It is now evident that those of us who supported the bailout of greedy financial services companies were betrayed -along with the millions of Americans who opposed the bailout. Maybe the opponents were correct - these creeps cannot be trusted.
As reported by Bloomberg News, Fed Defies Transparency Aim in Refusal to Disclose:
(originally)...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.
As AIG receives its second infusion of public money, bringing the public commitment to $150 billion, fed chief Bernanke and his cohorts at Treasury refuse to divulge the amounts provided to other key financial services companies that were operated by thieves masquerading as prominent wall street financiers for so many years.
Bloomberg is upping the ante with its lawsuit deigned to throw sunlight on the debacle, Bloomberg suing Fed to disclose bailout details
"The Fed has lent $1.5 trillion to banks, including Citigroup Inc. and Goldman Sachs Group Inc., through programs such as its discount window, the Primary Dealer Credit Facility and the Term Securities Lending Facility. Collateral is an asset pledged to a lender in the event that a loan payment isn't made. "The Fed made the loans under 11 programs in response to the biggest financial crisis since the Great Depression. The total doesn't include an additional $700 billion approved by Congress in a bailout package.