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Wall St. wives got a secret $220 million bailout from the Fed: report

A report in the latest edition of Rolling Stone magazine made waves Wednesday for revealing what it called a secret, roundabout bailout of $220 million, given to Wall Street wives by the U.S. Federal Reserve. “According to popular legend, we’re broke and in so much debt that 40 years from…

U.S. Fed loaned Libya-backed bank billions

WASHINGTON — The Federal Reserve lent a Libyan state-backed bank billions of dollars during the financial crisis, documents made public on Thursday have revealed. The Arab Bank Corporation, which is today 59.3 percent owned by the Libyan government, borrowed in slices as big as $1.175 billion from the US central…

US Fed delivers $79 billion boost to government

WASHINGTON – The US central bank was a pretty profitable business in 2010, returning $79.3 billion to the government, much of it interest on securities bought to prop up the economy, it said Tuesday. The Federal Reserve published its official accounts showing a net profit of $81.7 billion, a 53…

Federal Reserve expected to claim no homes have been wrongfully foreclosed

Can you justify putting a family out on the streets? What about millions of families? According to remarks at a recent public meeting, the Federal Reserve is preparing to do just that. In a recent meeting of the Fed’s Consumer Advisory Council, the nation’s central bank came under intense criticism…

Ron Paul: Fed ‘monopoly’ could be broken if Americans use gold, silver as currency

As the incoming chairman of the House monetary policy subcommittee, Rep. Ron Paul (R-TX) will hold the bully pulpit when it comes to the nation’s money woes. He’s not wasting any time getting right to the heart of the matter. The libertarian-leaning conservative has long been a critic of the…

It’s official: Ron Paul to lead House Federal Reserve oversight

Iconoclastic Texas Republican defends WikiLeaks again, says US response ‘an example of killing the messenger’ The greatest critic of fiat currency perhaps anywhere in the world is about to take control of a congressional panel that would conduct oversight on the US Federal Reserve bank. This could get interesting. After…

Fed chair says economy struggling to be ‘self-sustaining’

Bernanke ramps up defense of Fed’s Treasury bond purchases by pointing to weak economy Federal Reserve Chairman Ben Bernanke is stepping up his defense of the Fed’s $600 billion Treasury bond-purchase plan, saying the economy is still struggling to become “self-sustaining” without government help. In a taped interview with CBS’…

New data shows foreign banks biggest recipients of Fed money

The Federal Reserved released documents Wednesday identifying the recipients of $3.3 trillion in emergency aid provided at the height of the financial crisis. “Two European megabanks — Deutsche Bank and Credit Suisse — were the largest beneficiaries of the Fed’s purchase of mortgage-backed securities,” The Huffington Post‘s Shahien Nasiripour reported.…

Fed Chairman Ben Bernanke defends $600 billion shadow stimulus

Federal Reserve Chairman Ben Bernanke defended the Fed’s new $600 billion program to aid the economy on Saturday, rejecting concerns that it will spur runaway inflation. Critics, including some Fed officials, fear that all the money being injected into the economy could ignite inflation or speculative bubbles in the prices…

Federal Reserve to print billions of dollars in massive shadow stimulus

The Federal Reserve’s policy-setting panel began a crucial two-day meeting Tuesday, poised to cast aside its long-held reluctance to micro-manage the economy in a bid to avoid a lost decade of growth. The central bank’s open market committee (FOMC) is expected to approve massive stimulus spending not seen since the…

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