Fed Refuses to Release Bank Data, Insists on Secrecy

By: Mark Pittman and Craig Torres

March 5 (Bloomberg) — The Federal Reserve Board of Governors receives daily reports on bailout loans to financial institutions and won’t make the information public, the central bank said in a reply to a Bloomberg News lawsuit.

The Fed refused yesterday to disclose the names of the borrowers and the loans, alleging that it would cast “a stigma” on recipients of more than $1.9 trillion of emergency credit from U.S. taxpayers and the assets the central bank is accepting as collateral.

/snip/

Source

Folks, there is no good reason for secrecy. To blame it on some kind of “stigma” is foolishness, and a blatant attempt to cover up what they are doing with YOUR money and YOUR great grandchildrens money.

I mean, couldn’t they have come up with a better excuse than “a stigma”? Or do they really believe people are that stupid?

Your country is being looted. But that’s OK, this is March Madness season! People have more important things on their minds.

Advertisements
%d bloggers like this: