Tag Archives for: banks
Green Party presidential candidate Jill Stein and her vice presidential running mate Cheri Honkala were arrested today during a protest at the offices of mortgage company Fannie Mae on Banker’s Row in Philadelphia.
“For all the transparency forced on the Federal Reserve by Congress and the courts, one of the central bank’s emergency-lending programs remains so secretive that names of borrowers may be hidden from the Fed itself.”
“We now have concrete evidence that Wall Street and Washington are running a secret government far removed from the democratic process. Through a freedom of information request by Bloomberg News, the public now has access to over 29,000 pages of Fed documents and 21,000 additional Fed transactions that were deliberately hidden, and for good reason.”
Hats off to Judge Jed S. Rakoff! It appears Judge Rakoff could not determine whether the S.E.C.’s settlement with Citigroup was “fair, reasonable, adequate and in the public interest,” and followed with the S.E.C. “has a duty, inherent in its statutory mission, to see that the truth emerges.” and then he referred to the $285 million settlement has “pocket change to any entity as large as Citigroup.” – Hopefully this isn’t the last “quick headline” we’ll see about Judge Rakoff and this case.
“The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing.”
An analysis of the relationships between 43,000 transnational corporations has identified a relatively small group of companies, mainly banks, with disproportionate power over the global economy.
According to Senator Bernie Sanders: “Top executives from Goldman Sachs, J.P. Morgan Chase, General Electric and other firms sat on the boards of regional Federal Reserve banks while their firms benefited from the central bank’s policies during the financial crisis, the Government Accountability Office investigation found.”