Just a Little Something Mainstream Media Won't Be Telling You
by James Glaser
November 11, 2008

Remember the 700 billion dollar bailout Congress just passed, and how people were telling us that was a lot of money? Well, the Federal Reserve has passed its own private bailout, but this one is for 2,000 billion dollars. They won't tell us who they gave the money (American tax dollars) to, and they won't tell us what was given as collateral.

Another thing—I Googled "Federal Reserve Bank two trillion dollar loan," and I got many reports about it, but none from ABC, CBS, NBC, NPR, FOX, or any other major news outfit. Here is how Bloomberg.com started their report:

Fed Defies Transparency Aim in Refusal to Disclose (Update2)
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.

It would probably be good if you read the whole Bloomberg article or Google it yourself, and read any of the other pages reporting this same story. Then ask yourself why mainstream media does not think this is important enough to report.

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