The Federal Reserve Doesn’t Know Where The Money Went

Proof • May 18, 2009

Or, at least, they aren’t talking. Back in February Bloomberg reported that taxpayer’s commitment to “solving” the financial crisis through the various bank bailouts had risen to $9.7 trillion, or about enough to pay off 90% of the nation’s home mortgages (which kind of makes you wonder why the idiots didn’t just do that as, though it would be bad policy, it would at least be simpler). The bigger problem, perhaps, than the mind-boggling amount of burden that spending represents for the taxpayers is the fact that nobody seems to know where it’s going. Senator Byron Dorgan, getting something right for a change, had this to say:

“We’ve seen money go out the back door of this government unlike any time in the history of our country,” Senator Byron Dorgan, a North Dakota Democrat, said on the Senate floor Feb. 3. “Nobody knows what went out of the Federal Reserve Board, to whom and for what purpose. How much from the FDIC? How much from TARP? When? Why?”

Now eight months after the “financial crisis” hit and months into the Obama adminstration, per the questioning of Federal Reserve Inspector General Elizabeth Coleman by Rep. Alan Grayson, it’s clear they still don’t know where the money is going.

The level of incompetence on display is nothing short of disheartening. It would be funny if we weren’t talking about trillions of our tax dollars.
And didn’t Obama promise “change”? Meet the new boss. Same as the old boss. The king is dead. Long live the king.

Tags: Asshats, Domestic Issues, Politics

http://www.mikestaxlientips.com/ iane009

how wierd can that be… it money anyway,
ViktorB12

Oh god .. what the fuck are they doing ..
brain trust

What else can we expect from anything related to the government. Can only get better with the government in charge of health care. Can we go for double jeopardy?

Liberals Golden Rule – We must all suffer equally!
jimmypop

like iraq or any other time you spend stupid amounts of cash, you lose some sometimes.
http://ghosthuntingsecrets.com/blog michellem

Somehow, it seems like the tax payer always gets stuck with the bill. The Fed is destroying the value of the US dollar with its inflationary policies.
http://sayanythingblog.com/entry/america_is_back/#c397018 Dino2

Here’s the guy who caused it all, begging for the first bailout, warning the American people that he fucked up bad and that if they didn’t rescue him they’d all be poor:

Please, please give my crook friends in the financial sector the money or they’ll make you all poor and destitute. I only have a few more months to squeeze the last few pennies from the Treasury so act now!
brenarlo

The Federal Reserve controls Obama in that the Fed has to buy government bonds (debt) to fund Obama’s projects. Without the Fed, federal spending would be a fraction of what it is today.
sayanything-2407

Now eight months after the “financial crisis” hit and months into the Obama adminstration, per the questioning of Federal Reserve Inspector General Elizabeth Coleman by Rep. Alan Grayson, it’s clear they still don’t know where the money is going.

We know where its going….at least portions of it….to dead people.
robert108

Geithner caused it all by manipulating monetary policy to support the “affordable housing” agenda of the Dem social engineers, despite very clear indications that his policies were taking us down the drain.
NoJelly

And it’s no surprise to me that the states that supposedly are receiving billions in supposed stimula funds are still racing to cut billions from their budgets. MN in particular looks to be no better off with the money than without it. I have no doubt where the money is going.

I have seen documentaries on the Great Depression where folks are saying “We don’t have any money, but neither does anyone else”…That was simply wrong. There were a lot of politicians who were doing quite well, and the peasantry were so taken in by FDR’s rhetoric that they believed the political elite deserved it…I don’t think Bobo will get away with it this time, the populace is much better informed (and better misinformed) today. There aren’t as many hapless lemmings as there were then, though the lemmings of today appear much more completely indoctrinated. I too blame the education system for that…
brenarlo

The Fed is far more powerful than Obama could ever dream to be.

The Fed is at the root of all of our economic problems. The Fed must be abolished.
studakota

This mess we’re in is as a direct result of those teachers of the last three or four decades. I knew we were in trouble when my son brought home civics books wherein Marilyn Monroe garnered a page and a half while The Wright brothers were given one and a half paragraphs. But that’s not the reason we got a partial black man. The guilt that has been drubbed into our children was the reason. Think of it: Harriet Tubman, Booker T. Washington, Malcom X., M.L.King, Muhammed Ali, Jackie Robinson, etc. etc. Never was it read that these folks were better off here than in any place in Africa. BTW We havent heard much of Zimbabwe lately, wonder why. So the first plausible Black was It. Just our bad luck he was a vote thief, knew how to raise money like a Chicago Pol. And could read from a teleprompter.
http://sayanythingblog.com robport

Cue the dark, scary music.

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The Federal Reserve Doesn’t Know Where The Money Went

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