4 votes

NY Times: Don’t Blink, or You’ll Miss Another Bailout

Many people became rightfully upset about bailouts given to big banks during the mortgage crisis. But it turns out that they are still going on, if more quietly, through the back door.

The existence of one such secret deal, struck in July between the Federal Reserve Bank of New York and Bank of America, came to light just last week in court filings.

That the New York Fed would shower favors on a big financial institution may not surprise. It has long shielded large banks from assertive regulation and increased capital requirements.

Still, last week’s details of the undisclosed settlement between the New York Fed and Bank of America are remarkable. Not only do the filings show the New York Fed helping to thwart another institution’s fraud case against the bank, they also reveal that the New York Fed agreed to give away what may be billions of dollars in potential legal claims.

Continue:
http://www.nytimes.com/2013/02/17/business/dont-blink-or-you...

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Audit the Fed!

Didn't Rand reintroduce Audit the Fed in the Senate? Likely Harry Reid will not allow a vote once again.

Thanks for a bump

Yes Rand did it:
http://www.thenewamerican.com/usnews/congress/item/14464-ran...

Another article on the subject:
http://washingtonexaminer.com/mcconnell-promises-to-push-pau...

One more:
http://politicalnews.me/?id=21199&keys=AUDIT-FEDERAL-TRANSPA...

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15

Won't get passed Reid.

Won't get passed Reid.

agreed

Mafia stays in play.

Uprising perhaps the only way to win freedom.
Army should stand with us.

LL on Twitter: http://twitter.com/LibertyPoet
sometimes LL can suck & sometimes LL rocks!
http://www.dailypaul.com/203008/south-carolina-battle-of-cow...
Love won! Deliverance from Tyranny is on the way! Col. 2:13-15