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No more hedging by banks
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<blockquote data-quote="wkmac" data-source="post: 678732" data-attributes="member: 2189"><p>unionman,</p><p> </p><p>Since the Federal Reserve is the ultimate authority of/over the banks and since Congress created the Federal Reserve, should the Congress now audit completely the Federal Reserve in it's capacity of oversight and representing the people's interest if you feel regulation and proper correction are the ultimate goal here? Would it not be wise to audit, learn all the details and then once this knowledge is in hand, Congress would know specifically where the causes lay and where regulation enforcement are needed? Wouldn't it make sense that all democrats, especially the leadership and the President would be behind such regulatory oversight attempts in light of our current economic delimma and how we got here?</p><p> </p><p>If your answer is yes, you might contact the office of Democrat Congressman Alan Grayson of Florida and learn more about this approach and what he's proposing with the backing of over 300 other Congressmen and women of both political parties.</p><p> </p><p>[video=youtube;E9CcdiNs5F8]http://www.youtube.com/watch?v=E9CcdiNs5F8[/video]</p><p> </p><p>Mel Watt portrays Alan Grayson as chasing some phantom loans by the Fed? Now who would give Grayson the idea that loans were in fact made?</p><p> </p><p>[video=youtube;n0NYBTkE1yQ]http://www.youtube.com/watch?v=n0NYBTkE1yQ[/video]</p><p> </p><p>I believe Bernacke stated these were in facts loans to foreign central banks so per Bernacke, these loans were not phantoms at all. And as to Mr. Mel Watt, would it matter that his district is home base to the corp. offices of Bank of America? I swear as Mel went into his tantrum I saw strings attached to his waving arms!</p></blockquote><p></p>
[QUOTE="wkmac, post: 678732, member: 2189"] unionman, Since the Federal Reserve is the ultimate authority of/over the banks and since Congress created the Federal Reserve, should the Congress now audit completely the Federal Reserve in it's capacity of oversight and representing the people's interest if you feel regulation and proper correction are the ultimate goal here? Would it not be wise to audit, learn all the details and then once this knowledge is in hand, Congress would know specifically where the causes lay and where regulation enforcement are needed? Wouldn't it make sense that all democrats, especially the leadership and the President would be behind such regulatory oversight attempts in light of our current economic delimma and how we got here? If your answer is yes, you might contact the office of Democrat Congressman Alan Grayson of Florida and learn more about this approach and what he's proposing with the backing of over 300 other Congressmen and women of both political parties. [video=youtube;E9CcdiNs5F8]http://www.youtube.com/watch?v=E9CcdiNs5F8[/video] Mel Watt portrays Alan Grayson as chasing some phantom loans by the Fed? Now who would give Grayson the idea that loans were in fact made? [video=youtube;n0NYBTkE1yQ]http://www.youtube.com/watch?v=n0NYBTkE1yQ[/video] I believe Bernacke stated these were in facts loans to foreign central banks so per Bernacke, these loans were not phantoms at all. And as to Mr. Mel Watt, would it matter that his district is home base to the corp. offices of Bank of America? I swear as Mel went into his tantrum I saw strings attached to his waving arms! [/QUOTE]
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