Here's an update on http://FriendsOfSlowMoney.com:
economy
Federal Reserve made $14 billion on turmoil loans: report
LONDON (Reuters) - The Federal Reserve has made $14 billion in profits on loans made in the last two years, The Financial Times reported on Monday, citing officials close to the matter.
The U.S. central bank also earned about $19 billion from interest and fees charged to institutions that tapped liquidity facilities during the global financial crisis, the report said.
If the Fed had invested the same amounted loaned out in three-month Treasury bills since August 2007, it would have earned $5 billion in interest, the FT said.
SHOCKER: Federal Reserve Says Disclosing Loans Will Hurt Banks
Aug. 27 (Bloomberg) -- The Federal Reserve argued yesterday that identifying the financial institutions that benefited from its emergency loans would harm the companies and render the central bank’s planned appeal of a court ruling moot.
The Fed’s board of governors asked Manhattan Chief U.S. District Judge Loretta Preska to delay enforcement of her Aug. 24 decision that the identities of borrowers in 11 lending programs must be made public by Aug. 31. The central bank wants Preska to stay her order until the U.S. Court of Appeals in New York can hear the case.
Five Futures for the Audit the Fed Bill
Quote of the Day: "The purpose of a government investigatory commission is to place blame where it does the least harm politically." -- Paul Craig Roberts
S. 604 to Audit the Federal Reserve up to 19 co-sponsors!
S.604, the Federal Reserve Sunshine Act (the Senate version of Ron Paul's H.R. 1207 to Audit the Federal Reserve) has 19 cosponsors! This is HUGE, and a direct result of your ongoing efforts.








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