godot - 2011-04-20 It wasn't taxpayer money. The 12 Federal Reserve Banks are private nonprofit corporations owned by member banks.
godot - 2011-04-20 The real question is why was TARP (the taxpayer funded bailout) neccesary at all, when the semi-private Fed was happy to take trash collateral for their TALF (note the 'F', its a Fed program with no congressional oversight) loans.
kingarthur - 2011-04-20 Except that it was taxpayer money. Look into how the Fed puts more money into the system.
kingarthur - 2011-04-20 Taibbi is going to get himself shot. Ames and Levine too.
Their stuff is required reading in my household.
Konversekid - 2011-04-21 Separation of power sounds great and all, but it seems like a bit of focused Stalinistic paranoia would really help out with shit like this.