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Thursday, June 14 2012 - 10:26 PM
Federal Reserve Board Members
Federal Reserve Board Members Gave Their Own Banks $4 Trillion in Bailouts
Thursday, June 14, 2012
Jeffrey Immelt and Barack Obama (AP Photo) Following the 2008 financial crisis, the Federal Reserve provided more than $4 trillion in near zero-interest loans and other help to banks and businesses whose executives also served as directors for the national bank.
At least 18 current and former Fed regional bank directors had a direct stake in the trillion-dollar bailout given to teetering institutions, according to a report produced by the Government Accountability Office, but released by Senator Bernie Sanders (I-Vermont).
“This report reveals the inherent conflicts of interest that exist at the Federal Reserve,” Sanders said in a prepared statement. “At a time when small businesses could not get affordable loans to create jobs, the Fed was providing trillions in secret loans to some of the largest banks and corporations in America that were well represented on the boards of the Federal Reserve Banks.”
Sanders wants to end the potential conflicts of interest that come with having bank executives serving on the Fed’s boards. The senator introduced legislation in May that would prohibit banking industry and business executives from serving as directors of the Fed’s 12 regional banks.
To bolster his case, Sanders cited the example of Jamie Dimon, chief executive officer of JPMorgan Chase. A director of the Federal Reserve Bank of New York since 2007, Dimon was part of the Fed’s leadership when it approved $391 billion in emergency funds to JPMorgan Chase to help it through the Wall Street chaos.
In another example, Jeffrey Immelt, the CEO of General Electric, was a member of the New York Federal Reserve when it created the Commercial Paper Funding Facility, which then lent $16 billion to…General Electric.
-Noel Brinkerhoff
Sovereignty Soldier says...
Here’s the scam. The banks got all the countries into debt. Each one can thank its central bank. The bankers in the nations as well as the UN fraternise. They meet together and have discussions.
Once the central banks caused monsterous debt for the nations, the nations go to the IMF for loans that the bankers know they can never repay. So they take the nations resources as collateral until the nation defaults. After default, the resources are sold off. This is the plan. They own the governments via the central bank. Think Americas gold is still in Fort Knox? Wrong! They took it. The nations wealth has been stolen by white collar crooks who use science to confuse and confound the people via television PROGRAMMING. The human mind is like a computer. It works off electrical impulse. They can program a mind just like a computer. The rate of flicker on your TV is carefully timed to work on the subconscious mind. Within minutes the braon goes from a Beta state of consciousness to alpha. Your mind then loses its ability to think critically. You accept things as truths. Very scientific which is why it is called a scientific dictatorship.
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AV Town Crier says...
SS
Very well put. The whole thing of “programming” you mention was (and still is) being developed by the Tavistock Institute in England. They’ve been studying ways to control the human mind for decades.
One of the ploys of the IMF is when a country takes out a loan, the collateral is steep. ALL public utilities become private. Government land (parks, etc.) becomes private. The people get screwed when the utilities raise rates. In Buenos Aires The people finally got fed up and went on strike and rioted. The utility finally lowered the rates, but it was still much higher than when it was controlled by the govt.
It’s happening here. CA public utilities went private. They’re still some form of regulation on price, but that’s very weak.
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highground says...
The Federal Reserve Bank, is a private bank and can put their fiat currency where ever they want. The IMF is funded by the Federal Reserve Bank….
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AV Town Crier says...
HG
Bingo! They are partners with ALL the central banks of the world (aka international banking cabal). They control ALL fiat currency via inflation/deflation (as needed.)
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Sovereignty Soldier says...
TC and Highground, the ones awake. Preaching to the choir here. A story like this should piss all Americans off but if intheav is any indicator, the people just don’t understand what the central bank is. “My people are destroyed for lack of knowledge”. Instead they are watching stupid TV shows like “American Idol”. Dumb asses, those who worship idols go to hell just like in Bible days.
BTW, cell phone so forgive any misspelled words please.
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highground says...
“My people are destroyed for lack of knowledge.”
Can not argue with that…. I truly believe if we could just get everyone to stop regestering in a political party, we might have a chance. As long as we continue to support the two party system it will not matter who of the two candidates is elected.
It appears the party choice for republican vice president will be Rubio. Like Obama, he is Constitutionaly not eligible for President. It was also his plan for Illegals that Obama just initiated. Which of course, creates many thousands of jobs for everyone but Ameerican citizens. Maybe the mexican coyotes will go on strike for being over-worked.
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avbornbred says...
Join the Tea Party. They concerned with fiscal responsibility, smaller government, and lower taxes. How can anyone complain about that agenda?
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AV Town Crier says...
I’m not sure there is a conflict of interest. After all, the federal reserve owns the money in the first place. They set in motion the chain of events that caused the financial collapse. There’s more to this whole financial crisis than meets the eye.
Just keep an eye on the IMF. They are the most evil organization ever created. Let’s see what their roll in all this is as this whole financial deal plays out.
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