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In reply to the discussion: Bernie: lefty who does nothing but pull political stunts and fail legislatively. Except this: [View all]questionseverything
(9,651 posts)53. sanders got a one time audit of the fed accomplished
http://www.sanders.senate.gov/newsroom/press-releases/the-fed-audit
Home> Newsroom> Press Releases> Press Release
The Fed Audit
Thursday, July 21, 2011
The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. "As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."
Among the investigation's key findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. "No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president," Sanders said.
The non-partisan, investigative arm of Congress also determined that the Fed lacks a comprehensive system to deal with conflicts of interest, despite the serious potential for abuse. In fact, according to the report, the Fed provided conflict of interest waivers to employees and private contractors so they could keep investments in the same financial institutions and corporations that were given emergency loans.
Home> Newsroom> Press Releases> Press Release
The Fed Audit
Thursday, July 21, 2011
The first top-to-bottom audit of the Federal Reserve uncovered eye-popping new details about how the U.S. provided a whopping $16 trillion in secret loans to bail out American and foreign banks and businesses during the worst economic crisis since the Great Depression. An amendment by Sen. Bernie Sanders to the Wall Street reform law passed one year ago this week directed the Government Accountability Office to conduct the study. "As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world," said Sanders. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else."
Among the investigation's key findings is that the Fed unilaterally provided trillions of dollars in financial assistance to foreign banks and corporations from South Korea to Scotland, according to the GAO report. "No agency of the United States government should be allowed to bailout a foreign bank or corporation without the direct approval of Congress and the president," Sanders said.
The non-partisan, investigative arm of Congress also determined that the Fed lacks a comprehensive system to deal with conflicts of interest, despite the serious potential for abuse. In fact, according to the report, the Fed provided conflict of interest waivers to employees and private contractors so they could keep investments in the same financial institutions and corporations that were given emergency loans.
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Bernie: lefty who does nothing but pull political stunts and fail legislatively. Except this: [View all]
cali
May 2015
OP
Veterans' Access to Care through Choice, accountability, and Transparency Act of 2014
NCTraveler
May 2015
#2
Since the Senate is owned by Wall Street I think the sensible thing to do would be only offer
stillwaiting
May 2015
#5
And since they do nothing that is not Wall Street approved the needs of the people will just fall
jwirr
May 2015
#33
Once a year for the past four years I have talked to a group of scouts about bullying.
NCTraveler
May 2015
#30
I agree it was mean, but you haven't even come close to seeing the meanest of the mean. nt.
polly7
May 2015
#52
I believe the pm being sent around was also sent to admins in hopes of persuading
polly7
May 2015
#122
It was a good impersonation, but for English as a second language posters patience might be better
Dragonfli
May 2015
#59
I realize patience is in order with the foreign posters that have difficulty writing english
Dragonfli
May 2015
#61
You're kidding me right? Seabeyond and I have had knockdown dragouts galore but I never did
stevenleser
May 2015
#40
No they didn't. That post said people are mean to women and minorities. You can't pretend you
stevenleser
May 2015
#92
Yes I forgot the other part of the smear. not as ironic but just as typical /nt
Dragonfli
May 2015
#93
So you are acknowledging you falsely accused folks of accusing that poster of being racist or not?
stevenleser
May 2015
#94
by acknowledging I only mentioned half the smear tactic? You learn a lot at FOX eh?
Dragonfli
May 2015
#95
So you continue not to acknowledge your mistake and add an ad-hominem to your wriggling? nt
stevenleser
May 2015
#99
In a gilded age characterized by bought-and-paid-for politicians, this is a good thing
Jack Rabbit
May 2015
#23
"lefty who does nothing but pull political stunts" is that what was said or storytelling?
seabeyond
May 2015
#28
are you allowed to call clinton out when she does a political stunt? does that mean you are saying
seabeyond
May 2015
#36
except you seem to understand me clearly, replying to my posts, fabricating an argument
seabeyond
May 2015
#46
Exactly. And the fevered "explanations" of Bernie's actions-which are just one example of principled
Number23
May 2015
#63
Bernie is a fighter. He doesn't quit when a bill that SHOULD have wide support and pass easily,
sabrina 1
May 2015
#37
Sanders has the amazing ability to recognize what's right, and then support it
Babel_17
May 2015
#91
you started a thread, to diss me. my mra pals came in to bathe in the stink with you. not the first
seabeyond
May 2015
#96
says a lot about kicking an OP that is about insulting me, and a thread of MRA pals
seabeyond
May 2015
#103