Front men for the Federal Reserve/Treasury once again testified before Congress on March 3.
The media fawned over the 'tough questions' asked of them but what will Congress do?
Nothing. The theft will continue.
Bernanke, will you tell the American people to whom the Federal Reserve lent $2.2 trillion of their dollars - video
Bernanke responded that the Fed explains the various lending programs on its website, and details the terms and collateral requirements.
When Sanders pressed on whether he would name the firms that borrowed from the Fed, the central bank chairman replied, "No," and started to say that doing so risked stigmatizing banks and discouraging them from borrowing from the central bank.
"Isn't that too bad," Sanders interrupted, cutting off Bernanke's answer. "They took the money but they don't want to be public about the fact that they received it."
He said businesses in his state were in trouble and needed loans, but were not permitted to borrow from the Fed.
"Do you have to be a large, greedy, reckless financial institution to apply for this money?" he asked.
Bernanke said the Fed's lending programs were not gifts or subsidies but rather over-collateralized loans. He said the law restricted the types of firms to which the central bank can lend.
"We have never lost a penny doing it," he said.
Sanders responded: "Let me just say this, Mr. Chairman. I have a hard time understanding how you have put $2.2 trillion at risk without making those names available, those institutions public."
"We are going to introduce legislation today, by the way, to demand that you do that. It is unacceptable to me that that this goes on," he added. (Reporting by Emily Kaiser, Editing by Chizu Nomiyama)
Geithner on AIG: AIG Allowed Without Any Adult Supervision! - video
Notice that Geithner has a tendency to use neck choking hand symbols when speaking to anyone who questions him. It's also symbolic of the stranglehold the Fed has over the US.
Geithner also uses the term 'your government' several times in his testemony (at about 3:25 in the video). We know he does not work for 'we the people' and his Freudian slip betrays this.
These two liars and criminals should be arrested. Treason would be one of the charges.
Bernanke should have been taken into custody yesterday for contempt of Congress.
Of course Congress is too scared for their lives and careers to take on the Fed.
Ron Paul is the only opposing voice but so far it has gotten us nowhere.
"The chairman of the Federal Reserve board is more powerful than our President."
"He's certainly more powerful than the congress."
quotes from Dr. Paul in part 1 linked below.
Ron Paul on Washington Watch - Audit the Federal Reserve HR 1207 video Part 1