Lawsuit Loan Boston

Will Obama keep his promise of transparency? cause Id like to know where 2 trillion in taxpayer money went.?

Question: Why cant the public be informed of where our money is going? Fed Defies Transparency Aim in Refusal to Identify Bank Loans By Mark Pittman, Bob Ivry and Alison Fitzgerald Nov. 10 (Bloomberg) -- The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral. Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn't require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return. ``The collateral is not being adequately disclosed, and that's a big problem,'' said Dan Fuss, vice chairman of Boston- based Loomis Sayles & Co., where he co-manages $17 billion in bonds. ``In a liquid market, this wouldn't matter, but we're not. The market is very nervous and very thin.'' Bloomberg News has requested details of the Fed lending under the U.S. Freedom of Information Act and filed a federal lawsuit Nov. 7 seeking to force disclosure. http://www.bloomberg.com/apps/news?pid=20601087&sid=aatlky_cH.tY&refer=worldwide Bush is a lame duck.. the question is about Obama and his promises... BTW.. didnt Pelosi, Reid, and the Democratic controlled congress vote the bailout plan up? at any rate this is the Federal reserve acting independently of the bailout.




Answer: Thank-you Heard this this morning might make NBC