Accountability sorely needed at Fed Aug 9, 2009
Nearly 200 economists, mostly academics, have signed a petition urging Congress and the executive branch "to reaffirm their support for and defend the independence of the Federal Reserve System as a foundation of U.S. economic stability." ... Finally, the economists declare, "The democratic legitimacy of the Federal Reserve System is well established by its legal mandate and by the existing appointments process. Frequent communication with the public and testimony before Congress ensure Fed... (Athens Banner-Herald)
Immigration: Let's Get Over It Aug 6, 2009
Wouldn't it make more sense to establish a politically independent federal apparatus, like the Federal Reserve System, that would adjust immigration quotas according to the actual and projected ebbs and flows of our economy. The waves of exotic foreigners who poured in during the 1800s and early 1900s were unsettling to Americans at the time culturally, economically, and politically. (Time.com)
Former banker faces fraud allegations Jul 31, 2009
The Federal Reserve System s board of governors issued an order forbidding Jenkins from working with banks or bank-holding companies due to his alleged unsafe and unsound practices, breaches of fiduciary duty, and violations of law in connection with a fraudulent loan he fed to himself. The order alleges that Jenkins knowingly approved a straw-borrower loan that had been stated to be for a customer s personal investments but the proceeds of the loan were transferred to Jenkins, who was... (Washington Business Journal, DC)
Shine some light on what the Fed is doing Jul 28, 2009
The Federal Reserve System is going after the wealth of our country by inflating the money supply. In case the senator does not know, the Federal Reserve System is a privately owned business with the power to regulate the entire money supply. (The Pantagraph newspaper)
Bank of Elmwood faces federal deadline Jul 24, 2009
The in Racine has failed to submit an acceptable capital restoration plan to the Federal Reserve System and now faces an Aug. 29 deadline to take corrective actions, including raising more capital or selling or merging the bank. The Federal Reserve System said on Thursday that it has issued an order for prompt corrective action against Bank of Elmwood, which is undercapitalized under the agency s regulations. (Milwaukee Business Journal, WI)
AEPs Tomasky tapped for Cleveland Fed board Jul 17, 2009
The Cleveland Fed is one of 12 branches in the Federal Reserve System. Reader Comments. (Columbus Business First, OH)
First Business Bank and 1st Pacific Bank of California Agree to Merger Jul 17, 2009
This release may contain forward-looking statements, which are included in accordance with the "safe harbor" provisions of the Private Securities Litigation Reform Act of 1995 and, accordingly, the cautionary statements contained in 1st Pacific Bancorp's Annual Report on Form 10-K for the year ended Dec. 31, 2008 (See Item I -- Business, and Item 7 -- Management's Discussion and Analysis of Consolidated Financial Condition and Results of Operations), and other filings with the Securities and... (PR Newswire)
Economists: Lay Off the Fed Jul 16, 2009
A petition floated by top U.S. economists is urging Congress to reaffirm support for the independence of the Federal Reserve system, saying that the trajectory of the economy and inflation is at risk ... "Calls to alter the structure or personnel selection of the Federal Reserve System easily could backfire by raising inflation expectations and borrowing costs and dimming prospects for recovery," the petition said. (Newsmax)
Obama Wants a Health Care Bill This Week Jul 14, 2009
We've updated CBSNews. WASHINGTON, July 13, 2009. (CBS News)
Banks Cash in On Huge Overdraft Fees Jul 9, 2009
The company does work for banks, credit unions, and the U.S. government, including the Federal Reserve System. Related. (ABC News)
Economics, energy, environment to be subject of four-part seminar Jul 9, 2009
Main learning points will be the creation of money and how the Federal Reserve System functions; the exponential growth function and how it relates to your life; the role energy plays in our quality of life; dealing with the issues facing us in the next 20 years; and developing an action plan for yourself and your family. Kessel has been providing energy-efficient building design and construction in the Sonora area since 1972. (San Andreas Calaveras Enterprise, CA)
Letters Jul 5, 2009
The current efforts to pry open the vaults of opacity and obfuscation buried in the US Federal Reserve system is, of course, long overdue. Created in 1913 to centralize monetary policy, the "Fed" also served to insinuate international banking's tentacles deep into the heart of America's nascent world-dominating financial system. (Asia Times Online)
DOCUMENTS: Statements, testimony, emails related to BofA-Merril deal Jun 26, 2009
Ben S. Bernanke Chairman of the Board of Governors Federal Reserve System. . (USA Today -- Money)
Obama's plan gives Fed a starring role Jun 23, 2009
The origins of the Federal Reserve System lie in the financial panic of 1907, when the United States averted economic collapse only because J.P. Morgan improvised emergency private-sector loans to troubled Wall Street firms. Washington's response was to create the Fed as a politically independent lender of last resort, with the authority to supervise banks. (Herald Online, SC -- Opinion)
U.S., Swiss Complete Tax Treaty Talks Jun 20, 2009
Why won't they expose what the key players and owners of the Federal Reserve System and all private-central-banking do with the immoral loot from indebting nations including the United States. Until that happens, this is just more 'regulation' for the 'monopoly men' to use to go after their competition. (CBS News)
Protesters Stage Somber Rally In Iran Jun 19, 2009
We've updated CBSNews. TEHRAN, June 18, 2009. (CBS News)
The Fed's Police Power Jun 17, 2009
"We propose a comprehensive review of the ways in which the structure and governance of the Federal Reserve System affect its ability to accomplish its existing and proposed functions," the document reads, according to Reuters. The news agency adds, a principal aim of the plan is to have the "Fed become a 'systemic risk' regulator to keep tabs on large firms and emerging financial threats that could hit the entire economy.". (Slate)
Feds approve Regions' $2.5B capital plan Jun 17, 2009
5 billion capital buffer was recently accepted by the Federal Reserve System, according to a statement released late Monday. The U.S. government ordered the Birmingham-based bank to raise the extra capital after results of the stress tests predicted $9. (Birmingham Business Journal, AL)
Treasury lets 10 banks repay $68 billion Jun 16, 2009
The Board of Governors of the Federal Reserve System in early May released the results from its stress test. The regulatory tests were designed to project how the country s 19 largest banks would perform under a variety of economic scenarios by the end of 2010. (Albany Business Review, NY)
Bank of America Names 4 Outside Directors Jun 6, 2009
The largest U.S. bank announced the appointments of Susan S. Bies, a former Federal Reserve System governor and former chief financial officer of First Tennessee National Corp.; William P. Boardman retired executive of Bank One Corp. and Visa International Inc.; D. Paul Jones, former chairman and CEO of Compass Bancshares Inc.; and Donald E. Powell, former chairman of the Federal Deposit Insurance Corp. and former president and CEO of First National Bank of Amarillo. All are in their 60s. (ABC News -- Wire)
Four New Directors Elected to Bank of America Board Jun 6, 2009
Susan S. Bies, 62, a former member of the Board of Governors of the Federal Reserve System and former chief financial officer of First Tennessee National Corporation. William P. Boardman, 67, retired executive of Bank One Corporation and Visa International, Inc.. (PR Newswire)
Red Cross: Cholera To Hit 100K In Zimbabwe May 27, 2009
Getting rid of the Federal Reserve System and the IMF/World Parasites would free Zimbabwe from these British leeches in London. It's amazing how England is absolutely and totally broke, it's currency, the British pound, is not worth as much as toilet paper and yet they have the nerve to pretend like they are better then Zimbabwe. (CBS News)
OceanFirst Financial Corp. Announces Strategic Combination of Central Jersey Bancorp - Enhancing Community Bank Franchise At the Jersey Shore May 27, 2009
Factors which could have a material adverse effect on the operations of each Company and their subsidiaries include, but are not limited to, changes in interest rates, general economic conditions, legislative/regulatory changes, monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve System, the quality or composition of the loan or investment portfolios, demand for loan products, deposit flows, competition,... (Primezone Releases)
Rates likely to stay low for some time: Fed's Kohn May 25, 2009
Reuters Donald L. Kohn, vice chairman of the Board of the Federal Reserve System (L) gestures as he testifies. Related Quotes. (Yahoo News -- Press Releases)
M&T Bank-Provident deal clears last hurdle May 20, 2009
The deal, which will result in the union of two of the Baltimore area s largest banks, had already passed muster with Maryland bank regulators and the Board of Governors of the Federal Reserve System. Provident shareholders approved the merger last month. (Baltimore Business Journal, MD)
Auburn National Bancorporation, Inc. Declares Quarterly Dividend May 15, 2009
The Bank is an Alabama state-chartered bank that is a member of the Federal Reserve System and has operated continuously since 1907. Both the Company and the Bank are headquartered in Auburn, Alabama. (Primezone Releases)
World Watch: Libya Continues World Image Makeover May 14, 2009
That meant that Libya had to install the software economic system CD called the Federal Reserve System and get online for crooks like Goldman Sucks to start looting operations. Now their aim is to create a 'bubble' economy out of Libya, and then once popped, Goldman Sucks will come in and loot that joint. (CBS News)
Obama Seeks To Regulate Derivatives Sales May 14, 2009
Imediately put the entire Federal Reserve System into RECEIVERSHIP and bankruptcy re-organization into a new American Credit-System as Hamiltion intended. If we do these 3 things, then we have hope, if not then we will plunge further and further into a New Dark Age. (CBS News)
Credulity caughtin stress test May 13, 2009
Ten months earlier, on July 16, 2008, and a full year after the global credit crunch had imploded in July 2007, the federal banking and thrift agencies (the board of governors of the Federal Reserve System; the Federal Deposit Insurance Corporation; the Office of the Comptroller of the Currency; and the Office of Thrift Supervision) had issued a final guidance outlining the supervisory. review process for the banking institutions that implement the new advanced capital adequacy framework known... (Asia Times Online)
Stress test: 10 of nations biggest banks need $74.6B in worst-case economic scenario May 10, 2009
That s the conclusion of the Supervisory Capital Assessment Program, released May 7 by the Federal Reserve System. The SCAP study looked at all 19 of the nation s largest bank holding companies. (Houston Business Journal, TX)
Stress test: 5/3, Key need capital May 9, 2009
The Federal Reserve System s Board of Governors painted a mixed outlook for the nation s top banking companies following its so-called stress test of how the institutions would fare amid a deeper economic downturn. Nearly all of the 19 bank holding companies tested, including two based in Ohio, have adequate Tier 1 capital on hand to face an economic downturn, but 10 need to raise more capital to satisfy a more stringent requirement the government has focused on in recent months in an effort to... (Columbus Business First, OH)
JPMorgan survives feds stress test' May 8, 2009
But some of the banks with the largest market shares in Washington state will need additional capital to survive a severe economic downturn, according to the highly anticipated stress test report released by the Federal Reserve system and federal bank regulators Thursday. In total, the Federal Reserve said banks need to raise $65 billion in capital. (Puget Sound Business Journal, WA)
Dad To Madonna: Don't Adopt My Girl May 3, 2009
If you really want to help Africa, come back to the States, lobby Congress to end the IMF/World Parasites and join the throngs of Americans who are trying to end the Federal Reserve System. That's the best way to help Africa, not going over to one these countries and steal babies. (CBS News)
The Last Optimist May 2, 2009
Though the whole, familiar process would go a lot faster if we had a Federal Reserve System as competent as J. P. Morgan's one-man equivalent thereof in 1907. What I'm starting to worry about isn't the great worldwide deflation that's supposed to be the big threat on the horizon, but the great inflation sure to come if government keeps spending money it doesn't have, and using the printing press to finance its mounting debt. (Townhall.com)
Decision gives filibuster proof majority... Apr 29, 2009
The Fix - Specter To Switch Parties. Wall Street Journal 2 panics some New Yorkers. (The Drudge Report)
Capmark loses $1B in 4Q, could face bankruptcy Apr 28, 2009
Capmark also said that it will notify the board of governors of the Federal Reserve System this week of the withdrawal of its application to become a bank holding company. The company s board of directors instructed management to withdraw the application after evaluating the requirements. (Philadelphia Business Journal, PA)
“Atlas Shrugged” Riding High Apr 28, 2009
An alternate view is that well-intentioned government intervention (legal tender laws, artificially lowered interest rates to stimulate the economy, politically motivated encouragement of home ownership, federal reserve system and deposit insurance support for inherently unstable fractional reserve banking practices, etc. removed many of the self-regulating aspects of a truly free market that would have prevented the abuses. (Atlanta Journal-Constitution -- Opinion)
Axelrod: Markets Can Handle The Truth Apr 20, 2009
April 19, 2009 12:55 PM. Axelrod: "U.S. Can Handle The Truth". (CBS News)
Ahmadinejad: Let Journalist Defend Herself Apr 20, 2009
First of all the sanctions are drafted by the private and illegal Federal Reserve System, that's right, the politicians announce sanctions but sanctions mean that a countries money will no longer be exchanged for other currency within the Federal Reserve System. When sanctions happen, then these countries retaliate by seizing foreign property but remember we do it first when we announce sanctions. (CBS News -- World)
Iranian Scientists Clone Goat Apr 17, 2009
A good example of how little by little a nation can ween itself off the illegal Federal Reserve System and use nuclear energy to fuel it's own economic and technological development. This is why the British do not want any country to free itself from the fiat-paper currency of the IMF.. (CBS News)
North Korea Upset Apr 16, 2009
North Korea Boots Nuke Inspectors - CBS News. North Korea Boots Nuke Inspectors. (CBS News -- World)
Bankers vs. Economists Apr 15, 2009
Alan Greenspan, chairman of the Federal Reserve System, was easily the most influential economist of the last quarter-century. His intellectual virtues were many. (Slate)
Apollo Bank gets preliminary OK to launch Apr 14, 2009
Once it raises the required $20 million, Apollo still needs approval from the and the Federal Reserve System s board to begin operations. But, getting on their agendas is a bigger challenge than raising the money, Apollo Chairman Eddy Arriola said. (South Florida Business Journal, FL)
New banks with clean slates doing well in downturn Apr 6, 2009
Banks with excess liquidity lend that money to other banks through the Federal Reserve System s borrowing window. But with the Fed s benchmark rate now between 0 and 0. (Washington Business Journal, DC)
13 comments Apr 4, 2009
But part "(B)" says a "troubled asset" can also be "any other financial instrument that the Secretary, after consultation with the Chairman of the Board of Governors of the Federal Reserve System, determines the purchase of which is necessary to promote financial market stability.". Definition "(B)" allowed then-Secretary Henry Paulson to use TARP funds to purchase ownership stakes in banks rather than the mortgage-backed securities he initially told Congress he intended to purchase. (Human Events Online)
AIG aren't the only ones wasting money Mar 30, 2009
Next we should re-evaluate the purpose of the Federal Reserve System. If we want to preserve our freedom, then we must be willing to work at it. (Bismarck Tribune, ND)
Bold New Powers: Is Big Govt. Back? Mar 27, 2009
The independent regulator Geithner is proposing would be separate from the Treasury Department and could come possibly from the Federal Reserve System. The aim is to end turf wars between the various government agencies tasked with overseeing the economy. (ABC News -- Business)
Higher fees for us, low ratings for Corzine Mar 27, 2009
The Glass Steagall Act addressed that concern in a very broad way: Section 16 restricted commercial national banks from engaging in most investment banking, Section 20 prohibited any member bank from affiliating in specific ways with an investment bank, Section 21 restricted investment banks from engaging in any commercial banking, and Section 32 prohibited investment bank directors, officers, employees or principals from serving in those capacities at a commercial member bank of the Federal... (NJ.com -- Times)
Geithner 'open' to China proposal on currency... Developing... Mar 26, 2009
Ben Smith's Blog: Geithner 'open' to China proposal - POLITICO.com. " "I haven t read the governor s proposal. (The Drudge Report)
Global Association of Risk Professionals Presents European Risk Congress Mar 26, 2009
Roger Cole, Director of Banking Supervision and Regulation, Board of Governors of the Federal Reserve System. Ulrich Bindseil, Principal Economist and Head of Risk Management, European Central Bank. (PR Newswire)
BlackRock Gets Behind Govt's Bad Debt Plan Mar 24, 2009
The new program will use between $75 billion-$100 billion of Treasury funds from the Troubled Asset Relief Program and leverage $500 billion with the potential to expand to $1 trillion of private purchasing power with financing from the Federal Reserve System and the Federal Deposit Insurance Corp.. Using the Fed and the FDIC, the government will leverage private capital by co-investing with the private sector. (ABC News -- Business)
What's Riding On The Latest Bail00004000out? Mar 24, 2009
Put the financial system, namely the entire Federal Reserve System into bankruptyc re-organization. It's the only way. (CBS News)
Most skilled? Why would we reward them? Mar 21, 2009
If the unconstitutional Federal Reserve System (Fed) indeed owns 80 percent of AIG stock, why then does it allow this outrage. Because the members of Fed s board of directors are also most skilled executives and they take care of their own at our expense. (Klamath Falls Herald & News, OR)
Letters to the Editor: Mar 18, 2009
Federal Reserve system is a Ponzi scheme that must end ... We are all being robbed by the Federal Reserve System Ponzi scheme created in 1913 ... To restore sound money backed with gold or silver, Congress should pass legislation such as H.R. 2756 to repeal our nation s legal tender laws and phasing out the Federal Reserve System and the Federal Reserve Note as in H.R. 2755. (Ontario Argus Observer, OR)
Bonuses at AIG draw Hill's wrath Mar 16, 2009
"The government cannot just abrogate contracts. Every legal step possible to limit those bonuses is being taken by [Treasury Secretary Timothy F.] Geithner and by the Federal Reserve system.". Lawrence H. Summers. (Insight on the News)
Bank of Virginia Announces Fourth Quarter and Year End Results for 2008 Mar 14, 2009
These risks include: changes in business or other market conditions; the timely development, production and acceptance of new products and services; the challenge of managing asset/liability levels; the management of credit risk and interest rate risk; the difficulty of keeping expense growth at modest levels while increasing revenues; and other risks detailed from time to time in the Bank's periodic filings with the Board of Governors of the Federal Reserve System, including the Bank's annual... (Primezone Releases)
Unnatural Disaster Mar 7, 2009
Hayek s work, which builds on a theory developed by Ludwig von Mises, finds the root of the boom-bust cycle in the central bank in our case the Federal Reserve System, the very institution that postures as the protector of the economy and the source of relief from business cycles. Looking at the money supply makes sense when searching for the root of an economy-wide problem, for money is the one thing present in all corners of the market, as Robbins pointed out in his 1934 book, The Great... (The American Conservative)
U.K. PM To Congress: Avoid Protectionism Mar 5, 2009
And since 1913 you had JP Morgan create a banking crisis and offered Congress the 'solution' called the Federal Reserve System so you can once again use 'private-central-banking' to control our economy. Don't lecture us buddy. (CBS News)
Ron Paul: 'Get Rid of the Federal Reserve' Mar 1, 2009
Ron Paul, in a speech delivered to an enthusiastic crowd at the Conservative Political Action Conference, said conservatives have to be devoted to and willing to stand by and defend the Constitution, and have the position that it is absolutely necessary to get rid of the Federal Reserve system. . (Newsmax)
Capmark says 4Q loss will be $800M Feb 27, 2009
Capmark also said that it will notify the Board of Governors of the Federal Reserve System this week of the withdrawal of its application to become a bank holding company. The company s board of directors instructed management to withdraw the application after evaluating the financial and other requirements for becoming a bank holding company. (Philadelphia Business Journal, PA)
Glancy Binkow & Goldberg LLP, Representing Investors Who Purchased American Express Company, Announces Class Action Lawsuit and Seeks to Recover Losses -- AXP Feb 21, 2009
On November 10, 2008, the Company won Federal Reserve System approval to convert to a bank holding company, making it eligible for government help under the Troubled Assets Relief Program (``TARP''). The new American Express bank could qualify for up to $3. (Primezone Releases)
Professors discuss economic crisis Feb 19, 2009
The Federal Reserve System was noted as one of these banks. "The Fed has been out there basically discounting all kinds of assets basically trying to conduct an open market of sorts," Gawande said. (The Battalion, TX)
Five Lodi residents face federal charges in $500,000 counterfeiting ring (2468) Feb 14, 2009
wtf wrote on Feb 13, 2009 2:46 PM:" This will probably get the usual trolls to come crawling out from under their rocks; but it's worth taking an objective look at without a knee-jerk reaction.http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2009/02/09/MN2D15J4HD.DTLThe following from "Give Obama a Chance"I am smart enough to know that the fatal flaw in the debt-based Federal Reserve System is that the moment it went into operation more money is owed than is actually in existence.I am smart... (Lodi News Sentinel, CA)
