Where Did The Money Go?

… oh and where is the next round of money going. The Fed asks us to put our faith in them. PEBO asks us to put our faith in him. The Democrats ask us to put our faith in the Government. Trust us is the mantra in Washington. Trust us with your money. One trillion dollars.

This video (Hat Tip Erik from the chat room) is a week old … but still fresh. If you haven’t seen it … it is indeed worth the watch. It goes by so quickly. But it shows you what happens when you put your faith in men. It’s not their money … but they sure think it is.

From Congressman Alan Grayson’s You Tube site:

Fed Vice Chair Donald Kohn testified before the Financial Services Committee today, along with John Bovenzi of the FDIC. The Fed’s balance sheet has expanded by $1.2 trillion since September 1. Where did the money go? Kohn wouldn’t say.

3 replies
  1. weregettinghosed
    weregettinghosed says:

    We are being HOSED big time! When are we going to get someone to support We the People and do something that will save us. I say help the people and forget the corporations and banks – in all of the 'people' there sure must be some that would stand up and start all over again! We are forgetting that there are many very smart – near genius men and women out there that could turn America around with no bail out money, just starting over again. I say if you can not meet the budget, or balance your books you need not be in business, fix it or go down. Somebody please stand up and tell these banks stop hosing America.

  2. Rick-WH
    Rick-WH says:

    There are several possibilities.  First possibility, his wife and children are being held hostage during his testimony to make sure that he doesn't squeal.  Second possibility, he has no clue where it went.  Third possibility, he really believes that the Treasury Secretary has sole authority to decide such matters.

    The members of the congress  forget that the  Federal Reserve Bank is a private corporation, not part of the government.  What recourse does Congress have – other than to cut the Federal Reserve Bank out of the equation? 

    Certainly, loans to members or nonmembers of the Federal Reserve Bank have a market value based on the creditworthiness of the borrower and the quality of the collateral.  Even if the Federal Reserve Bank purchased preferred stock in a bank (such as Citigroup), it would have a market value different than the purchase price – especially in their difficult situation.

    Why doesn't Congress ask these questions to the nominee for Treasury Secretary, since he is the current head of the Federal Reserve Bank of New York which has undertaken these transactions.

    • weregettinghosed
      weregettinghosed says:

      Good points taken by Rick-WH — these are the types of things that no one is wanting to address but the citizens of this USA want to know the answers to questions regarding their banking industry – and it is an industry. Banks are not above the law and they should not be given special treatment. We are getting hosed by the government and it is high time we get some answers. — yes, the nominee for treasury secretary sure must have the answers if he does not being the head of the Federal Reserve, we are really in deep water. One thing for sure is the money has not gone down the chain to help the people as it should have, so where is it?

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