Congressman Alan Grayson rips the fed

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Subprime JD's picture
Subprime JD
Status: Platinum Member (Offline)
Joined: Feb 17 2009
Posts: 562
Congressman Alan Grayson rips the fed

Among the questions that Grayson is seeking the SIGTARP's assistance on are:

1. How was the deal negotiated by Citigroup, the Federal Reserve, and the Treasury? How does this loss-sharing arrangement benefit taxpayers?
2. What are current mark-to-market losses to the Federal Reserve in this loss-sharing arrangement?
3. What is the current cash flow from these assets? Are these asset performing?
4. Who should be held accountable for the reckless acquisition of a third of a trillion dollras in assets that ended up requiring a government guarantee? [emphasis mine]
5. Which vendors are pricing these assets, and are there conflicts of interest present in these vending arrangements?
6. Is the Federal Reserve guaranteeing assets generated from lender-induced mortgage fraud and predatory lending practices?
 

 

This Grayson guy is emerging as a potential patriot within the ranks of scummy politicians. Ron Paul, Grayson, and a few others. The rest, yikes!

 

Tomorrow Bernanke gets grilled!!

DrKrbyLuv's picture
DrKrbyLuv
Status: Diamond Member (Offline)
Joined: Aug 10 2008
Posts: 1995
Re: Congressman Alan Grayson rips the fed

bearmarkettrader - thanks for the update.  I agree, Grayson is doing a really good job.  

There is a lot of speculation that Ron Paul is going to come on strong to end the fed.  He will be releasing his new book "End the Fed" sometime late summer or early fall.

Amazon info 

Words is that the book will be a fast and easy read, similar to his earlier book, "The Revolution: A Manifesto."  I'm anxious to read it and put my advanced order in some months ago.  The people really need a general overview of the fed.  

Maybe you saw this video of Grayson back in January grilling the fed.  He's a tough and thorough investigator.

Larry

http://www.youtube.com/watch?v=Mj0JAfq4esk 

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