Thread: Kasriel: Fed Secretive for Good Reason

Kasriel: Fed Secretive for Good Reason

Monday, August 31, 2009 5:10 PM

By: Julie Crawshaw

Northern Trust's Paul Kasriel says the real reason the Fed doesn't want us to see its books is not that it fears hampering competition but that The Fed is scared to death that the revelation will trigger another run on some of those banks.

“If the Fed is required to publish the names of financial institutions to which it has extended credit and this publication induces financial institutions to refrain from borrowing from the Fed, one can only speculate if this would be the tinder for another liquidity conflagration in the coming months,â€

No, we're not supposed to know where that money went and how it was spent because then we would know the truth.

We've been hiested....nothing more, nothing less.

Well, then those banks will fail. So what!!!!!!!!!!!! We need to get rid of the fed although I don't think Congress is up to taking care of our money either. At least we wouldn't have to pay interest on it.