Posts Tagged ‘great depression’

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Fed Refuses to Disclose Recipients of $2 Trillion

December 15, 2008

 Mark Pittam, Bloomberg News                                jump to most recent post 

n1_121408a-11 The Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of emergency loans from U.S. taxpayers and the assets the central bank is accepting as collateral.

    Bloomberg filed suit Nov. 7 under the U.S. Freedom of Information Act requesting details about the terms of 11 Fed lending programs, most created during the deepest financial crisis since the Great Depression.

    The Fed responded Dec. 8, saying it’s allowed to withhold internal memos as well as information about trade secrets and commercial information. The institution confirmed that a records search found 231 pages of documents pertaining to some of the requests.

    “If they told us what they held, we would know the potential losses that the government may take and that’s what they don’t want us to know,” said Carlos Mendez, a senior managing director at New York-based ICP Capital LLC, which oversees $22 billion in assets.

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MasterCard: The official card of the Greater Depression

September 21, 2008

Another Operation Itch ad.

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Derivative Markets and the 2nd Great Depression

September 19, 2008

Sign up for the OPERATION ITCH network– post your videos, blogs & connect

questions for the comments: 1. Who the hell can shed some light on this derivative market thing? 2. Is the current crisis the start of a a depression, or just a normal bump in the free market road? 3. Investment tips? 4. Is the Hermit video making style derivative of any other? 5. AC/DC- lover em or hate em?

Also – I notice there are some newbies here. If you are wondering what all of this is about, read below the fold: Read the rest of this entry ?