AP: More transparency needed from Fed
I saw this on Google News' homepage. I didn't realize the AP would bring this up.
http://www.google.com/hostednews/ap/article/ALeqM5iZnfNIDibB...
NEW YORK (AP) — The Federal Reserve, which prides itself on never having lost a dime on a loan it made, is sitting on almost $1 billion of debt in a hotel chain that filed for bankruptcy court protection.
The disclosure of that surprising news came not from the central bank, but from this week's bankruptcy filing by Extended Stay Hotels. It listed an entity controlled by the Fed as the company's third-largest creditor, an investment it reluctantly inherited after the collapse of Bear Stearns last year.
For the Federal Reserve, which has pledged to be more forthcoming about how hundreds of billions of dollars of its funds are being used to bail out the financial system, this lack of transparency is troubling.
It's also a sobering reminder to members of Congress, some of whom are already questioning the Obama administration's proposal to boost the power of the U.S. central bank as part of a broad overhaul of the financial regulatory system.
Read More...
http://www.google.com/hostednews/ap/article/ALeqM5iZnfNIDibB...
This hits home
ESH corporate office is here.
***
Freedom is not: doing everything you want to.
Freedom is: not having to do what you don't want to do.
~ Joyce Meyer
Freedom is not: doing everything you want to.
Freedom is: not having to do what you don't want to do.
~ Joyce Meyer
You should help spread the
You should help spread the news where you are. Audit the Fed!
The new is the Daily Paul.
Follow me on Twitter http://twitter.com/Ron2012Paul
Nice find
Never lost a dime eh? Pass HR 1207 and we shall see.
Real eyes realize real lies
2012, we want our country back
2012 is the year for Ron Paul!
MSM Report: http://www.msmreport.com/
I thought so too. I know it
I thought so too. I know it doesn't mention RP or HR 1207, but we really need the message passed along that the Fed needs to be audited.
The new is the Daily Paul.
Follow me on Twitter http://twitter.com/Ron2012Paul
:)
Only reason they never lost a dime is because they had it minted... so they always knew it would come back.
In the form of repaid debt.
~Live life to its fullest, with an open heart, open arms and most important... an open mind~