Excuse the title. The following video is one of the reasons Jim and other Americans are pretty ticked off by the way billions/trillions of dollars are being handled or mishandled. To understand why I am ticked, pay close attention to the first question about transparency and how the rest of the hearing plays out.
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15. January 2009 at 5:16 pm
I know that our business has to be transparent to the federal government when we file taxes, literally documenting how every penny is spent.
Why is it that the Treasury, the Fed and the banks who are recipients of these funds do not have to disclose where our tax dollars go.
President-elect Obama ran on a platform of transparency. We’ll see if that was BS also.
Bob Chapman, at The International Forecaster, in an article dated December 17th seems to be just as pissed off about this as you:
“There is still no transparency. When you ask a simple question of government the answer is it is a state secret and cannot be divulged. The Fed arrogantly simply refuses to answer.”
source: http://theinternationalforecaster.com/
We are never going to know what happened to the money. Citibank, backed by 500 billion in funds from the Fed, Treasury and FDIC is falling apart. How the heck are we going to know where the money they spent, i mean the money they were ‘lent’, was spent?
Trillions in bailouts will be literally vaporized as this collapse plays out and we won’t have any idea how or why.
Thanks for bringing this video to light.
Mac
15. January 2009 at 11:15 pm
Wow. Other than Barney Frank, who are the other guys in this video?
15. January 2009 at 11:18 pm
I don’t know who the rest of the guys are, but we gave them a Trillion dollars! hahahha!
Mac