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Money for Nothing

December 7, 2011

The Fed Bailouts: Money for Nothing

By Alan Grayson, Open Mike Blog

06 December 11

think it’s fair to say that Congressman Ron Paul and I are the parents of the GAO’s audit of the Federal Reserve. And I say that knowing full well that Dr. Paul has somewhat complicated views regarding gay marriage.

Anyway, one of our love children is a massive 251-page GAO report technocratically entitled “Opportunities Exist to Strengthen Policies and Processes for Managing Emergency Assistance.” It is almost as weighty as that 13-lb. baby born in Germany last week, named Jihad. It also is the first independent audit of the Federal Reserve in the Fed’s 99-year history.

Feel free to take a look at it yourself, it’s right here. It documents Wall Street bailouts by the Fed that dwarf the $700 billion TARP, and everything else you’ve heard about.

I wouldn’t want anyone to think that I’m dramatizing or amplifying what this GAO report says, so I’m just going to list some of my favorite parts, by page number.

read the rest

One Comment leave one →
  1. December 26, 2011 4:09 pm

    We all need to help save the country from those absconders of these monies and the major capital flight that has robbed us of our jobs, which should have been severely taxed or even prohibited as it is in some foreign countries. Just WHERE are all the USAG and POTUS, states’ AGs in this ? I want answers, SOON ! My congressmen are actually sending me “hand written” letters with some discussion…Just DO IT ! Be Persistant ! IT CAN WORK ! Alan Grayson needs to be returned to an effective post in the government to continue his fine work along with Ron Paul, whom I do not totally agree with, but at least these two are honest Americans trying as best they can to save us all !


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