Kucinich: the Federal Reserve is paying banks NOT to make loans to struggling Americans!

[Pharaoh]

Run time: 05:48 https://www.youtube.com/watch?v=Gkf8VG3HL_8   Posted on YouTube: July 23, 2009 By YouTube Member: Views on YouTube: 0   Posted on DU: July 30, 2009 By DU Member: Pharaoh Views on DU: 645

 
Tuesday, 21 July 2009 U.S. Congressman Dennis Kucinich (D-Ohio, 10th District) questions Neil M. Barofsky, the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), testifying


It is amazing that CNN doesn't cover this - they must be part of it all. Everyone knows the Federal Reserve needs to die! They have bankrupted the greatest nation on earth - along with corporations selling all their labor to China. We have lost the American dream!


Spaceman99

[trthnd4jstc]

1. I wish that Rep. Kucinech would not have interupted Mr. Barofsky when he mentioned that the FDIC and

Other federal institutions asked that this capital not be loaned out. The Feds want this TARP money to stay at the Federal Reserve Banks, thus preventing the banks from loaning it out. Great Post! Thanks. The Federal Reserve Board needs to end. The Banks should not have the rights to determine the value of money. Bring Back the Greenbacks. Make $40 equal an Hour of Labor. The Government can start printing money to pay the salaries. We can liberate ourselves from the Federal Reserve Notes over time. We are in a deep hole. But, for our survival as a nation we must work our way out of this depression.

[followthemoney]

3. This money will not be loaned out until the banks can see a profit ...

and principal coming back to them. Would you put money into a failed bank if the FDIC didn't guarantee you could get it back?

The banks don't see a profit coming back and even if they got charity at the public dole they are not charitable organizations when it comes to lending.

[followthemoney]

2. It's a capital strike, I tell ya. The Capitalist pigs are locking....

the workers out of their jobs. Every pay cut is a demand cut. No demand, no jobs.

The lockout will end when all the unions are busted and the workers will act great-full for minimum wage jobs.