naked capitalism Thu 2009-08-27 10:50 EDT
Quelle Surprise! Fed Uses Scare Tactics to Try to Forestall Loan Disclosures
In a show of how much our government thinks that serving the financial oligarchy, rather than the citizenry, is its prime duty, the Fed is fighting to stop the court-ordered disclosure of who borrowed money under the Fed's various lending facilities. The reason I lump the Fed in with "the government" is that the central bank has been serving as an off-balance sheet entity of the Treasury for quite some time. And not only are the Fed and Treasury acting in near lockstep, but there has been no meaningful change in the government stance towards the banksters. Yes, Team Obama makes more of a show of trying to rein them in, but push comes to shove, it's merely Paulson version 2.0: same content, better packaging. Paulson's success in muscling...
Fed Uses Scare Tactics; Forestall Loan Disclosures; naked capitalism; Quelle Surprise; trying.