Audit: Fed gave $16 trillion in emergency loans

So in your opinion, which other entity is "fully" audited like you claim the Fed is not?

 

Where can I find all the list of people that have loans and deposits with Citibank and the amounts?

 

Along with the rest of the economy.

 

the fed bought and paid for the securities, why wouldn't they be entitled to get the promised interest payments on their investment, just like civilians?


you still haven't shown where taxpayers pay for the fed's securities and the reason is that taxpayers don't pay for them

 

This is a silly question but I digress. I guess any publicly traded corporation? I would even say myself since I have to declare every business transaction I make as it goes into taxable income after expenses. The Fed does not have to report every transaction it makes as it is exempt from real purview. Since it has the power to create money it literally could give trillions away to foreign banks and not report it if it choose too.

 

Guarantee the deposits, break the banks into much smaller units, fire and prosecute the head execs at the banks, don't guarantee AIG's insurance to Goldman Sachs, let the bad CDO liquidate. There you have it and we are not in the same boat as before like we are now.

 

Because they aren't buying with their money they are buying it with newly created money or money they got from the treasury. They buy securities on the secondary market through primary dealers with check deposited to themselves. It is not the same as you or I. Why do you think they can refund all the securities and interest after they pay themselves and member banks?

 

Name the publicly traded corporation. Then you can show how it is a "full" audited compared to the Fed. You can show whether it is audited by two separate, independent, outside Big 4 accounting firms (Deloitte, KPMG) , two separate Govt agencies (OIG, GAO), internal auditors and committees like the Fed is. Let's see if it has to regularly report to congress. Then you can show us the "full" audit where the corporations board's policies meetings are audited and reported, and then you can show where the list of all customers or entities with which it transacted business are reported, to prove you claim that somehow the Fed isn't getting a "full" audit like other entities.

Personally, I'm not aware of *any* entity that goes through anything like the regular multiple audits and review of the Fed. I think your position is bull(*)(*)(*)(*).

But here you have a chance to prove it.

So which corporation did you have in mind to prove you position?

 

again, they buy the currency from the treasury at no cost to taxpayers, the treasury profits greatly from it

the 6% amounts to relatively small sums, the purchase price of the securities goes to the dealer/holder of it and please don't tell me you're under the naive impression that public finance is like personal finance

 

Look here to help you:

http://finance.fortune.cnn.com/2011/02/18/how-the-fed-prints-money-without-any-ink/

 

What about all the businesses that go under because the assets were involved with the banks or they can't get loans?

What happens when they go down and all the businesses related to them go down?

 

That's a lie. Those assets, loans, etc., would be liquidated and picked up by other banks.

 

So lets take HEB. Does heb get any exclusions in transactions it doesn't have to report? Can it not report profits it makes in some stores? Can it lie and say somethings were more or less than they really were? Aren't they held accountable by law? How is the federal legally held accountable if we cannot by law check into its open market transactions or its ransactions for or with a foreign central bank, government
of a foreign country, or nonprivate international financing
organization?

 

at an extremely discounted price, which means $billions in asset values disappear down the drain

 

Like I said guarantee the deposits, break down the banks to regional or state ones, and get rid of two big too fail while liquidating the bad assets.

 

i see nothing in that link that contradicts what i said

i have an advanced degree in econ/fin and several decades of experience in running my businesses

please try to make a valid point with your own ideas and words

 

Wait now evidence isn't sufficient? Didn't you just say that I wasn't showing "Evidence" and now that I put it in front of you you want my opinion?

C'mon you are just being ridiculous like a child.

No offense but by you own post so far I don't believe you. Right now I think you are probably an adolescent, teenager, or a young adult as the way you post is childish.

 

That's a lie. No one is going to "pick up" a trillion in subprime mortgage.

 

What about all the businesses that go under because the assets were involved with the banks or they can't get loans?

What happens when they go down and all the businesses related to them go down?

You think you can just close down the biggest banks in the US and it will have no ramification on businesses?

 

OK.

Where is the "full" audit of HEB reporting the policy discussions and decisions of the Board of directors, and the list of all the entities that use its services?

Which two Big 4 accounting firms audits its books and records?

Which Government agencies audit it?

What internal audit systems does it have?

How often does it report to Congress?

 

show me the evidence that taxpayers pay for fed operation, you have not done so

 

Jeez your reading comprehension is lacking today.

If the government guarantees the deposit wouldn't the businesses have their assets still, and if you broke the banks down you would still have banks that could lend. Thus you would still have the same banking system you just wouldn't have too big too fail. Plus I would have gotten the banks out of the investment business as well.

 

If the government guarantees the deposit wouldn't the businesses have their assets still, and if you broke the banks down you would still have banks that could lend. Thus you would still have the same banking system you just wouldn't have too big too fail. Plus I would have gotten the banks out of the investment business as well.

 

I didn't start this thread with an OP containing utterly ridiculous and now disproven claims.

 

If the government guarantees the deposit wouldn't the businesses have their assets still, and if you broke the banks down you would still have banks that could lend. Thus you would still have the same banking system you just wouldn't have too big too fail. Plus I would have gotten the banks out of the investment business as well.