Monday, December 15, 2008

Feds Refuse to Tell America Who They Bailed Out

Responding to a Freedom of Information Act request by Bloomberg News to disclose the recipients of the Federal Bail Out money that has been secretly handed out to the banks, the Federal Reserve said, F%^* Y(*. In a story reported by Mark Pittman on, Mr. Pittman reveals that on Nov. 7, 2008 Bloomberg News filed suit under the U.S. Freedom of Information Act requesting the terms of 11 Federal lending programs created in the recent months to feed Financial Institutions money to keep them afloat after their financial games have collapsed the Nation's Economy.

Mr. Pittman notes that the Dec8, 2008 response to the suit by the Fed was that they feel they do not have to reveal internal memos dealing with the programs. In other words the Federal Reserve has created a secret slush fund of over 2 Trillion dollars that they have been handing out to Banks, most of which have foreign minority ownership without any pre-conditions or safeguards. This should be most egregious to all Americans who have worked their lives away with the thought that their assets would have value as they aged and retired. Thanks to the unregulated Ponzi Schemes that The Republican Bush Administration Policies have perpetrated throughout the last eight years the Financial System of America has gobbled up nearly all of the value of the assets of the American People. Who does the Bush Administration run to offer Aid to, not the American who are suffering every day because of the financial ineptitude of the Republican Bush Administration Policies, but rather the Financial Corporations that took advantage of the deregulation policies perpetrated upon America by the Bush Administration. Not only does the Bush Administration bail out those that made millions on these schemes but now they refuse to even say who it was that received the money.

After the last eight years of lies, deception and corruption can we expect anything less from the Bush Administration, now the question is, will the Obama Administration do the right thing and allow Congress to investigate exactly what has gone on here during the last eight years and especially since August of 2008 when this Administration has crippled the Unite States Economy and Bailed out Bank with Arab ownership interests while letting the American People sink into the depths of Poverty and Despair.
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