+1

And apparently a number of foreign countries as well.

Regards,

Michael B. Smith
Consultant and Exchange MVP
http://TheEssentialExchange.com

From: Kurt Buff [mailto:[email protected]]
Sent: Friday, July 22, 2011 10:11 AM
To: NT System Admin Issues
Subject: Re: The Fed Audit [OT]

Free economies self-correct - and ours is not free.

If it were, AIG and lots of other operations would have gone bankrupt.

This report is just one more confirmation of that.

Kurt
On Fri, Jul 22, 2011 at 07:03, Andrew S. Baker 
<[email protected]<mailto:[email protected]>> wrote:
Economies do *not* self correct, however.

They only appear to do so under the threat of something else happening.  When 
left alone, money congregates -- it does not disperse.

ASB

http://about.me/Andrew.S.Baker

Harnessing the Advantages of Technology for the SMB market…



On Fri, Jul 22, 2011 at 9:46 AM, Michael B. Smith 
<[email protected]<mailto:[email protected]>> wrote:
The fed, at its core, is (in my opinion) socialistic in the extreme.

Economies need to self-correct. The fed attempts to stop that, and (again in my 
opinion) makes things worse.

Regards,

Michael B. Smith
Consultant and Exchange MVP
http://TheEssentialExchange.com


-----Original Message-----
From: Ben Scott [mailto:[email protected]<mailto:[email protected]>]
Sent: Friday, July 22, 2011 9:38 AM
To: NT System Admin Issues
Subject: The Fed Audit

 Dean should *love* this:

"The Fed Audit"
http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

 The rhetoric in the press release is rather sensationalist, but the
fact that the Federal Reserve loaned out $16 trillion to prop up banks
and businesses is none-the-less interesting.  The full GAO report is
266 pages long but the introduction paints a picture of an
organization with likely conflicts of interest, no transparency, and
little oversight.

-- Ben

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