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Thread: Bloomberg files lawsuit to disclose terms of federal bank loans

  1. #1
    Blueneck

    Bloomberg files lawsuit to disclose terms of federal bank loans

    Bloomberg News has filed a federal lawsuit under the U.S. Freedom of Information Act to force disclosure of the details of almost $2 trillion in emergency loans from American taxpayer money to the nation's banks.

    The Federal Reserve Bank is refusing to identify the recipients of loans.
    Great idea. Too bad they had to file a lawsuit to force disclosure of this. It should have been a precondition of the bailout bill.

    And this gets me to thinking about something. How the hell do we know there's no "skimming" going on here? Maybe I've just seen Casino too many times, but it seems to me it wouldn't be all that difficult for flat out embezzlement to take place here.

    Maybe I'm just paranoid. But I can't help but wonder if America doesn't have a complete disconnect in the idea that our public officials would never just rob the treasury. If there are no rules and no transparency, why should we trust them?

    Bloomberg files lawsuit to disclose terms of federal bank loans - BizTimes

  2. #2
    nonsqtr

    Re: Bloomberg files lawsuit to disclose terms of federal bank loans

    Excellent!

    Why would the Fed "refuse to disclose the recipients"?

    No way, pal. That is MY money, and I want to know where it's going.

    Good job, Bloomberg. Brownie points!

  3. #3
    michaelr

    Re: Bloomberg files lawsuit to disclose terms of federal bank loans

    Quote Originally Posted by Blueneck View Post
    Great idea. Too bad they had to file a lawsuit to force disclosure of this. It should have been a precondition of the bailout bill.

    And this gets me to thinking about something. How the hell do we know there's no "skimming" going on here? Maybe I've just seen Casino too many times, but it seems to me it wouldn't be all that difficult for flat out embezzlement to take place here.

    Maybe I'm just paranoid. But I can't help but wonder if America doesn't have a complete disconnect in the idea that our public officials would never just rob the treasury. If there are no rules and no transparency, why should we trust them?

    Bloomberg files lawsuit to disclose terms of federal bank loans - BizTimes
    No no no, it is 700 billion and it is a bailout, ask anyone. Of course there has been zero bad assets purchased, and failing, and now even strong banks have been bought. And hat whats two trillion, when there is 5 trillion spent. Nice 700 Billion bailout hey..

    By the way, under the package, they do not have to tell anyone anything!

  4. #4
    nonsqtr

    Re: Bloomberg files lawsuit to disclose terms of federal bank loans

    Quote Originally Posted by michaelr View Post
    No no no, it is 700 billion and it is a bailout, ask anyone. Of course there has been zero bad assets purchased, and failing, and now even strong banks have been bought. And hat whats two trillion, when there is 5 trillion spent. Nice 700 Billion bailout hey..

    By the way, under the package, they do not have to tell anyone anything!
    What the hell is WRONG with these people?

    Why does it take a guy like Bloomberg to stand up for the little guy?

    It's the WEASELS who're supposed to be standing up for the little guy - that's what I PAY those rotten bastids for!!!

    The big guys, they can stand up for THEMSELVES. They don't need Washington's help.

    It's the LITTLE guy that needs Washington's help!

    Dude, I have an Ivy League education, and I have skills that are VASTLY superior to 99% of the population's, and right now I feel SMALL. I feel like the littlest guy I've ever felt like in my WHOLE LIFE!

    My President's out there torturing people, the weasels who're supposed to be protecting my Rights are turning a BLIND EYE while other people trample on 'em, I can't afford ANYTHING anymore, and to top it all off - NOTHING WORKS ANYMORE! Everything's f'in BROKEN! The streets got potholes big enough to tear out your axle, the cops don't come anymore when you got a problem, the computers don't work at the public library so we got a buncha kids millin' around down by the liquor store instead -

    Dude, this is FUCKED UP!!! (pardon the vernacular, but it is!)

    And here they are pissing away even MORE money, and for WHAT?

    They know darn well those companies are going to fail ANYWAY, so what the hell are they givin' 'em money for?

    Today we got GM and Ford saying "bankruptcy is not an option" - either bail us out or we're goin' under. FINE! Go under! Bankruptcy IS an option for those clowns, what'll happen is the guvmint will sieze all their assets and divvy 'em up to the highest bidder. You'd think anyone with a BRAIN would rather do that THEMSELVES, instead of havin' the guvmint do it for 'em, but hey, WTF do I know, I'm just a little guy, remember?

    And then the WORST part of all this, is that those clowns in Congress who are supposed to be representing US, are representing SOMEONE ELSE!!!

    They're giving away MY money to a private bank, so they can turn around and loan it to someone else. And meanwhile, I, am stuck holdin' the bag, 'cause I can't pay my f'in bills. WHAT IS WRONG WITH THIS PICTURE???

    Dude, I was SO pissed when I discovered my President was out there torturing people, that I stopped paying taxes. And NOW, I'm just about ready to start payin' 'em again, and they go do something STUPID LIKE THIS!!! Now I REALLY wanna know WTF is up with these clowns. These guys are really startin' to piss me off now.

    I got a good friend in Philly RIGHT NOW, they're about ready to turn off his heating oil, and it just got COLD there. It's gonna be 30 degrees tonight. So WTF is my government doing giving my tax money to a bunch of RICH BANKERS??? They cut some deal with those clowns where those SLEAZEBAGS still get their bonuses! What's up with that?

    I ain't payin' these f*ckers to represent SOMEONE ELSE. I'm paying to represent the People of the United States.

    PEOPLE, being the operative word there, not some goddam corporation that's doesn't even have ONE single right under the Constitution. NOT ONE!!! And these rotten bastids want me to believe that THEY're more important than I am? And my next door neighbor? And my buddy in Philly? And YOU???

    I THINK NOT!

    Those f*ckers need a heads-up, and I'm not entirely sure (yet) how that's going to happen, but it will. Trust me - those clowns have VERY little time now. They better get somethin' together FAST, and start LISTENING to the People.

    'Cause otherwise, what we got here, is taxation WITHOUT representation, and that is ..... unacceptable.

    Sorry, pals and palettes, but that is NOT acceptable. Not in the least.

    Those f*ckheads will REPRESENT me, or they will not get my tax money.

    And they can do somethin' STUPID, like come after me and spend even MORE taxpayer money floatin' my room and board for a year, but they can't force me to pay for torture, and they can't force me to pay for someone else's GREED either.

    I pay those f*ckers for ONE purpose and one purpose ONLY, and if they're too stupid to understand that, then they need a heads-up.

    They seem to think the People are stupid. We can EASILY show them otherwise.

    And I really REALLY don't think they want us to go down that path.

    And WE don't want to go down that path either.

    So, all I have to say, is, they better get a clue FAST.

    /rant

  5. #5
    Oftencold

    Re: Bloomberg files lawsuit to disclose terms of federal bank loans

    Quote Originally Posted by Blueneck View Post
    They should not be trusted. After they have left office will be the time to decide who was a paragon of virtue, and who was as coundrel.

    While they are in power, if should be assumed that they are quite possibly corrupt, all of them.

    This does not mean that they are not to be respected (provisionally, of course,) or that we need assume all or them or vermin. But it must be conceded that some are, and all are suspects.

  6. #6
    michaelr

    Re: Bloomberg files lawsuit to disclose terms of federal bank loans

    Quote Originally Posted by nonsqtr View Post
    What the hell is WRONG with these people?

    Why does it take a guy like Bloomberg to stand up for the little guy?

    It's the WEASELS who're supposed to be standing up for the little guy - that's what I PAY those rotten bastids for!!!

    The big guys, they can stand up for THEMSELVES. They don't need Washington's help.

    It's the LITTLE guy that needs Washington's help!

    Dude, I have an Ivy League education, and I have skills that are VASTLY superior to 99% of the population's, and right now I feel SMALL. I feel like the littlest guy I've ever felt like in my WHOLE LIFE!

    My President's out there torturing people, the weasels who're supposed to be protecting my Rights are turning a BLIND EYE while other people trample on 'em, I can't afford ANYTHING anymore, and to top it all off - NOTHING WORKS ANYMORE! Everything's f'in BROKEN! The streets got potholes big enough to tear out your axle, the cops don't come anymore when you got a problem, the computers don't work at the public library so we got a buncha kids millin' around down by the liquor store instead -

    Dude, this is FUCKED UP!!! (pardon the vernacular, but it is!)

    And here they are pissing away even MORE money, and for WHAT?

    They know darn well those companies are going to fail ANYWAY, so what the hell are they givin' 'em money for?

    Today we got GM and Ford saying "bankruptcy is not an option" - either bail us out or we're goin' under. FINE! Go under! Bankruptcy IS an option for those clowns, what'll happen is the guvmint will sieze all their assets and divvy 'em up to the highest bidder. You'd think anyone with a BRAIN would rather do that THEMSELVES, instead of havin' the guvmint do it for 'em, but hey, WTF do I know, I'm just a little guy, remember?

    And then the WORST part of all this, is that those clowns in Congress who are supposed to be representing US, are representing SOMEONE ELSE!!!

    They're giving away MY money to a private bank, so they can turn around and loan it to someone else. And meanwhile, I, am stuck holdin' the bag, 'cause I can't pay my f'in bills. WHAT IS WRONG WITH THIS PICTURE???

    Dude, I was SO pissed when I discovered my President was out there torturing people, that I stopped paying taxes. And NOW, I'm just about ready to start payin' 'em again, and they go do something STUPID LIKE THIS!!! Now I REALLY wanna know WTF is up with these clowns. These guys are really startin' to piss me off now.

    I got a good friend in Philly RIGHT NOW, they're about ready to turn off his heating oil, and it just got COLD there. It's gonna be 30 degrees tonight. So WTF is my government doing giving my tax money to a bunch of RICH BANKERS??? They cut some deal with those clowns where those SLEAZEBAGS still get their bonuses! What's up with that?

    I ain't payin' these f*ckers to represent SOMEONE ELSE. I'm paying to represent the People of the United States.

    PEOPLE, being the operative word there, not some goddam corporation that's doesn't even have ONE single right under the Constitution. NOT ONE!!! And these rotten bastids want me to believe that THEY're more important than I am? And my next door neighbor? And my buddy in Philly? And YOU???

    I THINK NOT!

    Those f*ckers need a heads-up, and I'm not entirely sure (yet) how that's going to happen, but it will. Trust me - those clowns have VERY little time now. They better get somethin' together FAST, and start LISTENING to the People.

    'Cause otherwise, what we got here, is taxation WITHOUT representation, and that is ..... unacceptable.

    Sorry, pals and palettes, but that is NOT acceptable. Not in the least.

    Those f*ckheads will REPRESENT me, or they will not get my tax money.

    And they can do somethin' STUPID, like come after me and spend even MORE taxpayer money floatin' my room and board for a year, but they can't force me to pay for torture, and they can't force me to pay for someone else's GREED either.

    I pay those f*ckers for ONE purpose and one purpose ONLY, and if they're too stupid to understand that, then they need a heads-up.

    They seem to think the People are stupid. We can EASILY show them otherwise.

    And I really REALLY don't think they want us to go down that path.

    And WE don't want to go down that path either.

    So, all I have to say, is, they better get a clue FAST.

    /rant
    This is the type of anger that I expect from all Americans. When you have the bankers saying fuck off you signed it you live with it, then I would argue that you have no government. Everyday on M$M, they talk about how these bastards are openly stealing from you, and paying themselves big bucks for doing it.

    There is a point about your bills...hey fuck that buddy, we have to pay these bastards what they want, or your ass will end up in some FEMA camp somewhere doing slave labor to pay them off. And thats after paying them rent. It's called prison!

    They will allow the big three to fall, if not they would be helping the real economy, and that is not their intention. Your seeing the last grab, when it's gone the bankers will be gone. Dubai is selling more condo's than this country has for the decade.

    It's over!...I fell for your pal, this would make a great human interest for the local paper, and he would receive the sympathy from the locals!!!

  7. #7
    Blueneck

    Re: Bloomberg files lawsuit to disclose terms of federal bank loans

    Quote Originally Posted by Oftencold View Post
    They should not be trusted. After they have left office will be the time to decide who was a paragon of virtue, and who was as coundrel.

    While they are in power, if should be assumed that they are quite possibly corrupt, all of them.

    This does not mean that they are not to be respected (provisionally, of course,) or that we need assume all or them or vermin. But it must be conceded that some are, and all are suspects.
    What bothers me is the honest people in Congress, like Kucinich and a very few others, aren't allowed to have any tools to make sure they are not screwing us.

    The same corporate interests that profited from the closing of U.S. factories, the movement of millions of jobs out of America, the off-shoring of profits, the out-sourcing of workers, the crushing of pension funds, the knocking down of wages, the cancellation of health care benefits, the sub-prime lending are now rushing to Washington to get money to protect themselves.

    The double standard is stunning: their profits are their profits, but their losses are our losses.
    This is what he wanted in there:


    1. Reinstatement of the provisions of Glass-Steagall, which forbade speculation
    2. Re-regulation of the finance, insurance, and real estate industries
    3. Accountability on the part of those who took the companies down:
      a) resignations of management
      b) givebacks of executive compensation packages
      c) limitations on executive compensation
      d) admission by CEO's of what went wrong and how, prior to any government bailout
    4. Demands for transparencey
      a) with respect to analyzing the transactions which took the companies down
      b) with respect to Treasury's dealings with the companies pre and post-bailout
    5. An equity position for the taxpayers
      a) some form of ownership of assets
    6. Some credible formula for evaluating the price of the assets that the government is buying.
    7. A sunset clause on the legislation
    8. Full public disclosure by members of Congress of assets held, with possible conflicts put in blind trust.
    9. A ban on political campaign contributions from officers of corporations receiving bailouts
    10. A requirement that 2008 cycle candidates return political contributions to officers and representatives of corporations receiving bailouts
    It's a shame we have so few fighting the good fight here.

    kucinich.us - Protecting the public interest in any economic "bailout"

  8. #8
    Bluegrass

    Re: Bloomberg files lawsuit to disclose terms of federal bank loans

    When the government does not have "national security" to create a facade, it is interesting how much they still omit, complacent from the lack of interest and unconcern in the general public.

  9. #9
    metheron

    Re: Bloomberg files lawsuit to disclose terms of federal bank loans

    The fed still refuses................just an update on this story.

    Bloomberg.com: Worldwide

  10. #10
    michaelr

    Re: Bloomberg files lawsuit to disclose terms of federal bank loans

    Quote Originally Posted by metheron View Post
    The fed still refuses................just an update on this story.

    Bloomberg.com: Worldwide
    The little fucks have patience!

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