague Sep 2012 #108
This thread is about Bernie Sanders discovering $16 trillion stolen from taxpayers. Zalatix Sep 2012 #113
How about Bernie Sanders and Alan Grayson? Are they nuts too? sabrina 1 Sep 2012 #68
Ron Paul Warren DeMontague Sep 2012 #72
You did NOT answer the question. How about Bernie Sanders and Alan Grayson? Are they nuts? Zalatix Sep 2012 #77
Ask it again. Warren DeMontague Sep 2012 #86
How about Bernie Sanders, is he nuts also? Zalatix Sep 2012 #96
Bernie Sanders Warren DeMontague Sep 2012 #129
Then you had no reason to bring up Ron Paul. This thread is about Bernie Sanders, not Ron Paul. Zalatix Sep 2012 #137
This message was self-deleted by its author Warren DeMontague Sep 2012 #138
Your refusal to discuss what Bernie Sanders was talking about, is telling. Zalatix Sep 2012 #141
This message was self-deleted by its author Warren DeMontague Sep 2012 #143
How many times have you screamed the obvious "Ron Paul is a NUT"? Zalatix Sep 2012 #146
This message was self-deleted by its author Warren DeMontague Sep 2012 #150
Yeah, I didn't answer it. Zalatix Sep 2012 #154
This message was self-deleted by its author Warren DeMontague Sep 2012 #159
Right here Zalatix Sep 2012 #164
This message was self-deleted by its author Warren DeMontague Sep 2012 #167
Are you kidding me? It's FRAUD. You do know that FRAUD means THEFT, right? Zalatix Sep 2012 #177
This message was self-deleted by its author Warren DeMontague Sep 2012 #197
Secret transactions are THEFT and FRAUD. Zalatix Sep 2012 #202
This message was self-deleted by its author Warren DeMontague Sep 2012 #211
Secret transactions are THEFT and FRAUD. Zalatix Sep 2012 #221
It was done IN SECRET. That's fraud, theft. Zalatix Sep 2012 #222
How about Bernie Sanders and Alan Grayson, are they nuts also? sabrina 1 Sep 2012 #87
How about Jello Biafra and Ricardo Montablan? Warren DeMontague Sep 2012 #95
Likewise, Ron Paul has nothing to do with this thread. Zalatix Sep 2012 #99
How about Bernie Sanders and Alan Grayson who are demanding that the Fed be sabrina 1 Sep 2012 #101
What did I say? Warren DeMontague Sep 2012 #106
We have an issue with you going off-topic. This thread is about Bernie Sanders, NOT Ron Paul. Zalatix Sep 2012 #119
Then stay out of the subthread which brought ron paul into it, that would be my advice. Warren DeMontague Sep 2012 #122
No. I intend to vigorously challenge any attempts at connecting Ron Paul to Bernie Sanders. Zalatix Sep 2012 #128
They share 99.99% of the same DNA, and are both bipedal primates Warren DeMontague Sep 2012 #131
RP and his paulbots have been lighting up congressional phone lines on demand AtheistCrusader Sep 2012 #218
Bernie Sanders comes to his own conclusions whether or not the Paulites even exist. Zalatix Sep 2012 #224
Look at the dates. AtheistCrusader Sep 2012 #246
Bernie Sanders does not sign onto things that he himself has not checked. Zalatix Sep 2012 #259
I imagine your title line is 100% correct. AtheistCrusader Sep 2012 #263
let me know when Ron Paul comes out for Medicare for All LSK Sep 2012 #107
Start another thread. Meantime, my question remains unanswered by you. sabrina 1 Sep 2012 #111
I might answer your orig. question if you werent acting like you're Macloud doing an interrogation Warren DeMontague Sep 2012 #118
Oh now you feel like you're being interrogated because you went off-topic? Zalatix Sep 2012 #123
No, i feel oppressed by rows of laughing smileys. Warren DeMontague Sep 2012 #125
Ron Paul is still irrelevant. This is about Bernie Sanders discovering $16 Trillion in theft. Zalatix Sep 2012 #130
Bernie Sanders didn't by himself. AtheistCrusader Sep 2012 #266
He had the help of the GAO. Zalatix Sep 2012 #268
Tell me how Sanders wrote and sponsored the audit bill in the House. AtheistCrusader Sep 2012 #269
Enough with the distraction tactics. Zalatix Sep 2012 #270
It's ok, I knew you couldn't. AtheistCrusader Sep 2012 #271
We need to punish those responsible for moving that money, IN SECRET, out of the country. Zalatix Sep 2012 #281
Fair enough. AtheistCrusader Sep 2012 #287
How is this going to hurt Obama??? Zalatix Sep 2012 #288
His DoJ isn't really doing much on the issue. AtheistCrusader Sep 2012 #290
We could always wait until December. Zalatix Sep 2012 #291
I might take you seriously if you weren't having such a hard time supporting two of the most sabrina 1 Sep 2012 #132
I responded to somone who was promoting Ron Paul. Warren DeMontague Sep 2012 #134
LOL you STILL don't realize that Ron Paul is irrelevant to this thread? Zalatix Sep 2012 #139
You mean Ron Paul, FUCKING NUT? Warren DeMontague Sep 2012 #140
We're discussing Bernie Sanders' discovery of $16 Trillion stolen from American taxpayers Zalatix Sep 2012 #148
But you didn't respond to me who was not promoting Ron Paul but who was promoting sabrina 1 Sep 2012 #144
Careful. You're INTERROGATING him, MacLOL'd style! Zalatix Sep 2012 #147
Lol, just amazed at how hard it is to get someone to either confirm or deny that they sabrina 1 Sep 2012 #160
Bingo. Zalatix Sep 2012 #181
Post #6, Ron Paul vs. Harry Reid. Warren DeMontague Sep 2012 #163
First question you asked was, are they nuts too. No, Bernie Sanders and Alan Grayson are not, to my Warren DeMontague Sep 2012 #151
Yes, I did and I still got no answer to a very simple question. sabrina 1 Sep 2012 #156
Yes, you think Paul Krugman is nuts? Warren DeMontague Sep 2012 #161
Well, I think in fact I do have my answer. Silence means consent, Counselor! sabrina 1 Sep 2012 #170
Why are you trying to make me responsible for what someone else said? I'm not. Warren DeMontague Sep 2012 #172
Make you? Lol, I guess each time someone engages me in a discussion sabrina 1 Sep 2012 #176
Sigh. I was responding to someone who brought up Ron Paul. Post #6. Warren DeMontague Sep 2012 #178
Well that had nothing to with me as I did not misquote Bernie Sanders. sabrina 1 Sep 2012 #183
Nobody said "theft" was Bernie Sanders' exact words. Zalatix Sep 2012 #186
Speaking of knowing what things mean, do you know what "Moral hazard" actually means? Warren DeMontague Sep 2012 #196
Wow, you don't understand what "moral hazard" is, do you? Zalatix Sep 2012 #203
It is exactly what I said it is. Warren DeMontague Sep 2012 #209
Yes, I agree. What they discovered should have been reason to call a special session of sabrina 1 Sep 2012 #205
This message was self-deleted by its author Warren DeMontague Sep 2012 #212
??? sabrina 1 Sep 2012 #216
This message was self-deleted by its author Warren DeMontague Sep 2012 #219
You are making no sense at all now. Your claim was that I somewhere said there was no sabrina 1 Sep 2012 #220
Well, obviously I'm in on the Conspiracy. Warren DeMontague Sep 2012 #225
I'm sure you're trying to convey something sabrina 1 Sep 2012 #226
"16 Trillion Dollars handed out like candy"... Er, Did you actually read the GAO report? Warren DeMontague Sep 2012 #230
Extremely confused. And getting moreso as time wears on. Zalatix Sep 2012 #223
He called it SECRET LOANS. That's THEFT. Do you know what 'synonym' means? Zalatix Sep 2012 #185
Anyway, you can't seem to find me saying the things you wish I would say, so you want to hang Warren DeMontague Sep 2012 #214
I didn't misrepresent Sanders. Sanders described THEFT without using the exact word. Zalatix Sep 2012 #204
No, he didn't. Warren DeMontague Sep 2012 #210
What do you think of Bernie Sanders discovering $16 Trillion stolen from taxpayers? Zalatix Sep 2012 #157
Show me where Senator Sanders used that word, "stolen", and I'll answer. Warren DeMontague Sep 2012 #174
He didn't need to. Zalatix Sep 2012 #179
You forgot Kucinich. AtheistCrusader Sep 2012 #267
I agree, Kucinich is awesome, one of the best. sabrina 1 Sep 2012 #272
+1,000 for staying on-message. Zalatix Sep 2012 #79
You mean Bernie Sanders and Alan Grayson's audits. Very nice try, but you have to sabrina 1 Sep 2012 #30
But... but Ron Paul hitched his horse to that "audit the Fed!" cart. Zalatix Sep 2012 #41
Did you see the GAO report Its about Conflict of Interest lovuian Sep 2012 #39
Just stop! Trillions of dollars have gone to bail out foreign banks. This is NOT going to be sabrina 1 Sep 2012 #46
Like it or not the people in Grayson's district silenced him banned from Kos Sep 2012 #54
I don't believe you. And FYI, Grayson is running again. sabrina 1 Sep 2012 #63
Like it or not the teabaggers in Grayson's district retailated against him for his support of ACA. girl gone mad Sep 2012 #275
Bernie Sanders disagrees with you. $16 trillion was stolen and moved out of the country. Zalatix Sep 2012 #59
Could you please post a copy of the Deloitte audit report -- or a link to it? JDPriestly Sep 2012 #199
the partial Audit is scary enough I don't know how Congress lovuian Sep 2012 #26
One needs to look at the history surrounding the creation of the Federal Reserve... roamer65 Sep 2012 #10
pure right-wing bullshit banned from Kos Sep 2012 #15
The Illuminati created it so they could summon the Antichrist at the Bohemian Grove Warren DeMontague Sep 2012 #16
And the StoneMasons - don't forget them. banned from Kos Sep 2012 #19
What do they mean by do more? gateley Sep 2012 #152
Greenspan admitted being wrong about the banks ability to "self correct" banned from Kos Sep 2012 #171
But he had the power to have his opinion listened to by TPTB. gateley Sep 2012 #190
No, the Fed is a private corporation JFN1 Sep 2012 #17
Nonsense. Seriously that is just ridiculous. banned from Kos Sep 2012 #22
Why do you disagree with Progressives like Alan Grayson that the Fed needs to be sabrina 1 Sep 2012 #32
I am a Democrat - not a Progressive. I also support gun rights. banned from Kos Sep 2012 #126
If you are a Democrat you are progressive, there is no such thing as a regressive Democrat sabrina 1 Sep 2012 #142
You are truly a great poster. banned from Kos Sep 2012 #149
Resorting to playing the victim now? Either you are sure of who and what your are, sabrina 1 Sep 2012 #153
My favorite Dems today are Obama and Kirsten Gillibrand banned from Kos Sep 2012 #169
Lol! sabrina 1 Sep 2012 #175
This: "I am a Democrat which makes it easy for me to not to have to make excuses Zorra Sep 2012 #283
Don't be foolish. The Fed is not Wall St - the Fed is inside the beltway DC banned from Kos Sep 2012 #286
But it's still true. JFN1 Sep 2012 #198
do all Private Corporations have their boards appointed by Presidents and approved by the Senate? LSK Sep 2012 #23
Alan Grayson questioning Fed Reserve General Inspector 'Is anyone minding the store at the Fed? sabrina 1 Sep 2012 #35
thank you Sabrina ...Who is minding the store is right lovuian Sep 2012 #43
car to explain these signs EVERYWHERE for the past 3 years? LSK Sep 2012 #61
You are conflating the bank bailouts with the stimulus. girl gone mad Sep 2012 #276
And foreign banks. You're welcome, lovuian. I watched that testimony sabrina 1 Sep 2012 #188
It is actually part of the government davidpdx Sep 2012 #289
No outrage over the CONFLICT of Interest in AIG and GE and JP MORGAN lovuian Sep 2012 #29
Bernie Sanders is the greatest politician in the Congress today! twins.fan Sep 2012 #42
I agree just imagine without the audit we would lovuian Sep 2012 #58
I agree, yet in this very thread Bernie Sanders and Alan Grayson have been called sabrina 1 Sep 2012 #109
The fed needs to be nationalized, no more of this privatized BS Dont call me Shirley Sep 2012 #49
This^ girl gone mad Sep 2012 #278
Bernie tells it like it is. orpupilofnature57 Sep 2012 #57
The great shell game RegieRocker Sep 2012 #81
OMFG. nc4bo Sep 2012 #136
K&R. Nothing else to add nt riderinthestorm Sep 2012 #162
K&R K&R K&R K&R K&R! nt woo me with science Sep 2012 #180
I have been saying it to anyone who would listen ever since 2008: FOREIGN MONEY FOREIGN MONEY FOREIG patrice Sep 2012 #182
Foreign, as in Traitors, who are not deserving of national constitutionalities? fascisthunter Sep 2012 #191
There is no doubt in my mind that money, which was wrung out of the lives, lands, patrice Sep 2012 #195
Bernie 90-percent Sep 2012 #184
Now what will both Candidates Purpose? fascisthunter Sep 2012 #193
Threads like this make me wonder how many DU'ers actually think the Federal Reserve..... A HERETIC I AM Sep 2012 #194
Those aren't my concerns. My concerns are about what kinds of deals will be made with patrice Sep 2012 #206
They believe precisely that. cthulu2016 Sep 2012 #208
As a former high school math teacher, ... TahitiNut Sep 2012 #237
In this thread: girl gone mad Sep 2012 #280
For someone who regularly puts herself up as an expert on all thing financial... A HERETIC I AM Sep 2012 #284
You seem to want to revise recent history to fit a narrow pro-banker agenda. girl gone mad Sep 2012 #285
k/r nt limpyhobbler Sep 2012 #201
Since the Fed doesn't operate with "US tax dollars" this entire thread is a farce cthulu2016 Sep 2012 #207
Mmmm, Don't even bother. Warren DeMontague Sep 2012 #213
Bernie Sanders doesn't know what he's talking about? sabrina 1 Sep 2012 #215
Think about it for just a moment quaker bill Sep 2012 #228
Hows that "QE" been doing in freeing up investment funds for businesses?" KoKo Sep 2012 #235
I understand QE quaker bill Sep 2012 #261
I can agree with you on that point. QE's have been a boon to Too Big to Fail Banks & Nothing for KoKo Sep 2012 #264
Pushing money in at the wrong end to stimulate the economy quaker bill Sep 2012 #265
Even banned_from_kos would not say something this absurd, cthulu2016. girl gone mad Sep 2012 #279
Another thread attracting relentless, repetitive attention woo me with science Sep 2012 #216
yep.... KoKo Sep 2012 #234
Excellent post. n/t ronnie624 Sep 2012 #254
The 1% Invented Bread And Circus To Keep The 99% Blissfully Ignorant cantbeserious Sep 2012 #227
There is no doubt that there are some problems found but I have a couple of points to make. AnnaLee Sep 2012 #231
Isn't that cute? You're actually expecting the hair-on-fire folks to stop and think? Silly girl. TahitiNut Sep 2012 #232
Actually I see that someone else made the same comment as mine. AnnaLee Sep 2012 #233
Yup. I saw that, too. TahitiNut Sep 2012 #236
Um, if a bank loans the $1 to person A, who pays it back with 5% interest, it STILL charges person B Romulox Sep 2012 #239
I mean, why not just pay off your VISA bill with your MASTERCARD, then pay your MASTERCARD with your Romulox Sep 2012 #241
Once upon a time, in the olden days when regulations were (temporarily) far more reasonable, TahitiNut Sep 2012 #242
I know. But when I tried to pay my DISCOVER card, they told me, "It's one hundred and TEN dollars. Romulox Sep 2012 #243
vote heaven05 Sep 2012 #238
I'd go so far as to say ... CountAllVotes Sep 2012 #244
Wont happen. cstanleytech Sep 2012 #249
i have a friend who wants them hung by their thumbs in front of the white house xiamiam Sep 2012 #251
Wishful thinking CountAllVotes Sep 2012 #253
Think about it - so many of the major players are people truedelphi Sep 2012 #255
Federal Reserve is no more Federal than is Federal Express smile777 Sep 2012 #252
This audit was ProSense Sep 2012 #258
According to some, Ron Paul now controls Bernie Sanders and the GAO, too. Zalatix Sep 2012 #260
But people are more worried about what people buy with food stamps gollygee Sep 2012 #262
kick woo me with science Sep 2012 #293

lovuian

(19,362 posts)
2. I have to commend Bernie Sanders Alan Grayson Dennis Kucinich and Ron Paul
Sat Sep 1, 2012, 06:06 PM
Sep 2012

Last edited Sat Sep 1, 2012, 08:13 PM - Edit history (1)

for exposing the Truth about the corruption of Alan Greenspan and others

the American people DEMAND this STOP!

 

banned from Kos

(4,017 posts)
3. Royal Bank of Scotland is a US chartered bank - this nonsense has been pointed out
Sat Sep 1, 2012, 06:13 PM
Sep 2012

many times.

RBS has headquarters in Great Britain. Royal Bank of Canada is also a US bank - HQed in Canada.

But go ahead and work yourselves up about nothing. These loans were all repaid with interest.

99Forever

(14,524 posts)
12. Right on schedule.
Sat Sep 1, 2012, 07:27 PM
Sep 2012

I guess the gentleman that informed me that you were a constant apologist for the Banksters and other 1%er crooks was correct. Perhaps DU should take a lesson from Kos.

sabrina 1

(62,325 posts)
25. Thank you for defending the Banks, we expect no less of you and no thread on the massive
Sat Sep 1, 2012, 07:59 PM
Sep 2012

corruption of Wall Street would be complete without someone representing the other side.

savannah43

(575 posts)
248. Really! The "appearance" of a conflict of interest is a problem, but an actual
Sun Sep 2, 2012, 01:19 PM
Sep 2012

conflict of interest is perfectly acceptable.

 

sulphurdunn

(6,891 posts)
245. Interesting.
Sun Sep 2, 2012, 12:06 PM
Sep 2012

In a global financial system, what is an American bank? Is the Federal Reserve the reserve bank of the United States or the global banking system? Is the US a sovereign nation, governed by representatives elected by the people, responsible for the stability of its currency, or is it run for the benefit of international banks, foreign or domestic, with meaningless American charters or branches in Topeka? In many ways, the implications of the financial and political relationships that permitted such loans are far more alarming than the loans themselves, repaid or not.

Cleita

(75,480 posts)
4. Bernie and the honest members of congress are trying to do something about this
Sat Sep 1, 2012, 06:18 PM
Sep 2012

but keep hitting a brick wall with the Grand Old Obstructionist Party in Congress. Mitch McConnell and John Boehner, are you reading this?

SammyWinstonJack

(44,129 posts)
277. Banks got bailed out..WE GOT SOLD OUT! But hey, THANK GOD IT PASSED!
Mon Sep 3, 2012, 03:12 AM
Sep 2012


Banks...too big to fail and the average American? Too small to matter.
 

xFiFtyOnE

(7 posts)
6. Harry Reid is blocking a senate vote for an audit of the Fed.
Sat Sep 1, 2012, 07:13 PM
Sep 2012

Ron Pauls bill to audit the Fed passed the House and Harry says he won't let the bill see the light of day in the Senate. Kind of odd he opposes an audit of the Fed now, their is video of him on Youtube as recently as 2 years ago calling for an audit of the Fed. But now since the anti-Fed push is coming strong from Republicans he must play blue team vs red team despite the good of the American people.

LSK

(36,846 posts)
20. You DO know that the Majority Leader has to vote with a filibuster to bring it back up again
Sat Sep 1, 2012, 07:49 PM
Sep 2012

RIGHT?????

Skip Intro

(19,768 posts)
187. Why is that? Why is that? Why is that? Why is that?
Sat Sep 1, 2012, 10:53 PM
Sep 2012

Do we not have a right to know what this non-governmental agency is doing with our money?

Do we not have a right to ask why we do not control our own money?

Do we not have a right to ask why this agency doesn't require the approval of the president or congress to take action and form policy?

I'm with Paul on this.

This Audit the Fed bill passed the House. Reid has said he supports the idea. Why is he blocking it now?

Why is that?

 

fascisthunter

(29,381 posts)
7. it won't be... and take note of posters who do not object to this
Sat Sep 1, 2012, 07:16 PM
Sep 2012

however seem adamant that Assange needs to be prosecuted or the OWS is a negative rather than a positive. I LOVE stating the obvious.

sabrina 1

(62,325 posts)
28. Sixteen trillion! Going to bailout foreign banks. Why is this not illegal?
Sat Sep 1, 2012, 08:04 PM
Sep 2012

And yes, the lack of outrage is remarkable.

We have at least one member of the Senate trying to represent the people.

Bernie Sanders is a national treasure putting to shame all those who remain silent or who actively try to cover this up.

In the end, it is not the words of our enemies that we will remember, but the silence of our friends MLK

 

fascisthunter

(29,381 posts)
33. I am a keen observer, and one thing I will not tolerate is dishonesty
Sat Sep 1, 2012, 08:14 PM
Sep 2012

especially here on DU. There are frauds here and I want them banned. I make no secret of how I feel anymore, because doing so, does no good at all.

PS... do not agree with me, to protect yourself.

sabrina 1

(62,325 posts)
45. I do agree with you and do not want to be part of any forum
Sat Sep 1, 2012, 08:24 PM
Sep 2012

where Progressive ideals are challenged on a daily basis. I would like to know what exactly are the Democratic positions on issues now, as every day I come here now I find myself battling right wing talking points, something I recognize having spent my first few years online doing so.

Maybe there needs to be a clearer statement on what is considered the Democratic Party platform. Maybe it's due to the fact that so many Progressives have simply stopped posting here that the viewpoints of the right are more obvious, or maybe not.

But I for one will never excuse or accept the exoneration of War Criminals or the protection of the Wall Street criminals who destroyed the Middle Class in this country.

Maybe it is Progressives who need to be banned from this site. And that's fine, just make it clear, but I came here initially because I understood this to be a Democratic site that supported progressive ideals and made no excuses for War Criminals or any other Right Wing ideas. If that is no longer the case it would be only fair to make that clear so that those of us who have not changed our principles do not waste any more time.

lovuian

(19,362 posts)
50. This isn't about party Its about out and out CORRUPTION
Sat Sep 1, 2012, 08:37 PM
Sep 2012

in our most IMPORTANT and SACRED part of AMERICA ...The US TREASURY

FRAUD CORRUPTION to the toll of 16 trillion dollars must be HALTED

Congress sits back and lets it happen after the Partial Audit indicates FRAUD is there

then Congress forfeits its rights ...they are complicit to Fraud and Corruption

the Partial Audit ...has shown enough to the American people


They were right in the Occupy Protest ....Socialism for the Rich has been the name of the game

and stealing from American's future and children

This is World War III ....Economic attack 101 on the American government

sabrina 1

(62,325 posts)
56. I totally agree with you and do not expect to see any defense of this on a Democratic
Sat Sep 1, 2012, 08:40 PM
Sep 2012

forum at least. And yet, we do.

 

banned from Kos

(4,017 posts)
60. Why do you hate debtors and the unemployed? Seriously?
Sat Sep 1, 2012, 08:43 PM
Sep 2012

Cheaper dollars and low interest rates create jobs.

sabrina 1

(62,325 posts)
67. Why are you always defending the corruption on Wall Street? Seriously?
Sat Sep 1, 2012, 08:47 PM
Sep 2012

The destruction of the Middle Class, the pre-meditated criminal intent to defraud the public. The illegal foreclosures, the outright fraudulent practices that have created the worst economic inequality in this country's history. Why are you always in the forefront defending this?

And why were you banned from Kos? And you never answered my question regarding where I remember you from?

lovuian

(19,362 posts)
76. Corruption destroyed the Roman Empire
Sat Sep 1, 2012, 08:51 PM
Sep 2012

America is under attack by rampant corruption
the PARTIAL Audit shows 16 Trillion dollars of CORRUPTION

lovuian

(19,362 posts)
71. as far as I am concerned any American who opposes a Full Audit
Sat Sep 1, 2012, 08:48 PM
Sep 2012

is a TRAITOR to the America

We need to know what has been going on with the Federal Reserve

They have violated the Trust of the American people

I understand keeping banks afloat with the FDIC but to keep AIG GE and JP Morgan
afloat when Lehman was closed ...and then we have the Derivative mess which has NOT STOPPED


Iceland is right throw all these corrupt SOBS and we now know their names

we know who you are

The Audit is PROOF that Corruption rules the day
if we stop the corruption that will reduce our deficit

lovuian

(19,362 posts)
91. The GAO Audit will come out in Oct 18
Sat Sep 1, 2012, 08:59 PM
Sep 2012

Bernie's comment
A more detailed GAO investigation into potential conflicts of interest at the Fed is due on Oct. 18, but Sanders said one thing already is abundantly clear. "The Federal Reserve must be reformed to serve the needs of working families, not just CEOs on Wall Street."









thanks for the 2007 and 2008 report

The Federal Reserve needs reform

gateley

(62,683 posts)
145. Once the full audit is released, who would be responsible for DOING something - who has that power?
Sat Sep 1, 2012, 09:30 PM
Sep 2012

And, does it say they did anything illegal? I'm guessing they knew all the tricks. I'm so fucking tired of people, corporations and institutions HURTING America yet skating because of the laws the Big Boys have in place allowing this shit.

So, if it's not technically illegal, what can we DO? Even if it is, I haven't been too impressed by Holder's DOJ.

lovuian

(19,362 posts)
173. I know the Federal Reserve came to Congress for the TARP bailout
Sat Sep 1, 2012, 10:04 PM
Sep 2012

The Troubled Asset Relief Program (TARP) is a program of the United States government to purchase assets and equity from financial institutions to strengthen its financial sector that was signed into law by U.S. President George W. Bush on October 3, 2008. It was a component of the government's measures in 2008 to address the subprime mortgage crisis.

TARP allows the United States Department of the Treasury to purchase or insure up to $700 billion of "troubled assets," defined as &quot A) residential or commercial mortgages and any securities, obligations, or other instruments that are based on or related to such mortgages, that in each case was originated or issued on or before March 14, 2008, the purchase of which the Secretary determines promotes financial market stability; and (B) any other financial instrument that the Secretary, after consultation with the Chairman of the Board of Governors of the Federal Reserve System, determines the purchase of which is necessary to promote financial market stability, but only upon transmittal of such determination, in writing, to the appropriate committees of Congress."[3]


Congress Treasury and Federal Reserve


Banks that received bailout money had compensated their top executives nearly $1.6 billion in 2007, including salaries, cash bonuses, stock options, and benefits including personal use of company jets and chauffeurs, home security, country club memberships, and professional money management.[73] The Obama administration has promised to set a $500,000 cap on executive pay at companies that receive bailout money,[74] directing banks to tie risk taken to workers' reward by paying anything further in deferred stock.[75] Graef Crystal, a former compensation consultant and author of "The Crystal Report on Executive Compensation," claimed that the limits on executive pay were "a joke" and that "they're just allowing companies to defer compensation."[76]

In November 2011, a report showed that the sum of the government's guarantees increased to $7.77 trillion; however, loans to banks were only a small fraction of that amount.[77]
http://en.wikipedia.org/wiki/Troubled_Assets_Relief_Program



xiamiam

(4,906 posts)
250. true ..the old is not the new unfortunately.
Sun Sep 2, 2012, 01:28 PM
Sep 2012

We're not supposed to be outraged because its an election season. I'm an American and a citizen of the planet first..a democrat after that. The biggest thing I learned here, is that some have those priorities and morality confused. My eyes are wide open at this point in time and I would have bet almost everything 4 years ago that some of this corruption would have been addressed. Its all a sham..all of it...until everyone wakes up and accepts responsibility beyond partisan lines. Jamie Dimon is a criminal yet admired by and maybe even a future member of this administration. Oh well. The other guy is worse. What a joke.

 

xFiFtyOnE

(7 posts)
8. The audit Sanders posted was just a partial audit.
Sat Sep 1, 2012, 07:17 PM
Sep 2012

The $16 trillion stolen by the banks is likely just the tip of the iceberg. S.202, the Senate version being blocked as mentioned in my previous post, would require a FULL audit before the end of 2012.

 

banned from Kos

(4,017 posts)
9. The Fed is audited by Deloitte - the premier audit firm in the world
Sat Sep 1, 2012, 07:20 PM
Sep 2012

Ron Paul's "audit" is a bunch of stupid bullshit designed to move to a gold standard.

No one "stole" $16 trillion. Come up for air, dude.

 

xFiFtyOnE

(7 posts)
11. I frankly don't care.
Sat Sep 1, 2012, 07:23 PM
Sep 2012

If we move to a gold standard or another fiat currency. As long as this time that currency is issued by the United States government, not the private, for profit banking cabal known as the Federal Reserve. You enjoy them running your life?

 

banned from Kos

(4,017 posts)
13. The Fed is not private - someone is lying to you.
Sat Sep 1, 2012, 07:30 PM
Sep 2012

If the Fed were private Paultards would be worshiping it.

ALL THE PROFITS from the Fed go to taxpayers and the Fed Board is appointed by the POTUS and confirmed by the Senate.

 

xFiFtyOnE

(7 posts)
18. OK.
Sat Sep 1, 2012, 07:46 PM
Sep 2012

The Fed is not private aye? Then was does the Fed buy Treasury Bonds? Why would the one branch of the government buy debt from the rest of the government? Please tell me more?

 

xFiFtyOnE

(7 posts)
27. It's a trust fund.
Sat Sep 1, 2012, 08:03 PM
Sep 2012

A trust fund is a little different than when the Fed lends money that didn't exist(you could call it "printing" but it's all digital) to the U.S. government therefore expanding the money supply(inflation).

 

banned from Kos

(4,017 posts)
24. Good question. The Fed buys Treasuries to expand the money supply.
Sat Sep 1, 2012, 07:58 PM
Sep 2012

The Fed does indeed "create" money out of thin air to buy real AAA bonds like Treasuries. The interest earned on the Treasuries is repaid to the Treasury.

Conservatives HATE this practice and call it "monetizing the debt" - which it is in part. The net result is this - it helps DEBTORS repay loans with more available dollars.

I am on the DEBTORS side - not the banks.

And so is the Fed when it expands monetary supply (like now).

 

xFiFtyOnE

(7 posts)
31. With more dollars you lessen the value of the dollar.
Sat Sep 1, 2012, 08:10 PM
Sep 2012

The "trickle down" effect doesn't work with inflation. Those at the bottom of the pyramid only see an increase in prices. But hey, it's great for those who get to see the money first, banks etc.

JDPriestly

(57,936 posts)
200. It depends, seems to me. If you increase the number of dollars and at the same
Sun Sep 2, 2012, 01:01 AM
Sep 2012

time, productivity increases, then prices which are defined as the value of goods in terms of money might stay the same or even become lower.

If you produce ten ears of corn in year one with each ear selling to the consumer for $1.00 and then you produce 20 ears of corn in year two with each ear costing the same to produce, the corn might be sold to the consumer for only 50 cents, assuming that the number of buyers for ears of corn remained the same.

I think that it isn't a matter of the dollar having an absolute value that can be threatened if more dollars are printed (although that is one possibility) but rather of the availability of dollars to express market values -- supply and demand values.

The mistake people make is to think of the dollar as having a static value. It doesn't. Money is the symbol for the flow of energy, of work, of resources and of goods. Money is just a symbol. Increasing the money supply way out of proportion with the increase of productivity is a problem.

But compare the cost of a PC now and 20 years ago. There is a huge difference. Part of it is because the labor is being very poorly paid, but part of it is because the process for making PCs and the amount of resources and materials required to produce one have been drastically reduced.

So the Fed could increase the money supply and you might be able to generally predict inflation, but it would not necessarily be true -- especially in this age when everything is being produced and marketed more efficiently and more cheaply.

The recession brought price deflation, not price inflation.

Loudestlib

(980 posts)
34. inflation
Sat Sep 1, 2012, 08:14 PM
Sep 2012

It also causes inflation which raises prices mostly on the poor. Easing was needed in the beginning to fight deflation but they may have over used it.

girl gone mad

(20,634 posts)
273. The Fed is quasi-private.
Mon Sep 3, 2012, 02:45 AM
Sep 2012

Profits and losses accrue to the government, but it's the private banking cartel that reaps virtually all of the benefits of Fed's policies such as ZIRP and quantitative easing.

The Fed was largely responsible for blowing up the housing bubble, driving up commodities prices, punishing retirees and savers to prop up zombie banks, requiring the government to pay interest to banks for issuing our own sovereign currency. It's way past time to end this Fed.

 

xFiFtyOnE

(7 posts)
44. He's been buying gold an mining stocks since Nixon delinked the dollar from gold.
Sat Sep 1, 2012, 08:22 PM
Sep 2012

Seems like he knows a thing or two about monetary policy. Call him crazy all you want but he bought gold when it was around $35 and ounce and is now like $1,600 an ounce. Seems pretty smart to me.

lovuian

(19,362 posts)
48. It seems a group of people are trying to destroy America
Sat Sep 1, 2012, 08:32 PM
Sep 2012

by destroying our economy and the dollar

in this Audit we see the name of the people participating in this plan of destruction

Congress after it reads this Audit will have to conduct the FULL Audit

Corruption is RAMPANT through out the Fed and Banks and Corporations

Some people have to go to prison for Fraud

if they don't do it
NOBODY is going to put money into our banks and corporations

we are talking about cleaning house ...Glass Steagell

LSK

(36,846 posts)
64. I dont see Bernie Sanders going around trying to deregulate everything and spewing free trade BS
Sat Sep 1, 2012, 08:45 PM
Sep 2012

sabrina 1

(62,325 posts)
73. But you do see Bernie Sanders and Alan Grayson demanding that the Fed be audited.
Sat Sep 1, 2012, 08:49 PM
Sep 2012

Are they nuts too?

lovuian

(19,362 posts)
115. The Partial Audit showed MASSIVE CORRUPTION in the FEDERAL RESERVE
Sat Sep 1, 2012, 09:11 PM
Sep 2012

as a result the Asking for the Audit was JUSTIFIED
now we are asking for a FULL AUDIT

and Congress will be put in the Spotlight on voting for it


the damage is already done
Corruption was found in the trillions

 

Zalatix

(8,994 posts)
82. I don't see why Ron Paul even got brought into this discussion.
Sat Sep 1, 2012, 08:54 PM
Sep 2012

Seeing as the OP is about something that BERNIE SANDERS said.

 

Zalatix

(8,994 posts)
103. That is a bald-faced lie. I have never defended Ron Paul. You have never seen me do so.
Sat Sep 1, 2012, 09:05 PM
Sep 2012

Ron Paul was mentioned in an attempt to distract the thread from Bernie Sanders' audit of the Fed and his discovery of $16 trillion in thefts from US taxpayers.

Ron Paul has no relevance to this thread.

 

banned from Kos

(4,017 posts)
65. They are political opportunists.
Sat Sep 1, 2012, 08:45 PM
Sep 2012

No serious liberal economist is spouting this Audit the Fed bullshit.

sabrina 1

(62,325 posts)
74. Finally, just as I expected. Why did it take you so long?
Sat Sep 1, 2012, 08:51 PM
Sep 2012

So two of the most respected progressives are inyo, 'political opportunists'. Shameful to see this here so blatantly on this forum. But at least you have revealed yourself at last.

sabrina 1

(62,325 posts)
92. A very transparent ploy, and a weak one. I just wanted to give the poster the opportunity
Sat Sep 1, 2012, 08:59 PM
Sep 2012

to explain why such well respected Progressives as Alan Grayson and Bernie Sanders support Auditing the Fed. As you saw, he revealed what many have suspected for a long time, he views these Progressives who actually work FOR the people, as 'political opportunists'. I am appalled that these views are acceptable on this board.

 

Zalatix

(8,994 posts)
110. We have a very schizophrenic situation on the DU.
Sat Sep 1, 2012, 09:08 PM
Sep 2012

On one hand you can be PPR'd for expressing right wing opinions.

On the other hand you can spout right wing opinions all day long and say "this is an all-inclusive, big tent party".

It's turning into a house built on WILDLY shifting sands.

sabrina 1

(62,325 posts)
121. Well, I have not alerted on the posts trashing a Democrat as a 'political oppurtunist'
Sat Sep 1, 2012, 09:16 PM
Sep 2012

who is currently running for Congress to try to help regain our control of Congress, even though I believe that may be a TOS violation. I do think it's time that these views, usually cleverly hidden and avoided, now made clear, need to be seen to be believed.

Trashing Sanders and Grayson to try to defend the corruption on Wall Street and for their efforts to work for the American People, a hard enough job to do, and to see a member of this board delight in the fact that Grayson was beaten by Wall Street money, is something I would have thought would be at least hideable.

But things are not as they used to be, and that comment appears to be getting support, however cleverly the support is couched in the 'Ron Paul' meme.

I like to know where I stand and this thread has been extremely revealing.

sabrina 1

(62,325 posts)
97. Amazing, isn't it? Trashing good Democrats and Bernie Sanders who always
Sat Sep 1, 2012, 09:01 PM
Sep 2012

caucuses with the Democrats, is now openly stated on this board. I'm wondering if that violates the TOS of this board. Grayson is running for Congress and right here on DU he has been trashed, called a 'political opportunist'.

 

banned from Kos

(4,017 posts)
112. Yes, he is. Democrats don't support this Audit the Fed bullshit.
Sat Sep 1, 2012, 09:10 PM
Sep 2012

Most Senate Democrats voted to reappoint Bernanke after President Obama's lead.

If you don't like it go find another party.

 

Zalatix

(8,994 posts)
116. Alan Grayson disagrees. BTW he is also running for office as a Democrat.
Sat Sep 1, 2012, 09:11 PM
Sep 2012

Calling him a political opportunist is probably against TOS.

sabrina 1

(62,325 posts)
192. Wrong again. More than half of our elected Democrats in Congress
Sat Sep 1, 2012, 11:19 PM
Sep 2012

voted for the latest bill to audit the Federal Reserve. It was sponsored by an amazing 315 members, a record in bi-partisan support for any bill. And a reflection on what the people want.

And over 80% of the American people support NOT bailing out crooked banks and holding Wall Street accountable. Not a single Democrat I know personally opposes what Bernie and Alan Grayson and the rest of the Dems voted for.

Democrats want accountability, transparency, they are not like Republicans, in favor of covering up the shenanigans of the thieves on Wall Street.

As for the Senate, Harry Reid may have to change his mind, as he will be hearing from the people on this. And when he does, the rest of them will get on board and do the right thing. He does not right now represent the Democratic people who have shown in polls where they stand on these issues. It's past time he starts listening.

Zorra

(27,670 posts)
247. Fail. "Economists Opposing Fed Audit Have Undisclosed Fed Ties"
Sun Sep 2, 2012, 12:33 PM
Sep 2012
Economists Opposing Fed Audit Have Undisclosed Fed Ties

Meanwhile, a broad coalition of liberal organizations is lining up behind the Paul-Grayson amendment, which also has the backing of most Republicans on the committee.

The AFL-CIO and other labor groups, as well as Americans for Financial Reform signed on to a letter posted Wednesday calling for committee members to back the Paul-Grayson approach.


Generally, those who oppose audits either do so because they have much to hide, or, for some reason, support those who have much to hide.

They cannot withstand transparency.

 

Zalatix

(8,994 posts)
75. You avoid the question because you already lost the argument.
Sat Sep 1, 2012, 08:51 PM
Sep 2012

Bernie Sanders and Alan Grayson are saying the same thing. Your attempts to bring Ron Paul into this amount to nothing but a petty distraction.

Warren DeMontague

(80,708 posts)
84. Why are you trying to dispute my assertion that RON PAUL is a FUCKING NUT?
Sat Sep 1, 2012, 08:55 PM
Sep 2012

Please, if you have substantial evidence to challenge my assertion that Ron Paul is a FUCKING NUT, please enlighten us all with the detailed defense of Ron Paul you seem so emotionally invested in presenting.

I state this seeing as you are reflexively and repeatedly challenging the ONE and ONLY statement I have made in this thread, ie that Ron Paul is a FUCKING NUT.

Otherwise, it is you, not I, who has lost the "argument".

 

Zalatix

(8,994 posts)
90. There was no reason for you to bring Ron Paul into this, except to distract the issue.
Sat Sep 1, 2012, 08:58 PM
Sep 2012

This thread is about Bernie Sanders' audit of the Fed. It is NOT about RON PAUL.

So yes, you lost this argument - because your argument was utterly lost from the get go. It has wandered totally off topic.

Once again: This thread is about Bernie Sanders' audit of the Fed. It is NOT about RON PAUL.

sabrina 1

(62,325 posts)
104. Why not? It's a very simple question. Bernie Sanders and Alan Grayson who is running
Sat Sep 1, 2012, 09:05 PM
Sep 2012

for Congress as a Democrat btw, have now been called on this forum 'political opportunists'. Do you agree with that? Are they political opportunists as claimed by the guy who was banned from Kos, another liberal forum?

Warren DeMontague

(80,708 posts)
114. You know whats funny? When people think they are entitled to demand random answers on shit.
Sat Sep 1, 2012, 09:11 PM
Sep 2012

News flash: i am responsible for my statements, and not someone else's. I have made one, and precisely one, assertion in this thread. Do you know what it is?

Warren DeMontague

(80,708 posts)
120. Ive made one comment. That Ron Paul is a fucking nut.
Sat Sep 1, 2012, 09:15 PM
Sep 2012

I think its funny that some folks find that so upsetting.

 

Zalatix

(8,994 posts)
124. This thread is about Bernie Sanders discovering $16 trillion stolen from taxpayers. NOT Ron Paul.
Sat Sep 1, 2012, 09:18 PM
Sep 2012

We're upset because you went off-topic and tried to discredit Bernie Sanders by bringing up Ron Paul.

 

Zalatix

(8,994 posts)
135. Upset? Nope, I'm glad we've established that there was no reason to bring Ron Paul into this.
Sat Sep 1, 2012, 09:25 PM
Sep 2012

Plus I'm not the one complaining about being "interrogated" MacLOL!!!-style.

I knew from the get-go that you were trying to distract this discussion away from Bernie Sanders' discovery of $16 trillion in thefts from American taxpayers.

Warren DeMontague

(80,708 posts)
155. I think it's funny when people get all huffy and demand random answers and shit.
Sat Sep 1, 2012, 09:44 PM
Sep 2012

"Ooooh! oooh! I've got you now!"



Speaking of LOL.

Warren DeMontague

(80,708 posts)
88. Like Ron Paul, Bernie Sanders and Alan Grayson are carbon based life forms.
Sat Sep 1, 2012, 08:58 PM
Sep 2012

Ron Paul is, additionally, a FUCKING NUT.

Warren DeMontague

(80,708 posts)
102. Okay, then, kick me out of it. Or something.
Sat Sep 1, 2012, 09:04 PM
Sep 2012

Because AFAIAC, this sub thread is about the fact that RON PAUL is a FUCKING NUT, a fact I will happily reiterate every chance I get.

 

Zalatix

(8,994 posts)
105. You had no reason for bringing him into this thread. This thread is about Bernie Sanders
Sat Sep 1, 2012, 09:06 PM
Sep 2012

and his discovery of $16 trillion stolen from American taxpayers.

Ron Paul is a nut. And he is also OFF TOPIC.

Warren DeMontague

(80,708 posts)
108. Follow the train back up the chain
Sat Sep 1, 2012, 09:08 PM
Sep 2012

And you will see that statement did not come out of thin air.

I am glad we are in agreement on Ron Paul's fundamental nut fuckingness.

 

Zalatix

(8,994 posts)
113. This thread is about Bernie Sanders discovering $16 trillion stolen from taxpayers.
Sat Sep 1, 2012, 09:11 PM
Sep 2012

Do you realize what portion of our national debt that accounts for?

 

Zalatix

(8,994 posts)
96. How about Bernie Sanders, is he nuts also?
Sat Sep 1, 2012, 09:01 PM
Sep 2012

Let me be blunt - this thread is about Bernie Sanders. It will stay about Bernie Sanders.

Ron
Paul
Is
IRRELEVANT.

Response to Zalatix (Reply #137)

Response to Zalatix (Reply #141)

 

Zalatix

(8,994 posts)
146. How many times have you screamed the obvious "Ron Paul is a NUT"?
Sat Sep 1, 2012, 09:31 PM
Sep 2012

How many times have you discussed Bernie Sanders' discovery of $16 Trillion in thefts from the American taxpayer?

Response to Zalatix (Reply #146)

 

Zalatix

(8,994 posts)
154. Yeah, I didn't answer it.
Sat Sep 1, 2012, 09:44 PM
Sep 2012

In your own words, "Tough". I'm sure you remember saying that, right?

I'm moving this discussion back on-topic. This thread is about Bernie Sanders.

How many times have you screamed the obvious "Ron Paul is a NUT"? How many times have you discussed Bernie Sanders' discovery of $16 Trillion in thefts from the American taxpayer?

Response to Zalatix (Reply #154)

 

Zalatix

(8,994 posts)
164. Right here
Sat Sep 1, 2012, 09:50 PM
Sep 2012

"As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."

...

To Sanders, the conclusion is simple. "No one who works for a firm receiving direct financial assistance from the Fed should be allowed to sit on the Fed's board of directors or be employed by the Fed," he said.


In other words, MORAL HAZARD. THEFT.

Response to Zalatix (Reply #164)

 

Zalatix

(8,994 posts)
177. Are you kidding me? It's FRAUD. You do know that FRAUD means THEFT, right?
Sat Sep 1, 2012, 10:16 PM
Sep 2012

That's like saying someone towed your car without just cause but you don't wanna call it theft.

Response to Zalatix (Reply #177)

Response to Zalatix (Reply #202)

 

Zalatix

(8,994 posts)
222. It was done IN SECRET. That's fraud, theft.
Sun Sep 2, 2012, 04:52 AM
Sep 2012

You try moving other people's money around without their knowledge or consent and see what you're accused of.

Go ahead, try it.

It's THEFT.

Warren DeMontague

(80,708 posts)
95. How about Jello Biafra and Ricardo Montablan?
Sat Sep 1, 2012, 09:00 PM
Sep 2012

What do they have to do, if anything, with the fact that RON PAUL is a FUCKING NUT?

sabrina 1

(62,325 posts)
101. How about Bernie Sanders and Alan Grayson who are demanding that the Fed be
Sat Sep 1, 2012, 09:03 PM
Sep 2012

audited, are they nuts? It's a simple question, seriously. And what does Ron Paul or Jello Biafra have to do with my question?

Warren DeMontague

(80,708 posts)
106. What did I say?
Sat Sep 1, 2012, 09:06 PM
Sep 2012

I said "RON PAUL is a FUCKING NUT"

If you have an issue with that statement, please, rebut it.

Warren DeMontague

(80,708 posts)
122. Then stay out of the subthread which brought ron paul into it, that would be my advice.
Sat Sep 1, 2012, 09:16 PM
Sep 2012

Course, it is your call.

 

Zalatix

(8,994 posts)
128. No. I intend to vigorously challenge any attempts at connecting Ron Paul to Bernie Sanders.
Sat Sep 1, 2012, 09:19 PM
Sep 2012

There is no connection. Ron Paul is still irrelevant.

Warren DeMontague

(80,708 posts)
131. They share 99.99% of the same DNA, and are both bipedal primates
Sat Sep 1, 2012, 09:22 PM
Sep 2012

Both have been known, on occasion, to wear pants.

AtheistCrusader

(33,982 posts)
218. RP and his paulbots have been lighting up congressional phone lines on demand
Sun Sep 2, 2012, 04:12 AM
Sep 2012

for this issue, so I would hesitate to call him 'irrelevant', rather a contributor. Kucinich as well.

Remove their support, and I'm not convinced Sanders gets where he is today on this issue. Do you?

This in no way lends, suggests, or implies any credence to Paul's other agendas.

 

Zalatix

(8,994 posts)
224. Bernie Sanders comes to his own conclusions whether or not the Paulites even exist.
Sun Sep 2, 2012, 05:00 AM
Sep 2012

You're not even questioning the validity of his own discoveries regarding the Fed, you're talking about Ron Paul and his band of crazies.

When do we start discussing the thefts that Bernie Sanders discovered? Or is this just an attempt at distraction?

AtheistCrusader

(33,982 posts)
246. Look at the dates.
Sun Sep 2, 2012, 12:08 PM
Sep 2012

The Fed Audit
July 21, 2011


See the date?


"Rep. Ron Paul (R-Texas) won a rare legislative victory on Wednesday when the House passed his legislation allowing for a full audit of the Federal Reserve, including an audit of the Fed's monetary policy decisions.

The House approved Paul's Federal Reserve Transparency Act, H.R. 459, in a bipartisan 327-98 vote. The vote split Democrats almost evenly — 89 for and 97 against — while only one Republican, Rep. Robert Turner (R-N.Y.), voted against it.

The bill won an easy majority, given its 270 co-sponsors, and easily cleared the two-thirds majority needed for passage, which was required because it was considered under a suspension of the rules."


http://spectator.org/blog/2011/12/02/ron-paul-and-company-vindicate

Sanders is talking about the RESULTS of that audit. Ron Paul made the house (and first version) of the bill happen. It's practically the only thing he's ever done in 28 years in Congress. He also rallied his robotic ayn rand minions to choke congress with phone calls, letters, chants of 'Audit the fed', etc.

There's nothing wrong with acknowledging where it came from. Sanders is responsible for the Senate side of the bill. Good times. Good work.

I don't see why this point is controversial with you.

http://en.wikipedia.org/wiki/Federal_Reserve_Transparency_Act


And there are more people who are due credit. Kucinich, Grayson etc.

 

Zalatix

(8,994 posts)
259. Bernie Sanders does not sign onto things that he himself has not checked.
Sun Sep 2, 2012, 04:11 PM
Sep 2012

Ron Paul's efforts are not connected to Bernie Sanders' investigation.

sabrina 1

(62,325 posts)
111. Start another thread. Meantime, my question remains unanswered by you.
Sat Sep 1, 2012, 09:10 PM
Sep 2012

Are Bernie Sanders and Alan Grayson 'political oppurtunists' and 'nuts' as claimed, shockingly on this forum, by someone else in this thread. Do you agree with this assessment of these two Progressives?

Warren DeMontague

(80,708 posts)
118. I might answer your orig. question if you werent acting like you're Macloud doing an interrogation
Sat Sep 1, 2012, 09:14 PM
Sep 2012


As it is, i will state again: RON PAUL is a fucking NUT. Since you seem to have a problem with that statement, rebut it before you try to change the subject.
 

Zalatix

(8,994 posts)
268. He had the help of the GAO.
Mon Sep 3, 2012, 12:26 AM
Sep 2012

And that's why you're wrong... Ron Paul is irrelevant.

This Ron Paul bullshit is all an attempt to discredit Bernie Sanders' findings. An attempt that is more transparent than you probably imagined it would be.

You're not going to win with me. I stand behind Bernie Sanders, come hell or high water.

 

Zalatix

(8,994 posts)
270. Enough with the distraction tactics.
Mon Sep 3, 2012, 12:51 AM
Sep 2012

Bernie Sanders found TRILLIONS in fraudulent activity (read: theft). We need to punish those responsible for moving that money, IN SECRET, out of the country.

We do not need to bother with rants about Ron Paul.

AtheistCrusader

(33,982 posts)
271. It's ok, I knew you couldn't.
Mon Sep 3, 2012, 01:34 AM
Sep 2012

On the Senate side, Sanders did everything he could, and he had help from awesome people like Kucinich, and Grayson. Good people all.

In the House, Sanders had no pull. Paul wrote that bill. He and his supporters got the entire republican party to break ranks with the crony capitalists, no mean feat in itself, and got it passed. Without that, Sanders efforts would be in vain. It only takes a moment to acknowledge the ONE thing in almost 30 years of being in the House, that RP accomplished, because it helped us mightily.

Now, that said, that report uncovered the total 16tn in loans more than a year ago. Before you go off half-cocked, you should understand that it wasn't a total 16tn, it was more or less the same 1tn in a revolving door of made and repaid loans. That distinction is important because while it means the taxpayers were exposed to a total 16tn in liability over the life of the activity, at any given time the exposure was more like 1tn, and if the deals had gone bad, it would have stopped there.

Not to diminish a trillion dollars though. Still monumentally criminal. And I agree with you that we need to prosecute.


Sanders is a good dude. If he drinks, I'd like to buy him a case of whatever he likes. He has done us an enormous service. One we cannot repay. But please do not pretend he did it alone.

 

Zalatix

(8,994 posts)
281. We need to punish those responsible for moving that money, IN SECRET, out of the country.
Mon Sep 3, 2012, 04:45 AM
Sep 2012

From here on this is what I will talk about. Nothing else.

AtheistCrusader

(33,982 posts)
287. Fair enough.
Tue Sep 4, 2012, 02:03 AM
Sep 2012

Now, where do we start?

I hesitate to make this an election issue for Obama, (via the DoJ) because what's the alternative if he gets hurt on this issue? Romney?
What can we do?

AtheistCrusader

(33,982 posts)
290. His DoJ isn't really doing much on the issue.
Tue Sep 4, 2012, 11:35 AM
Sep 2012

How do we apply pressure to them to START doing something about it, without making it an election issue?

Edit: I mean, it's not like we can boycott the federal reserve.

sabrina 1

(62,325 posts)
132. I might take you seriously if you weren't having such a hard time supporting two of the most
Sat Sep 1, 2012, 09:22 PM
Sep 2012

well known Progressive advocates for the American people. Bernie Sanders and Alan Grayson, and your weak, lame attempt to insert Ron Paul into the discussion is simply laughable.

Sanders is the topic of this OP. Not Ron Paul, and yet you seem to be struggling hard not to simply support the guy who has fought so hard against the corruption on Wall Street and for the American people. He is a national treasure, it should not be so hard to simply support him against the attacks on his character in this thread.

Just fyi, the old way over used-up ron paul distraction lost its impact a long time ago. It does not obliterate the lack of support for Grayson, who is running for Congress as a Democrat, and Bernie Sanders.

 

Zalatix

(8,994 posts)
148. We're discussing Bernie Sanders' discovery of $16 Trillion stolen from American taxpayers
Sat Sep 1, 2012, 09:33 PM
Sep 2012

at what point do you ever decide to discuss this, which is the thread's topic?

sabrina 1

(62,325 posts)
144. But you didn't respond to me who was not promoting Ron Paul but who was promoting
Sat Sep 1, 2012, 09:30 PM
Sep 2012

Bernie Sanders and Alan Grayson who want the Fed Reserve audited. And you still have not stated whether you agree with them or not.

sabrina 1

(62,325 posts)
160. Lol, just amazed at how hard it is to get someone to either confirm or deny that they
Sat Sep 1, 2012, 09:46 PM
Sep 2012

believe that Sanders and Grayson are 'political opportunists' and/or 'nuts'.

If someone asked me that question, my immediate response would be 'Hell No!' Easy, simple and succinct.

Warren DeMontague

(80,708 posts)
151. First question you asked was, are they nuts too. No, Bernie Sanders and Alan Grayson are not, to my
Sat Sep 1, 2012, 09:41 PM
Sep 2012

mind, nuts, unlike Ron Paul.

Do you think Paul Krugman is nuts?

Warren DeMontague

(80,708 posts)
161. Yes, you think Paul Krugman is nuts?
Sat Sep 1, 2012, 09:46 PM
Sep 2012

What's the second 'simple question' you're demanding I answer, Counselor?

sabrina 1

(62,325 posts)
170. Well, I think in fact I do have my answer. Silence means consent, Counselor!
Sat Sep 1, 2012, 09:59 PM
Sep 2012

You have avoided opposing the claims made here in this thread that Sanders and Grayson are 'political opportunists' and/or nuts. That is your choice. My choice is to take that reluctance to mean that you agree with those claims.

How sad, I never thought I would see the day on DU where Sanders and Grayson would be so trashed. And all because of the fact that they want transparency where the people know what is going on their own government.

Warren DeMontague

(80,708 posts)
172. Why are you trying to make me responsible for what someone else said? I'm not.
Sat Sep 1, 2012, 10:04 PM
Sep 2012

"how sad"



Nice try. Try again.




How do you feel about people in this thread blatantly misrepresenting the words of Sen. Sanders, asserting he made claims about "16 Trillion in thefts" when nowhere on his site does he use language even remotely resembling that?

sabrina 1

(62,325 posts)
176. Make you? Lol, I guess each time someone engages me in a discussion
Sat Sep 1, 2012, 10:13 PM
Sep 2012

they are trying to 'make me' do something? I was curious, how many people here have retained the principles they had when Bush was president when airc, we were screaming to know what was going on Wall Street and at the Fed Reserve and how many had 'changed' their minds.

You are free to oppose the transparency Grayson and Sanders are asking for, and I am free to support them.

I suppose I could accuse of you of trying to silence me by injecting your 'fuck ron paul' comments into the discussion, but no one has that kind of power over me. I know all the tricks and mostly ignore them and try to stay on the topic they are so desperately trying to distract from.

So don't worry, I will not play the victim and accuse you of trying to 'make me' do anything, because you couldn't anyhow, even if you were trying.

Warren DeMontague

(80,708 posts)
178. Sigh. I was responding to someone who brought up Ron Paul. Post #6.
Sat Sep 1, 2012, 10:17 PM
Sep 2012

Trust me, it takes more than some yargle bargle on DU to ruffle my feathers.

Short answer on all this? I wasn't thrilled with stuff like TARP, but they prevented a much larger collapse of the, yes, global financial system.

I support transparency, but transparency also implies honesty. And claiming Sanders said "16 Trillion was Stolen" when he did no such thing, is dishonest.

sabrina 1

(62,325 posts)
183. Well that had nothing to with me as I did not misquote Bernie Sanders.
Sat Sep 1, 2012, 10:36 PM
Sep 2012

What he did say was bad enough. That the audit which was so opposed by Wall Street, revealed the shocking information that 16 trillion and maybe more, which is why we need more audits, was distributed by the Fed to bail out Foreign Banks. That is simply shocking.

They were hiding this from the American people. I give credit for the few in Congress who are not protecting these criminal on Wall St and are looking out, as they are supposed to do, for the American people.

I opposed the bailouts, under Bush and Obama and I do not believe they benefited the American people, not one bit. They benefited the Bankers, they got them off the hook, they allowed them to reward themselves with big bonuses for FAILING, or worse, for committing fraud against the American people.

I spent that whole weekend along with millions of other Americans calling congress asking them NOT to get them off the hook. And Congress responded to the overwhelming opposition from the people, and voted against the bail outs.

But then King Henry Paulson as we now know, threatened them, as revealed by Democrats in Congress, into going back and voting for them.

This was in clear opposition to the will of the people who opposed them across party lines by an overwhelming majority.

I wanted them to do what Iceland did when they discovered the corruption in their banking system.

What did all this do for the American people? How about Main Street? Millions are still being thrown out in the street, unlike the wealthy, there was no bailout for them. I see the homeless right here in S. Ca every day, many of them victims of those illegal foreclosures.

I like millions of other Americans are simply disgusted with the weakness of our government when dealing with War Criminals and Economic Criminals while throwing more and more ordinary Americans in jail for things like being hungry and stealing some food.

There is simply nothing that will change or has changed my or anyone else's opinion on the disgraceful bailing out of failed institutions simply because they have bought influence in Congress and the people have not.

Now we learn it is even worse than we thought. They were sneaking trillions of dollars to FOREIGN banks, while still taking away the homes of ordinary Americans. This is an outrage and thankfully at least Bernie Sanders and a few others in Congress see it for it is. There are no excuses for this, sorry.

 

Zalatix

(8,994 posts)
186. Nobody said "theft" was Bernie Sanders' exact words.
Sat Sep 1, 2012, 10:50 PM
Sep 2012

But what he said he discovered, was logically synonymous with theft.

He pointed out secret loans, and incidents of moral hazard. That's fraud. Which means theft.

Warren DeMontague

(80,708 posts)
196. Speaking of knowing what things mean, do you know what "Moral hazard" actually means?
Sun Sep 2, 2012, 12:33 AM
Sep 2012

The whole bailout was a "moral hazard", because free market purists (like... oh, never mind) believe that ANY government interference in markets, or bailouts, or the like, constitute a "moral hazard" because the negative consequences for bad decision-making are removed, thus encouraging repeat performances. And they have a point, to a certain extent.

EXCEPT, in this case, the consequences quite probably would have included the collapse of the entire global financial system, which would have been a clusterfuck for ALL of us.

 

Zalatix

(8,994 posts)
203. Wow, you don't understand what "moral hazard" is, do you?
Sun Sep 2, 2012, 01:21 AM
Sep 2012

It's not something invented by Ron Paul.

Bernie Sanders described a classic conflict of interest. That's a moral hazard. Fraud. THEFT.

sabrina 1

(62,325 posts)
205. Yes, I agree. What they discovered should have been reason to call a special session of
Sun Sep 2, 2012, 02:05 AM
Sep 2012

Congress and the beginning of an investigation to find out who received this money. We are told we have a deficit, we have no money to pay it, so the working poor have to give up some of their benefits, the elderly face cuts in SS and Medicare. Yet, here we find we are apparently so wealthy we could provide a Universal HC System, pay off the deficit, fund a huge jobs program such as re-building the infrastructure.

I feel sick at the sheer corruption of it all and the lies and even more so, at the collusion of our elected officials, and the defense of all of this even by some people on this forum.

Response to sabrina 1 (Reply #205)

sabrina 1

(62,325 posts)
216. ???
Sun Sep 2, 2012, 04:06 AM
Sep 2012

Did you mean this post for someone else? I don't recall mentioning the deficit in this thread and if you're trying to infer that what is going on at the Federal Reserve is only being done for our benefit, you'll have to try to sell that someone else. Re the deficit, I am more than aware of the deficit, and have written several OPs about it in relation to SS, what caused it and how to reduce it.

I think you are confused. This topic is about the audit of the Federal Reserve and the secret funds they have been distributing to foreign banks without the people's knowledge, but it's very hard to keep some people on topic for some reason.

Response to sabrina 1 (Reply #216)

sabrina 1

(62,325 posts)
220. You are making no sense at all now. Your claim was that I somewhere said there was no
Sun Sep 2, 2012, 04:49 AM
Sep 2012

deficit.

Now you link to a comment with a list of what could have been paid for with a small fraction of the money the Feds have been stuffing the pockets of Foreign Banks with, supposedly risk free. On that list I included the deficit, which totally contradicts your claim that I stated there was no deficit. What exactly is your point?

The audit of the Fed Reserve has revealed something important and shocking that the people would have remained unaware of had Wall Street succeeded in hiding it from us. Trillions of dollars being doled out by a few unelected individuals who themselves are in a position to benefit from their decisions. This is not how Democracy works, it cannot work this way.

While I did not support the bailout, at least Congress got to vote on it. And the people were led to believe that the amount approved of was the total amount of the bailouts. That was a massive lie as we now know.

Your entire presence in this thread has been an attempt to distract from the topic of the OP.

My question is 'why'?

sabrina 1

(62,325 posts)
226. I'm sure you're trying to convey something
Sun Sep 2, 2012, 05:57 AM
Sep 2012

What you have conveyed whether intentionally or not is that for some reason you do not want to discuss the topic of the OP.

16 trillion dollars, (and we told, that is just the tip of the iceberg) handed out like candy to insiders and foreign banks, by unelected individuals, with no oversight, people who themselves were in a position to benefit from their decisions as to who should get a welfare check from the Feds.

So now we are not just the world's unwanted policemen, we are the world's Central Bank, well for the already wealthy, the corrupt banksters who caused the Global Financial Meltdown.

I would love to be the recipient of one of those handouts. I love socialism but for everyone, not just for the Global Capitalists.

How ironic, that the Ayn Rand worshippers are the ones who are on social welfare.. When they fail, or commit fraud and can't hide it any longer, the US Feds are there like the welfare state they so despise, to bail them out.

Warren DeMontague

(80,708 posts)
230. "16 Trillion Dollars handed out like candy"... Er, Did you actually read the GAO report?
Sun Sep 2, 2012, 07:05 AM
Sep 2012

Maybe you should.

Warren DeMontague

(80,708 posts)
214. Anyway, you can't seem to find me saying the things you wish I would say, so you want to hang
Sun Sep 2, 2012, 03:25 AM
Sep 2012

someone else's words on me.

Pretty lame.

Also, yes, fuck Ron Paul, who is a FUCKING NUT. You want to complain about it, take it up with the now PPR'd troll who brought him up.

Harry Reid is blocking a senate vote for an audit of the Fed.

Ron Pauls bill to audit the Fed passed the House and Harry says he won't let the bill see the light of day in the Senate.


Funny, you didn't feel compelled to throw a tantrum over the shit he was saying, even though my posts, apparently, are enough to cause a massive flip-out.
 

Zalatix

(8,994 posts)
204. I didn't misrepresent Sanders. Sanders described THEFT without using the exact word.
Sun Sep 2, 2012, 01:24 AM
Sep 2012

And the language he used quite closely resembled THEFT.

Warren DeMontague

(80,708 posts)
174. Show me where Senator Sanders used that word, "stolen", and I'll answer.
Sat Sep 1, 2012, 10:05 PM
Sep 2012

I do know I don't like people misrepresenting the words of a valued member of the United States Senate.

AtheistCrusader

(33,982 posts)
267. You forgot Kucinich.
Mon Sep 3, 2012, 12:16 AM
Sep 2012

Sanders is awesome, Grayson is awesome, Kucinich is awesome.

Paul is not awesome, he's a fucking unmitigated disaster on no end of social issues, but he DID write the House version of the bill Sanders sponsored in the Senate.

sabrina 1

(62,325 posts)
30. You mean Bernie Sanders and Alan Grayson's audits. Very nice try, but you have to
Sat Sep 1, 2012, 08:07 PM
Sep 2012

remember that DUers are very smart people.

Alan Grayson: 'Audit the Fed'! Another great progressive Democrat.

lovuian

(19,362 posts)
39. Did you see the GAO report Its about Conflict of Interest
Sat Sep 1, 2012, 08:19 PM
Sep 2012

we have Federal Reserve Board members voting for bailouts on corporations that they have interest in the banks and corporations

Everybody knows this is illegal and wrong

Congress can not turn its back on this Corruption if they do ....take their names they are complicit in FRAUD

sabrina 1

(62,325 posts)
46. Just stop! Trillions of dollars have gone to bail out foreign banks. This is NOT going to be
Sat Sep 1, 2012, 08:27 PM
Sep 2012

explained away with clever attempts to pretend this is simply as Ron Paul issue. So give it up, we are not buying what you are trying to sell.

I support Alan Grayson's quest for answers to this outrageous revelations and frankly the fact that you are trying to silence people like Grayson, makes me wonder, 'why'?

sabrina 1

(62,325 posts)
63. I don't believe you. And FYI, Grayson is running again.
Sat Sep 1, 2012, 08:43 PM
Sep 2012

He lost because millions of dollars were poured into defeating him BECAUSE he stand up against this kind of corruption. Thank you for reminding me, I need to make a donation to his campaign as they will work hard to try once again to keep him from investigating their corruption, to keep him from insisting on auditing the Fed.

lovuian

(19,362 posts)
26. the partial Audit is scary enough I don't know how Congress
Sat Sep 1, 2012, 08:01 PM
Sep 2012

can oppose a FULL audit after the results

if they do they are complicit to corruption and stealing

their names will be all over it ...no hiding now


roamer65

(36,745 posts)
10. One needs to look at the history surrounding the creation of the Federal Reserve...
Sat Sep 1, 2012, 07:21 PM
Sep 2012

to completely understand why it does what it does. It was created as a replacement to the House of Morgan. The House of Morgan bailed the US out of the 1907 financial panic, but the realization soon set among bankers of that time that the House of Morgan would not be around forever. The bankers needed a more permanent lender of last resort and that led to the creation of the Federal Reserve System in 1913. The Federal Reserve is nothing more than the old House of Morgan, but with one big exception...the power to create money itself.

Do not look for fairness or impartiality from the Federal Reserve, it is an institution created by bankers...to serve bankers.

 

banned from Kos

(4,017 posts)
15. pure right-wing bullshit
Sat Sep 1, 2012, 07:34 PM
Sep 2012

The Fed was created by Progressives to ameliorate financial panics like this.

http://en.wikipedia.org/wiki/Financial_Panic_of_1873

The Fed is a progressive monument.

Warren DeMontague

(80,708 posts)
16. The Illuminati created it so they could summon the Antichrist at the Bohemian Grove
Sat Sep 1, 2012, 07:41 PM
Sep 2012

with their arcane, Jesus-hating rituals, silly!

 

banned from Kos

(4,017 posts)
19. And the StoneMasons - don't forget them.
Sat Sep 1, 2012, 07:48 PM
Sep 2012

Its funny that all the liberal economists miss this "Fed Audit" bullshit.

Instead Krugman and DeLong (the best of them) say "DO MORE" to the Fed. To us, the Fed is not being Keynesian enough.

gateley

(62,683 posts)
152. What do they mean by do more?
Sat Sep 1, 2012, 09:43 PM
Sep 2012

I get nervous about the Fed because of the power it wields. I remember an article about Greenspan titled "The Most Poweful Man In America". Then not too terribly long ago he said he'd been wrong (I don't recall about what, specifically, because I really just do not understand global economics).

So when Krugman, et al, advocate "more", do you know what they mean?

 

banned from Kos

(4,017 posts)
171. Greenspan admitted being wrong about the banks ability to "self correct"
Sat Sep 1, 2012, 09:59 PM
Sep 2012

He stupidly thought banks would correct their bad ways and not need any regulation.

He was dead wrong and admits it now.

gateley

(62,683 posts)
190. But he had the power to have his opinion listened to by TPTB.
Sat Sep 1, 2012, 11:04 PM
Sep 2012

That's what makes me uncomfortable -- who's to say Bernanke will be right?

Again, do you know what Krugman and the others mean by do more? And if so, do you agree?

JFN1

(2,033 posts)
17. No, the Fed is a private corporation
Sat Sep 1, 2012, 07:45 PM
Sep 2012

The name just suggests it is part of the governmet - the Federal Reserve is about as "federal" as Federal Express...

 

banned from Kos

(4,017 posts)
22. Nonsense. Seriously that is just ridiculous.
Sat Sep 1, 2012, 07:51 PM
Sep 2012
The Federal Reserve announced Monday it made a record $78.4 billion profit in 2010 as the central bank's unprecedented intervention into the financial system continued to produce a side benefit to the federal government.

The profit, which is paid to the U.S. Treasury, is a 65% increase over last year's payment of $47.4 billion, which was also a record. As the Fed's balance sheet has more than doubled to about $2.4 trillion since the 2008 financial crisis, it has pumped about $125 billion back into the government's coffers.


http://latimesblogs.latimes.com/money_co/2011/01/federal-reserve-2010-record-profit-financial-crisis-intervention.html

sabrina 1

(62,325 posts)
32. Why do you disagree with Progressives like Alan Grayson that the Fed needs to be
Sat Sep 1, 2012, 08:10 PM
Sep 2012

audited on a regular basis? And please, stop with the talking points attempting to attach this to the right wing. Is Alan Grayson a right winger now?

Congress is supposed to audit the Fed. What is your problem with this?

 

banned from Kos

(4,017 posts)
126. I am a Democrat - not a Progressive. I also support gun rights.
Sat Sep 1, 2012, 09:19 PM
Sep 2012

I have never claimed to be a Progressive.

sabrina 1

(62,325 posts)
142. If you are a Democrat you are progressive, there is no such thing as a regressive Democrat
Sat Sep 1, 2012, 09:29 PM
Sep 2012

Republicans are regressive, Democrats are progressive. If you don't understand the meaning of the words then I have to ask, when did you become a Democrat?

Republicans are regressive because they want to 'take this country back' to the dark ages.

Democrats are the opposite, they are progressive, as they want to keep this country progressing, beyond the fifties, progressing towards eliminating racism, sexism, Wall Street corruption, economic inequality eg. Strange that you so misinterpret the word that you would deny it.

By saying you are not progressive you are claiming to be a regressive Democrat. That is the other party. There are no such beings as regressive Democrats.

And what do guns have to do with this? I bet I could out shoot you at target practice any day? Where did you get the stereo-typical notion that Democrats are anti-guns?

 

banned from Kos

(4,017 posts)
149. You are truly a great poster.
Sat Sep 1, 2012, 09:36 PM
Sep 2012

I love your re-framing.

I am just a garden variety liberal in the end. But I know my labels well and you are working them to disparage me.

Excellent!

sabrina 1

(62,325 posts)
153. Resorting to playing the victim now? Either you are sure of who and what your are,
Sat Sep 1, 2012, 09:43 PM
Sep 2012

or you are not. I am not a great poster, I am a Democrat which makes it easy for me to not to have to make excuses about 'what kind of Democrat' I am. The Dem Party has a platform, the Dem Party is the Party of the People NOT the party of Wall Street.

It really is simple and takes no special skills other than a commitment to the ideals of the stated goals of the Party, to be able to see through those who are either NOT Dems or DINOs. DINOS have their own party, I do not know why they are trying to take over this one, although I could make a wild guess.

 

banned from Kos

(4,017 posts)
169. My favorite Dems today are Obama and Kirsten Gillibrand
Sat Sep 1, 2012, 09:56 PM
Sep 2012

Barney Frank is third. Are we DINO's?

I don't know?????

Zorra

(27,670 posts)
283. This: "I am a Democrat which makes it easy for me to not to have to make excuses
Mon Sep 3, 2012, 10:01 AM
Sep 2012

about 'what kind of Democrat' I am. The Dem Party has a platform, the Dem Party is the Party of the People NOT the party of Wall Street."

Sorry, but you really are a great poster, my dear sabrina 1.

 

banned from Kos

(4,017 posts)
286. Don't be foolish. The Fed is not Wall St - the Fed is inside the beltway DC
Mon Sep 3, 2012, 05:20 PM
Sep 2012

The Fed is a creation of progressive Democrats under the Woodrow Wilson era.

JFN1

(2,033 posts)
198. But it's still true.
Sun Sep 2, 2012, 12:48 AM
Sep 2012
From Wikipedia: The Federal Reserve System has both private and public components, and was designed to serve the interests of both the general public and private bankers. The result is a structure that is considered unique among central banks.
. . .
According to the Board of Governors, the Federal Reserve is independent within government in that "its monetary policy decisions do not have to be approved by the President or anyone else in the executive or legislative branches of government."

LSK

(36,846 posts)
23. do all Private Corporations have their boards appointed by Presidents and approved by the Senate?
Sat Sep 1, 2012, 07:54 PM
Sep 2012
http://www.federalreserve.gov/faqs/about_12591.htm

Sorry, its not a prisonplanet link for ya.

sabrina 1

(62,325 posts)
35. Alan Grayson questioning Fed Reserve General Inspector 'Is anyone minding the store at the Fed?
Sat Sep 1, 2012, 08:14 PM
Sep 2012


Definitely worth watching. No one is better at questioning these officials and not allowing them to get away with obfuscations and avoidance of the questions the people need answers to.

Thanks Alan.

lovuian

(19,362 posts)
43. thank you Sabrina ...Who is minding the store is right
Sat Sep 1, 2012, 08:22 PM
Sep 2012

Keynesian is one thing but that was for work projects which gave Americans Jobs like Hoover Dam
where is that money being channeled...into CEO bonuses

girl gone mad

(20,634 posts)
276. You are conflating the bank bailouts with the stimulus.
Mon Sep 3, 2012, 03:09 AM
Sep 2012

These are two distinctly different governmental operations.

sabrina 1

(62,325 posts)
188. And foreign banks. You're welcome, lovuian. I watched that testimony
Sat Sep 1, 2012, 10:56 PM
Sep 2012

as it happened. He is the best when he is in action like that. No wonder they spent so much money on trying to get rid of him.

And yes imagine of that 16 trillion had been spent on the American people, on education, on health care, on the elderly, the mentally and phsycally disabled, on creating jobs for the middle class, on rebuilding our infrastructure. The entire deficit could be paid off with that money.

But instead it goes to bail out foreign banks, who failed and whose practices were corrupt. I thought we were broke. This is shameful.

davidpdx

(22,000 posts)
289. It is actually part of the government
Tue Sep 4, 2012, 07:06 AM
Sep 2012

I won't get into the rest of the subject because it looks like 3 or 4 people are already having a nice time dumping on each other and I don't want a part in that.

http://en.wikipedia.org/wiki/United_States_Federal_Reserve

lovuian

(19,362 posts)
29. No outrage over the CONFLICT of Interest in AIG and GE and JP MORGAN
Sat Sep 1, 2012, 08:05 PM
Sep 2012

this is out and out conflict of interest and the GAO audit confirmed it

 

twins.fan

(310 posts)
42. Bernie Sanders is the greatest politician in the Congress today!
Sat Sep 1, 2012, 08:21 PM
Sep 2012

Vermont has turned out some great statesmen recently including Bernie Sanders and Howard Dean!

lovuian

(19,362 posts)
58. I agree just imagine without the audit we would
Sat Sep 1, 2012, 08:41 PM
Sep 2012

still be hearing bullshit from the Federal Reserve as well as JP Morgan

No convictions...the Attorney General is allowing the FRAUD if he sees the Audit results
the SEC is complicit ....

sabrina 1

(62,325 posts)
109. I agree, yet in this very thread Bernie Sanders and Alan Grayson have been called
Sat Sep 1, 2012, 09:08 PM
Sep 2012

'political oppurtunists' by a member of this forum.

Bernie is a national treasure and I have to say it is hard for me to be shocked, but seeing him trashed here on DU is pretty shocking.

girl gone mad

(20,634 posts)
278. This^
Mon Sep 3, 2012, 03:15 AM
Sep 2012

Last edited Mon Sep 3, 2012, 04:38 AM - Edit history (1)

The government, not a cabal of private bankers, should control our national currency

Perhaps the bankers can create their own currency, backed by gold or minerals or whatnot. Then if they want to create unsustainable debts and blow up bubbles to rake in unseemly amounts of profit, it won't effect the rest of us to the same extent, and we won't be forced to bail them out.

 

RegieRocker

(4,226 posts)
81. The great shell game
Sat Sep 1, 2012, 08:54 PM
Sep 2012

It pains me to see the ignorance of some who are unwilling to accept the truth... http://www.richmondfed.org/faqs/frs/

Shell game or smoke and mirrors your choice. The Fed is not private however the 12 federal reserve banks are. Also chosen board members from each of the twelve federal reserve banks sit on the federal reserve committee. So they have duped you with slight of hand. So if you claim its right wing wacko stuff it makes you look real stupid.

More right wing propaganda
http://occupywallst.org/forum/woodrow-wilson-regrets-over-creating-federal-reser/