Like a typical lunatic-left d-crat socialist, bailout bernanke won’t stop recklessly spending our money until he is thrown out of his job.

Thanks to Fox Business and Bloomberg….

Let the worldwide debate on cronyism commence. And not be over until it is over. In 10 years at the earliest.

Mediaite may have another chance to report on the Federal Reserve buying $16 billion in commercial paper from the parent company of MSNBC, and then trying to keep it secret. You know that TINY story that never got mentioned here. The news finally broke last December, and was reported in the Washington Post, but Mediaite covered it up. This was the biggest media conflict-of-interest story of the year, maybe the decade — we are talking $16 BILLION DOLLARS IN SECRET MONEY — yet this site never thought it worth mentioning. Of course, when Rupert Murdoch openly and without and secrecy donates a million dollars to political candidates, that was treated as a huge story. C’mon Mediaite, use this opportunity to go on record by acknowledging the hopelessly compromised ethical position of MSNBC when it slavishly apologizes 24/7 for current administration and also comes with its hat in hand when it needs secret cash infusions.

Just to be clear, when the Supreme Court denies cert petitions it is not affirmatively saying/holding anything. There could be any number of explanations as to why they did not feel compelled to review the Circuit Court’s decision. Maybe this is a little too nitpicky, but it is inaccurate for the headline to read “Supreme Court Says Fed Must Disclose Details About Emergency Lending” because it reads too much into denial.

TeaPartyPatriot said:
Like a typical lunatic-left d-crat socialist, bailout bernanke won’t stop recklessly spending our money until he is thrown out of his job.

Yeah, except Bernanke was appointed by that well known liberal progressive Democrat George Bush and most of the secret lending was done when that socialist liberal Democrat Hank Paulson (the father of giving away tax dollars to his wealthy Wall Street pals) was in charge of Treasury and TARP. The fact that Obama kept Bernanke around only points to Obama’s desire to continue Bush’s failed economic policies.

Seriously, history does matter. It is now fully Obama’s problem and responsibility, but historical inaccuracy is still inaccurate.

felixw said:
Mediaite may have another chance to report on the Federal Reserve buying $16 billion in commercial paper from the parent company of MSNBC, and then trying to keep it secret. You know that TINY story that never got mentioned here. The news finally broke last December, and was reported in the Washington Post, but Mediaite covered it up.

That would be the Fed buying the GE Credit Corp paper, same as it bought GMAC paper and B of A paper and JP Morgan paper and WaMu paper and so on. It was not just GECC that got money. It was also Goldman Sachs, Merrill (later to fail), Citi, and the rest of the thieves on Wall Street.

Singling out the one to GE is somewhat disingenuous and designed to fit an agenda. All of it was done in secret and most of it on a Sunday. Goldman Sachs got a commercial bank charter on a Sunday without the usual investigation and verification. So did GMAC (now known as Ally Bank). On a Sunday. By Paulson and Bernanke so they could funnel TARP money to their pals. The entire thing was done in secret and thank goodness Fox Business went to court to get the records or we would never know.

The truth is that the entire program of TARP, secret lending, buying commercial paper without notification, sending money to foreign banks and subverting capitalism by using my money to save failed financials that ran themselves into the ground by poor management was and is wrong and should never have happened.

So if you want to complain about secret, start at the top with Godman who not only got a direct $25 billion, but also $13 billion in AIG money and then sold their bad paper in secret to the Fed. Follow that with Citi and don’t forget the first GM/Chrysler bailout in December 2008 IN SECRET after Congress said no. That one was done using the secretly newly chartered bank GMAC as the vehicle (no pun intended) to move $16 billion to the auto makers.

SIngling out GE just because they own the fiasco known as MSNBC is just disingenuous to say the least. There was also no reporting on the hundreds of billions to foreign banks or the trillions in secret loans to Wall Street to allow them to repay the TARP money and look good while stealing nonetheless.

Mediaite is not capable of covering things up. Failing to report, sure, but cover up? That is the province of government.

The Fed, like the Administration is run by (or infested with) liberals. They think they are above the law so don’t expect much compliance.

ObamaCare was ruled unconstitutional. Courts ruled that Obama needs to issue permits for gulf drilling. There are other cases where the Left just ignores the courts.

Alz said:
The Fed, like the Administration is run by (or infested with) liberals. They think they are above the law so don’t expect much compliance.

I heavily doubt that the Fed is a liberal organization given that it exists to support the largest – and only the largest – banks, which are hardly liberal leaning groups. It may have been created by a liberal, but the Fed these days is run by mostly conservative bankers.

You could easily say the same thing about the right that totally ignored the Constitution in bailing out Wall Street and violated Wisconsin public records law to pass the collective bargaining measure or relied on an appointed lawyer to rule on the legality of interrogation techniques. Ignoring the law and the courts is hardly the exclusive province of the left. Both sides do the same thing repeatedly.

It would be really easy to label everything currently bad as liberal for the sake of the next election, but the reality is that both sides contribute to the mess and both sides are responsible. Case in point is Florida. We have had conservative Republican led legislatures for years and years and thanks to that we now have a massive deficit, state run/financed property insurance and the easy availability of prescription pain pills. Yet I don’t blame conservatives entirely since liberals have been along for the ride, too.

Until we stop using everything as a prop in the endless campaign passion play, we are doomed to stay stuck in this situation. Instead of spreading blame and pointing fingers, try solutions without the need for gainsaying and answers without the need to condemn the other side.

Keeva said:
I heavily doubt that the Fed is a liberal organization given that it exists to support the largest – and only the largest – banks, which are hardly liberal leaning groups. It may have been created by a liberal, but the Fed these days is run by mostly conservative bankers.

You could easily say the same thing about the right that totally ignored the Constitution in bailing out Wall Street and violated Wisconsin public records law to pass the collective bargaining measure or relied on an appointed lawyer to rule on the legality of interrogation techniques. Ignoring the law and the courts is hardly the exclusive province of the left. Both sides do the same thing repeatedly.

It would be really easy to label everything currently bad as liberal for the sake of the next election, but the reality is that both sides contribute to the mess and both sides are responsible. Case in point is Florida. We have had conservative Republican led legislatures for years and years and thanks to that we now have a massive deficit, state run/financed property insurance and the easy availability of prescription pain pills. Yet I don’t blame conservatives entirely since liberals have been along for the ride, too.

Until we stop using everything as a prop in the endless campaign passion play, we are doomed to stay stuck in this situation. Instead of spreading blame and pointing fingers, try solutions without the need for gainsaying and answers without the need to condemn the other side.

The Fed’s leadership sure seems “liberal”. This QE crap is not conservative. Neither was TARP (which Bush signed and Obama supported and used).

I agree about Wall Street bailouts – big mistake.

As for Madison, you’ve got that wrong. The People voted in November to clean things up like the runaway labor costs. Nationally, the Democrats lost over 400 YEARS of Congressional experience. At the State level, the Republicans picked up over 600 seats.

People are tired of the liberalism – wherever it may lie and in both parties.

The root issue is this is not mere politics but a massive chasm based on the two sides having different belief systems. It’s why everything descends into an argument.

felixw said:
Mediaite may have another chance to report on the Federal Reserve buying $16 billion in commercial paper from the parent company of MSNBC, and then trying to keep it secret. You know that TINY story that never got mentioned here.

Keeva said:
That would be the Fed buying the GE Credit Corp paper, same as it bought GMAC paper and B of A paper and JP Morgan paper and WaMu paper and so on. It was not just GECC that got money. It was also Goldman Sachs, Merrill (later to fail), Citi, and the rest of the thieves on Wall Street.

I assure you that if Goldman Sachs owned a TV news network that had a pronounced political slant while taking $16 billion in secret government money, someone at Mediaite would write a story about it.

Alz said:
As for Madison, you’ve got that wrong. The People voted in November to clean things up like the runaway labor costs.

I didn’t mean to imply that they violated the will of the people. They did not. Elections have consequences and that is how the system works. The people of Wisconsin, based on the vote, wanted the mess cleaned up. I meant that the Senate committee in Wisconsin violated the public records law with regard to the time of prior notification of a public meeting. It may seem a technicality, but at its heart, all law is technicality.

Keeva said:
I didn’t mean to imply that they violated the will of the people. They did not. Elections have consequences and that is how the system works. The people of Wisconsin, based on the vote, wanted the mess cleaned up. I meant that the Senate committee in Wisconsin violated the public records law with regard to the time of prior notification of a public meeting. It may seem a technicality, but at its heart, all law is technicality.

The Legislature can set it’s own rules – as they normally do. Plus, how can a county judge invalidate the actions of a State legislature?

no