Indeed, Ron Paul noted recently that one-third of all fed bailout loans - and essentially 100% of loans from the New York Fed - went to foreign banks.
The New York Fed is the most important Fed bank. As Bloomberg pointed out in 2009:
The New York Fed is one of 12 regional Federal Reserve banks and the one charged with monitoring capital markets. It is also managing $1.7 trillion [now up to at least $1.9 trillion] of emergency lending programs [and accepting collateral from the banks in return].
While the Fed’s Washington-based Board of Governors is a federal agency subject to the Freedom of Information Act and other government rules, the New York Fed and other regional banks maintain they are separate institutions, owned by their member banks, and not subject to federal restrictions.
Federal Reserve Attorneys: Fed Banks Are “Not Agencies” But “Independent Corporations” With “Private Boards of Directors”
Read more at http://www.washingtonsblog.com/2011/07/federal-reserve-attorneys-admit-that.html
- Federal Reserve Secrets and Lies
- OUTRAGE OF THE DAY: Do You Realize That The Government Is Still Paying Banks Not To Lend…?
- Federal Reserve Blows More Bubbles
- Secret Fed Loans Gave Banks Undisclosed $13B
- Federal Reserve pumps another 85 billion into the market this month. Expect new highs!
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