Sen . Sanders asks the FED.. who did you loan the money to?

[Ichingcarpenter]

Watch this exchange and tell me about transparency

Uploaded on Mar 3, 2009

Great Exchange! Senator Bernie Sanders can't contain himself during today's (03/03/09) Senate Budget Commitee hearing in Washington.

Bad Boy Bernie demands to know who got the 2.2 trillion of dollars in loans from the Fed. Bernanke won't tell him.

He's also angry that banks that get tax payer funds for nothing, are charging credit card customers 25% interest.

Also discusses A.I.G. and who got those credit Defautl swaps. He also demands to know why Bernanke didn't raise the alarm when the Bush Administration was claiming the economy was sound when it obviously wasn't.

[merrily]

1. Little Timmeh Geithner and Little Ben Bernanke

Bernanke's reappointment shows bankers' stranglehold over the Senate.

Both Republican and Democratic Senators voted to reappoint Bernanke who was originally appointed by Bush and renominated by Obama. One would think that opposing Bernanke would be an opportunity to win votes in the upcoming elections but the Senators prove that they are more concerned about support from Wall Street than from voters. The Senate overwhelmingly supported the wall street bailout despite the fact the polls show Americans strongly opposed the idea and viewed it as a reverse redistribution of wealth. Since Wall Street makes up much of the contributions to political campaigns, most politicians would rather stay on their good side.


Under Bernanke the powers of the Federal Reserve have greatly expanded. Bernanke orchestrated the bailouts of private financial institutions and has asked the president for even more power to regulate the economy. Treasury Secretary Timothy Geithner was chair of the New York branch of the Federal Reserve and oversaw the bailout of AIG. The New York Branch of the Fed has even secrecy than the Washington Branch and played a significant role in the bailouts. At a hearing of the House Committee on Oversight and Government Reform, Congresswoman Marcy Kaptur told Geithner,"a lot of people think that the president of the New York Fed works for the U.S. government. But in fact you work for the private banks that elected you.”

http://www.examiner.com/article/bernanke-s-reappointment-shows-bankers-stranglehold-over-senate

The above-linked article shows yeas and nays on BB's reappointment. Sanders voted no, as did some brave Democrats.


Sanders also voted nay on Geithner's confirmation. Not many Democrats joined him in that.

http://www.senate.gov/legislative/LIS/roll_call_lists/roll_call_vote_cfm.cfm?congress=111&session=1&vote=00015

[Enthusiast]

2. This man, Bernie, he's on our side.

Wouldn't it be wonderful if all our Democratic leadership felt as Bernie does? Instead they characterize him as a radical socialist.

[BlueCaliDem]

3. Senator Sanders is doing what Senators are supposed to do, but have been failing to do!

He's questioning where taxpayer money is going and holding the Fed. Bank to account. This is the job of Congress. And instead of trying to repeal the PPACA 67 times and obstructing the president's bills that would help those very same taxpayers' quality of life, Congress should be our defenders to enhance it which usually means they have to go against Big Business just as they defend Big Business against unscrupulous private citizens.

But for decades, the scales have been tipped to benefit only ONE side. Congress has been defending Big Business exclusiviely and have forgotten to do the same for us - especially when it comes to taxpayer money that's been given out at ridiculously low or zero interest and then is turned around and sold back to us at ridiculously high interest rates.

So as Joe and Jane Taxpayer is blindsided with the "pittance" of $700 billion dollars, the question remains unanswered...where is the estimated $3.3 trillion dollars in low-to-no interest backdoor bail out money to Big Corporations?

[ProudProg2u]

4. Run Bernie Run...!

Warren/Sanders...Sanders/Warren ...Win/Win. We can dream a little what America was supposed to be.

[KansDem]

5. I'm with you!

[MissDeeds]

6. I'm with you too! n/t