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A (Worrisome) View Inside the Federal Reserve

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  • Fri, Oct 03, 2014 - 12:17am

    #21

    pinecarr

    Status Gold Member (Offline)

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    Posts: 1085

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    Will tapes affect fate of “Audit the Fed” bill in the Senate?

From article at Silverdoctors.com, "Will Senators Rand Paul and Elizabeth Warren Unite to Finally “Audit the Fed”?",  @ http://www.silverdoctors.com/will-senators-rand-paul-and-elizabeth-warren-unite-to-finally-audit-the-fed/

The most incredible thing you realize from Carmen Segarra’s account of her brief stint at the Fed, is that when push came to shove and non-compliance issues were revealed, her bosses had no backbone whatsoever and in fact scrambled to protect the banks and coverup their malfeasance.
Incredibly, this was still business as usual just a couple of years after the banks destroyed the global economy, ripped apart the rule of law, and demanded and received trillions in taxpayer backstops and bailouts.
So were Carmen’s efforts all for naught? Thanks to her secretly recording over 46 hours worth of conversations, it’s possible that her whistleblowing may ultimately bear some real fruit.
In the near-term, the most interesting angle is whether or not it will affect the fate of the “Audit the Fed” bill in the U.S. Senate.
Elizabeth Warren has called for congressional hearings into allegations that the Federal Reserve Bank of New York has been too deferential to the firms it regulates in light of the Segarra revelations.

  • Fri, Oct 03, 2014 - 01:43am

    #22

    Greg Snedeker

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    All I heard was fear

In the recordings, all I could hear was fear in everyone's voice. Whether it was Segarra, Silva, Kim, the Goldman Sachs execs, everyone…just fear. They didn't give me the impression that they were corrupt, but actually something almost worse than that…they all know the system is corrupt, flawed, and riddled with time bombs and they're all afraid of what will happen if they're the one to accidently or intentionally blow on the house of cards. The entire segment was pretty sad.  I suppose if I worked in a place like the Fed or G-S I would be terrified too. Let them have their money, it must be a miserable existence!

  • Fri, Oct 03, 2014 - 03:15am

    #23

    LesPhelps

    Status Silver Member (Online)

    Joined: Apr 30 2009

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    gillbilly wrote:In the

[quote=gillbilly]

In the recordings, all I could hear was fear in everyone's voice. Whether it was Segarra, Silva, Kim, the Goldman Sachs execs, everyone…just fear. They didn't give me the impression that they were corrupt, but actually something almost worse than that…they all know the system is corrupt, flawed, and riddled with time bombs and they're all afraid of what will happen if they're the one to accidently or intentionally blow on the house of cards. The entire segment was pretty sad.  I suppose if I worked in a place like the Fed or G-S I would be terrified too. Let them have their money, it must be a miserable existence!

[/quote]

I like it!  Plus, if the Fed points out to John Q Public what GS is doing, GS could retaliate by making it clear what the Fed is doing.  Who is doing more damage, GS, or the Fed?  Hard call.  Actually, neither of them could be pulling off this shell game unless they were working together.

  • Sat, Oct 04, 2014 - 12:09am

    #24
    treebeard

    treebeard

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    Fear and sadness

Good to hear from you again Gillbilly, great point, everything has its price.  I do not envy the kleptocrats. I have lived in areas that were poor and others that were very wealthy, but I have never seen so much misery as when I lived in the burb's within commuting distance of wall street.  Divorce, drug and alcohol problems, severe emotional issues, isolation, infighting, estranged children and broken families.  You could not pay me to live in a place like that again.  Everybody is pretending to be politically correct, but in general are clueless or could really care less.  It was one of the least authentic places one could possibly live. Oh, but those manicured lawns swarming with immigrants do look beautiful! 

As others, I am not surprised by the tapes,  I'm sure it's just the tip of the iceberg.  These are just low level technocrats trying to keep the mess going.  I think the metaphor should be up the rabbit hole, the farther up the food chain you go the stranger it gets.  Lets applaud those in the system who find a back bone, but not give it more of our personal energy than we have too.

There are a whole world of heroes who are working outside the banking system, outside consumer society to create a whole different kind of world.  Participation in the "main stream" continues to drop at all levels, who wants to sit around a table at rigged game, heck who wants to play the inane ridiculous "game" to begin with at all.  Here's to a different reality all together.

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