Yesterday, the House Financial Services Committee released its hearing schedule for October. There is not a peep about holding a hearing on the unprecedented hundreds of billions of dollars that the Federal Reserve Bank of New York is pumping into unnamed banks on Wall Street at a time when there is no public acknowledgement of any kind of financial crisis taking place.
Congressional committees should have been instantly on top of the Fed’s actions when they first started on September 17 because the Fed had gone completely rogue from 2007 to 2010 in funneling an unfathomable $29 trillionin revolving loans to Wall Street and global banks without authority or even awareness from Congress. The Fed also fought a multi-year court battle with the media in an effort to keep its giant money funnel a secret....Wall Street On Parade
There’s Nothing Normal About the Fed Pumping Hundreds of Billions Weekly to Unnamed Banks on Wall Street: “Somebody’s Got a Problem”
Pam Martens and Russ Martens
2 comments:
"The Fed also fought a multi-year court battle with the media in an effort to keep its giant money funnel a secret....".
I doubt the Fed could ever have "kept its giant money funnel a secret", though there was a court case over EXACTLY WHICH BANKS were the lucky recipients of the Fed's "generosity". See:
https://archives.cjr.org/the_audit/bloomberg_wins_its_lawsuit_aga.php
“Federal Reserve Bank of New York is pumping ”
We’ll see if they are really “pumping!” this week or if depositories are just acquiring balances of reserve assets as regulatory required...
“Somebody’s Got a Problem””
Oh yes it’s all a big “neoliberal conspiracy!” All the unqualified lefties here are gonna be all over this one lol!!!
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