On Mar 9, 2009, at 9:04 PM, Lawrence Sica wrote: > > On Mar 9, 2009, at 8:24 PM, Chris Gehlker wrote: > >> >> On Mar 9, 2009, at 3:42 PM, Patrick Coskren wrote: >> >>> We've discussed before how that $10 trillion number is bogus. It >>> includes the balances of all accounts covered by FDIC, that is, the >>> first $250,000 of every consumer bank account in America. The only >>> way it'll be spent is if every bank in America defaults on the value >>> of every savings account. If that happens, we'll have bigger >>> problems. >>> >>> I agree on the point about Federal Reserve secrecy. >> >> >> >> Well said. > > > Well if they start saying who i getting what publicly it will cause a > public panic. I don't agree this should be said in public hearings. > Maybe in private ones, at least for now. One of the big problems > during the great depression was the run on the banks. >
I think, it's just tough shit. It all needs to be public if they intend to use public funds. When the government wants to use my money to bail out a private institution then they damn well tell me who, how much and why. "You can't handle the truth", is not an acceptable excuse no matter their fear of the public's reaction. Might it cause a run on the bank? Perhaps. OTOH, that may be just what SHOULD happen if the bank is near failure anyway and we could save the tax payers money for FDIC coverage. Either way, I'd like to know so I can advise my congress critter which way I think is better. I don't trust them to work, in secret, for MY own good. It's my money after all, not congress's. I do think the freedom of information act is going to win out on this one. On a related note, I saw in a recent poll that 20% of the people think the government "Has it's own money" I almost choked on my gruel. I guess that sort of intelligence is the logical product of an education system that emphasizes how you FEEL not what you THINK, so I shouldn't be surprised.. =c= _______________________________________________ OSX-Nutters mailing list | [email protected] http://lists.tit-wank.com/mailman/listinfo/osx-nutters List hosted at http://cat5.org/
