Bernie Sanders taking on Bernake on Accountability for the Fed.

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	Bernie Sanders taking on Bernake on Accountability for the Fed.

kuwapa

3-4-2009 1:34 AM

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tags:

bailout, fed, bernanke, sanders, bernie, loans, trillion

kuwapa says:

Clipping from Daily kos blogger mspicata on the $2.2 Trillion in loans, unaccounted for by the Fed.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/099f6f34-f950-4ec2-987a-cdcc2bf7a264/4C3CB8FC-11B5-435D-ADC2-FCB019297CFA/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.dailykos.com/storyonly/2009/3/3/165531/9770/544/704231" href="http://www.dailykos.com/storyonly/2009/3/3/165531/9770/544/704231" style="font-size: 11px;">www.dailykos.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dailykos.com/storyonly/2009/3/3/165531/9770/544/704231"><SPAN class="diaryTitle">Bernie Sanders wants Ben Bernanke to name names.  Updated.</SPAN></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dailykos.com/storyonly/2009/3/3/165531/9770/544/704231"><P>"My question to you is, will you tell the American people to whom you lent $2.2 trillion of their dollars?" Sanders asked, referring to the size of the Fed's balance sheet.
</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dailykos.com/storyonly/2009/3/3/165531/9770/544/704231"><BLOCKQUOTE>
<P>According to the text of the proposed legislation, e-mailed by Sanders' staff, he wants the central bank to identify any firm that has received financial assistance since March 24, 2008, including details on the type of borrowing, amount, date, terms and the Fed's rationale for lending.</p> <P>Sanders wants the Fed to publish those details on its website and update them at least every 30 days.
</p> </BLOCKQUOTE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dailykos.com/storyonly/2009/3/3/165531/9770/544/704231"><P>The money Sanders is referring to is loans the Fed has made outside the TARP program.  Bernanke says the loans are "over-collateralized," but opted not to disclose anything more about them, citing the "stigma" attached to receiving such loans.  To that, I have only two comments.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.dailykos.com/storyonly/2009/3/3/165531/9770/544/704231"><P>You'll find video of the exchange in the comments, courtesy of <A href="http://www.dailykos.com/comments/2009/3/3/165531/9770/45#c45">ItsSimpleSimon</A>.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/4C3CB8FC-11B5-435D-ADC2-FCB019297CFA/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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