The Fed was created in 1913 under the Federal Reserve Act. There is nothing, whatsoever, in the 107-year history of the Fed that states or even suggests that it can lever up taxpayer money by 10 to 1 to bail out Wall Street and stick the taxpayer with the losses… Read More Congress Sets Up Taxpayers to Eat $454 Billion of Wall Street’s Losses. Where Is the Outrage?
At this point the world economy, and especially the US economy, only works as long as you keep it hooked up to a ventilator, and it works badly… Read More How Capitalism Was Destroyed From Within
Most Americans likely assume that Jerome Powell, the Chairman of the Federal Reserve, is an economist, like the prior chairs of the Fed over the past 40 years. He’s not… Read More Fed Chair Powell Has Millions Invested with BlackRock, the Firm that Will Manage a $750 Billion Corporate Bond Bailout Program for the Fed
It was the best of times, it was the worst of times… Read More Fiercest Economic Collapse in History is Best Month for Stock Market
Without spending a dime, the New York Fed has single handedly propped up both the Dow and the junk bond market with its well-timed announcements on March 23 and April 9… Read More This Chart Shows How the Fed Manipulated Junk Bonds to Help the Dow
The Fed is back to its same ole bait and switch routine… Read More Fed Plans to Release Names of Bailout Recipients – Just Not on $9 Trillion in Secret Loans
The Federal Reserve could oversee an economic recovery or a once-in-a-century heist. It has the power to choose… Read More The Coronavirus Bailout Should Not Be A License To Steal
“As we’ve seen in responses to other economic crises, a stark divide is showing up between buoyant sentiments in financial markets and impoverished economic conditions on the ground.”… Read More The Bailout, the Fed, and the Aftermath
Since December 2007, the Federal Reserve has simply written its own playbook, independent of the law that governs it… Read More Rather Than Being Drained, the Swamp Is Draining the U.S. Treasury Via the New York Fed
The financial condition of these banks essentially means the difference between the life and death of the U.S. economy. It’s not looking good so far.… Read More Americans Are Paying a Tragic Price for Allowing Five Banks to Control the U.S. Economy
This begs the question: did the U.S. have a Wall Street banking crisis similar to 2008 long before there was a pandemic crisis?… Read More A Strange Timeline at JPMorgan Chase Includes a Meeting with Fed Chair Jay Powell
The usual suspects are at it again… Read More Three of the Biggest Banks on Wall Street Have $7.4 Trillion In Off-Balance Sheet Exposures
