For a long time in the conspiracy “theorist” community, it has been stated that the Federal Reserve Bank is not federal and that it is in fact privately owned. A lot of people reject that notion. They claim that the U.S. Government (Congress) controls the Fed, and not the other way around.
They point to October 3, 2008 when Congress voted for a $700 Billion Dollar bank bailout and the “Emergency Economic Stabilization Act” was signed into law by President Bush before the money was counterfe… oops, I mean printed and released. But who voted for the other $12.8 Trillion?
According to a team at Bloomberg News, at one point last year the U.S. had lent, spent or guaranteed as much as $12.8 trillion to rescue the economy. The Bloomberg reporters have been following that money. Alison Stewart spoke with one, Bob Ivry, to talk about the true cost to the taxpayer of the Wall Street bailout. Most of this is UN-accounted for and the private Federal Reserve won’t tell.
Originally posted 2014-01-13 17:57:54.