Fed says "F U" to Bloomberg's FOIA request Re: Bailout Trillions - Page 2 - Mercedes-Benz Forum

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post #11 of 20 (permalink) Old 12-13-2008, 02:34 PM
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Originally Posted by maine_coon View Post
But, but, but...Mr. Bear told me that we have all the regulations in place and it is a matter of enforcing those regulations?

Surely $2T deserve regulations being implemented against any insider deals, no?
Remember, Mr Paulson's boss is Bushie. So I really don't hold out hope that lessons have actually been learned during the last 48 months.

The regulations ARE in place. Whether or not all the parties at Treasury and Commerce choose to enforce them is a completely different story. Right now I suspect they are in WTF mode and are just sticking band-aids everywhere.

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post #12 of 20 (permalink) Old 12-14-2008, 02:19 PM
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The evolution of the economic crisis is getting very interesting. Increasingly, banks are buying government bonds. To a degree, the banks are getting out of the business of being like highly leveraged hedge funds. Instead they are loading up on government bonds. On the other hand, governments, in particular the US Government, are taking over the role of highly leveraged banks and high risk hedge funds. The source of new liquidity to the economy is leaving the private sector and being taken over by government. This is an interesting turn for the United States, a nation that was established on the principle of limited government.

Private Sector Deleveraging

The brutal forced asset liquidations and hedge fund selling continues at all levels of the private sector, from the individual consumer to the largest investment banks. It is difficult to estimate, but noted adviser Marc Faber mentioned a figure of about $30 Trillion in equity asset losses globally this year alone plus other types of asset losses which may in total be as high as about $100 Trillion1 . The level of these private sector losses in asset values has been staggering.

Against this trend of asset value losses is the massive monetary stimulation of global central banks. Below is a chart (courtesy of Chris Puplava of Financial Sense) of US Federal Reserve Assets2 . See also the two diagrams below (courtesy of Bud Conrad of Casey Research3 ). Although escalating to very high levels, the collective monetary stimulation of central banks is still an order of magnitude less than the extent of asset value losses.

"What are Banks doing with the Bailout Money?" by Cliff Küle. FSO Editorial xx/xx/2008

When devils will the blackest sins put on, they do suggest, at first with heavenly shows - Othello
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post #13 of 20 (permalink) Old 12-14-2008, 05:59 PM Thread Starter
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^^^

Thanks very much for the link. This is the kind of stuff I like to read! Informative, and just a wee bit scary.

My favorite line so far:

Sir John Templeton said that those who are too certain of the answers don’t even understand the questions.
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post #14 of 20 (permalink) Old 12-15-2008, 07:08 PM
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Thanks very much for the link. This is the kind of stuff I like to read! Informative, and just a wee bit scary.

My favorite line so far:

Sir John Templeton said that those who are too certain of the answers don’t even understand the questions.
You're welcome, glad someone else thinks it was a good read; that site has some well articulated writers that make good points and back them up with plausible data.

When devils will the blackest sins put on, they do suggest, at first with heavenly shows - Othello
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post #15 of 20 (permalink) Old 03-03-2009, 03:02 PM Thread Starter
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One senator stands up

When I saw the headline, I thought, wow, wonder if it's a Republicrat or a Demopublican! Turns out it's neither

U.S. senator wants Fed to name loan recipients

Of course, the Fed just says "F U" again, but they're allowed to do that. That and anything else they want
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post #16 of 20 (permalink) Old 03-04-2009, 12:20 AM
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I have a feeling that maybe the FU answer might not play this time. Too many people asking the questions.

Remember last time around while the Democrats might have asked, the Republicans held Commerce, Treasury and the Fed in their pocket so if Bushie and Paulson didn't want information out, it didn't get out. And there were no Republican Senators or House members clamoring for transparency and disclosure [well, at least until after the fact]. Now, you have folks on both sides of the aisle bitching for information, from Blue Dog Democrats to Republicans. So keeping things under the sheets might be a bit harder.

I'm mixed on it. While I like transparency, it will be embarrassing to to see the Bear Air Gulfstream V on some line item deep in a "bailout" project.

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post #17 of 20 (permalink) Old 03-10-2009, 12:03 PM
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Is the Fed supposed to not lose "money" ?
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post #18 of 20 (permalink) Old 03-10-2009, 08:55 PM
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Is the Fed supposed to not lose "money" ?
Ask Lewis Paul Bremer III.
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post #19 of 20 (permalink) Old 03-10-2009, 09:50 PM
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Bernanke's assertion about not losing money is not relevant.

Quote:
Under the Federal Reserve Act of 1913 and amendments over the years, the Federal Reserve System:

* Conducts America’s monetary policy.
* Supervises and regulates banks and protects consumers’ credit rights.
* Maintains the stability of America’s financial system
* Provides financial services to the U.S. Government, the public, financial institutions, and foreign financial institutions.

The Federal Reserve makes loans to commercial banks and is authorized to issue the Federal Reserve notes that make up America’s entire supply of paper money.
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post #20 of 20 (permalink) Old 03-11-2009, 04:10 PM
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"The Feds say F U to Bloomberg's... My, what a command of the dialectic. No wander the UK and US are two people separated by a common language.
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