Thursday, November 13, 2008

Fed Defies Transparancy Aim in Refusal to Disclose
Bloomberg
"The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.
". . .
as the Fed lends far more than that in separate rescue programs that didn't require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return."

[refusing to disclose and using public monies without the approval of Congress is criminal enough but wait, I thought the bailout was only for $700 billion?]

Dems Target Private Retirement Accounts
Carolina Journal
"Democrats in the U.S. House have been conducting hearings on proposals to confiscate workers’ personal retirement accounts — including 401(k)s and IRAs — and convert them to accounts managed by the Social Security Administration."

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