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| Permalink View Article Stats (3 comments) Promoted to Headline (H2) on 7/22/11: Fed audit tells the awful truth: It's socialism for the rich, and dog-eat-dog for all the rest of us (Bernie Sanders) Quicklink submitted by Joan Brunwasser (Add your own quicklinks easily with the OpEdNews Quick Link Browser bookmark) |
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| The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the US provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression.An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study.'As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world,' said Sanders.'This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else.The Federal Reserve must be reformed to serve the needs of working families, not just CEOs on Wall Street.' |
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Greed is like quicksand
by Marika on Friday, Jul 22, 2011 at 11:33:18 AM
no other comments
by Stephen Zimmett on Friday, Jul 22, 2011 at 2:08:23 PM
Marginalise the Federal Reserve. The conflict of interest
by Samuel Bryan on Friday, Jul 22, 2011 at 4:15:06 PM