Video: Kucinich – the Federal Reserve is paying banks NOT to make loans to struggling Americans!

August 2nd, 2009

(C-SPAN -July 21, 2009) – U.S. Congressman Dennis Kucinich (D-Ohio, 10th District) questions Neil M. Barofsky, the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), testifying before the House Committee on Oversight and Government Reform, about interest payments made to banks that keep their TARP funds and other government (taxpayer) bailout money with the Federal Reserve, instead of making loans to struggling Americans (the original intent of the TARP, remember?) The Fed makes generous interest payments to the banks for “parking” their “excess reserves” at the Fed.

You can download Special Inspector General for the Troubled Asset Relief Program (SIGTARP) reports,testimonies and audits at sigtarp.gov. The July 20th, 2009 report, “SIGTARP Survey Demonstrates That Banks Can Provide Meaningful Information On Their Use Of TARP Funds,” is esecially interesting and can be downloaded at
http://sigtarp.gov/reports/audit/2009…

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2 Responses to “Video: Kucinich – the Federal Reserve is paying banks NOT to make loans to struggling Americans!”

  1. Rich Says:

    This is not news! What is news is the fact that these things can now be spoken of openly and no authorities even blink and most of the people of the usa don’t notice or couldn’t even care, not to mention the pretend news “services” i.e. MSM.

    usa

  2. Boogy Woogy Says:

    Seriously, LoL, the “audit The Fed” bill will just be another 9/11 Commission Report i.e government coverup.

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