The News Behind the News: The Bear/Stearns bailout set the stage for expanding the safety net to all the major financial institutions that were in trouble.
Vern McKinley, author of “Financing Failure” appears in this Segment 1 of a 9 segment interview from the Full Disclosure Network(R) Special Series on the Federal Reserve System.
Allan Meltzer, Ph.D., American Economist, Senior Fellow, Hoover Institute, and author of a three-volume history of the Federal Reserve, explains that banks have been turned into public utilities, and there’s too much emphasis on near-term actions.
Vern McKinley, Policy Adviser to Central Banks tells Full Disclosure how difficult it was to obtain public records from the Federal Reserve regarding the huge Bail-outs of major financial institutions.
G. Edward Griffin, author of “The Creature from Jekyll Island,” notes that the Federal Reserve isn’t part of the federal government, and describes it as a “banana or oil cartel.”
The News Behind the news: The Congress and the public had to be deceived in order to pass the Federal Reserve Act. Watch the segment preview: To watch the full segment please make a donation below. FULL DISCLOSURE® and THE FULL DISCLOSURE NETWORK® are registered trademarks Full Disclosure Network® is a registered trademark for electronic media
B. Scott Minerd believes the Federal Reserve has a clear bias toward reducing unemployment and won’t tolerate a severe economic slowdown, and predicts that for the near term, we’ll continue to see higher asset prices across the board.
Allan Meltzer, Ph.D., American Economist, Senior Fellow, Hoover Institute, and author of a three-volume history of the Federal Reserve, explains that $1 trillion has been added to total reserves, even after reducing reserves by $10 billion per year, and that $2.5 trillion sits idle on banks’ balance sheets.
Allan Meltzer, Ph.D., American Economist, Senior Fellow, Hoover Institute, and author of a three-volume history of the Federal Reserve, describes working with U.S. Senators Sherrod Brown (D-OH), and David Vitter (R-LA) to help write a bill that would downsize banks “too big to fail,” to protect the public and smaller community banks by helping to level the playing field.