Fed. Reserve Bank Boards Lack Transpa...

Fed. Reserve Bank Boards Lack Transparency

There are 62 comments on the ClickOnDetroit story from Oct 20, 2011, titled Fed. Reserve Bank Boards Lack Transparency. In it, ClickOnDetroit reports that:

The Federal Reserve banks need to better prevent conflicts of interest, according to a new government report that highlights transparency issues with financial executives serving on the banks' boards.

Join the discussion below, or Read more at ClickOnDetroit.

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Curtis Lowe

United States

#1 Oct 20, 2011
Ya think?
Wall Street Government

Sebastian, FL

#2 Oct 20, 2011
An example, it notes, occurred when then-chairman of the New York Fed's board of directors Stephen Friedman owned shares in the investment firm Goldman Sachs, but in September 2008 provided it and other banks billions of dollars in federal funding in response to the unfolding financial crisis.

Friedman was granted a waiver by the Federal Reserve Board in January 2009, the report said. But the board was unaware that he had purchased additional shares in Goldman Sachs through an automatic stock purchase program.

The former chairman, who resigned in May 2009, could not be immediately reached for comment.

Read more: http://www.koco.com/money/29536269/detail.htm...

Read more: http://www.koco.com/money/29536269/detail.htm...
bailout my duck

United States

#3 Oct 20, 2011
dont hold ur breathe

Since: Jan 07

Location hidden

#4 Oct 20, 2011
Must be a lie or the writer is racist (apparently that is the key word for anyone who disagrees with this administration). Because one of Obama's huge promises was MORE TRANSPARENCY within the government.
DENG

Nanjing, China

#5 Oct 20, 2011
INTELLIGENT PEOPLE KNOW THE FEDERAL RESERVE BANKS ARE PRIVATE BANKS WITH PRIVATE INTERESTS MAKING PUBLIC DECISIONS FOR THE PUBLIC IN THE UNITED STATES

“Angry Antlers ”

Since: Sep 08

Miami

#6 Oct 20, 2011
DENG wrote:
INTELLIGENT PEOPLE KNOW THE FEDERAL RESERVE BANKS ARE PRIVATE BANKS WITH PRIVATE INTERESTS MAKING PUBLIC DECISIONS FOR THE PUBLIC IN THE UNITED STATES
You are absolutely correct.

Here's a little truth on what some of these banksters have been up to, and indicted for, though with few fines, and no real consequences for their crashing our economy:

http://www.nytimes.com/2011/10/20/business/ci...

“Open your eyes”

Since: Sep 09

Central Florida

#7 Oct 20, 2011
In the words of Gomer Pyle, "Surprise Surprise Surprise".

The Federal Reserve is a private bank. Accountable only to its share holders. They are not Federal and there is nothing in Reserve. The big lie of the Fed is being exposed more and more everyday.

The Fed controls the business cycle by creating artificial bubbles and manipulating the markets. They loan the US Government our own money with interest applied.

Thomas Jefferson warned of this."I believe that banking institutions are more dangerous to our liberties than standing armies. If the American people ever allow private banks to control the issue of their currency, first by inflation, then by deflation, the banks and corporations that will grow up around [the banks] will deprive the people of all property until their children wake-up homeless on the continent their fathers conquered. The issuing power should be taken from the banks and restored to the people, to whom it properly belongs."

After signing the Federal Reserve Act of 1913, Woodrow Wilson realized what he had done. He wrote, "I am a most unhappy man. I have unwittingly ruined my country. A great industrial nation is controlled by its system of credit. Our system of credit is concentrated. The growth of the nation, therefore, and all our activities are in the hands of a few men."

Even Teddy Roosevelt was against a private bank controling our currency. "Issue of currency should be lodged with the government and be protected from domination by Wall Street. We are opposed to…provisions [which] would place our currency and credit system in private hands."

Abraham Lincoln once said, "The Government should create, issue, and circulate all the currency and credits needed to satisfy the spending power of the Government and the buying power of consumers. By the adoption of these principles, the taxpayers will be saved immense sums of interest. Money will cease to be master and become the servant of humanity."
BandMaster

Since: Sep 11

Location hidden

#11 Oct 20, 2011
They lack brains, evidently.

“Hillary, thirty years of lying”

Since: Nov 08

Paris

#13 Oct 20, 2011
Caribou Barbie wrote:
<quoted text>
You are absolutely correct.
Here's a little truth on what some of these banksters have been up to, and indicted for, though with few fines, and no real consequences for their crashing our economy:
http://www.nytimes.com/2011/10/20/business/ci...
odoodle has had his hand in the bankers cookie jar more than any President in the last 40 years.

“Hillary, thirty years of lying”

Since: Nov 08

Paris

#14 Oct 20, 2011
DENG wrote:
INTELLIGENT PEOPLE KNOW THE FEDERAL RESERVE BANKS ARE PRIVATE BANKS WITH PRIVATE INTERESTS MAKING PUBLIC DECISIONS FOR THE PUBLIC IN THE UNITED STATES
After all, it was devised by a liberal commiecrat.
ron rico

United States

#15 Oct 20, 2011
TRANSPARENCY? what seems to be transparent is the fereral reserve buys the notes,bonds, overspending of the government , sells them to itself ,then prints more non existant wealth ON THEIR HOLDINGS.,for congress to spend.$16 trillion in debt tells me "THIS KIND OF UNSCRUTABLE BEHAVIOR AINT NOTIN KNEW ,ITS BEEN GOING ON FOR DECADES".about the only thing backing the reserve notes is the OINK /INK ON THE PAPER. just like GERMAN NOTGELD of the 1920s, notgeld"NOT MONEY".betcha saddam, momamar, assad, ackadinajerk,have more reserve notes than half the banl=ks in iowa
LostForWords

Jefferson City, MO

#18 Oct 20, 2011
Who has always said we need to do something about the Federal Reserve bank?

Ron Paul 2012
http://www.ronpaul2012.com/

Ron Paul FaceBook
http://www.facebook.com/ronpaul

Not Sure but want to keep up to date on what Ron Paul says?
http://www.ronpaul2012.com/sign-up-for-newsle...
jon

Eatontown, NJ

#20 Oct 20, 2011
the fed and dodd-frank bill screw (we the people ) consumers over swipe fees. any member like dodd even hinting of leaving congress should not write bills!!!!!!!!!!
bailout my duck

United States

#21 Oct 20, 2011
isnt interesting how things seem to be on the brink of total collapse but never break that last straw what does that tell u?its a rig game total wealth control by?
BandMaster

Since: Sep 11

Location hidden

#23 Oct 21, 2011
FR Banks lack intelligent people. Bernanke does not seem to be the brightest bulb in the chandelier.
BandMaster

Since: Sep 11

Location hidden

#24 Oct 21, 2011
Bernanke studied how to make a depression and tried it out on us.
tapmcfarland

Leesville, LA

#25 Oct 21, 2011
DENG wrote:
INTELLIGENT PEOPLE KNOW THE FEDERAL RESERVE BANKS ARE PRIVATE BANKS WITH PRIVATE INTERESTS MAKING PUBLIC DECISIONS FOR THE PUBLIC IN THE UNITED STATES
agree!

“Angry Antlers ”

Since: Sep 08

Miami

#26 Oct 21, 2011
Le Jimbo wrote:
<quoted text>odoodle has had his hand in the bankers cookie jar more than any President in the last 40 years.
Which is why Wall Street regulation "reform" is as weak as it is, and further, is why Obama is a Republican.

Thanks for clarifying that.
BandMaster

Since: Sep 11

Location hidden

#27 Oct 21, 2011
Socialism reminds me of those crappy Russian cars. That's what Obama is doing to this country.
BandMaster

Since: Sep 11

Location hidden

#28 Oct 21, 2011
Trabant 601. What a piece of crap. It is synonymous with socialists. It's terrible.

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