Welfare for the rich via the Fed

Why is the Federal Reserve forking over $220 million in bailout money to the wives of two Morgan Stanley bigwigs.

Taibbi has a new article about the shadow budget whereby the Fed shovels billions to the already wealthy with no oversight or apparent ethics. It’s welfare for the parasitical rich, who take much and give little in return. It’s also another example, if any be needed, of the capture of the federal government by the big banks.

If this happened in Russia, we’d just say they were corrupt, right? Ron Paul is correct, the Fed is out of control, overly secretive, and needs radical reform.

  • “Remember when teachers, public employees, Planned Parenthood, NPR and PBS crashed the stock market, wiped out half of our 401Ks, took trillions in TARP money, spilled oil in the Gulf of Mexico, gave themselves billions in bonuses, and paid no taxes? Yeah, me neither.” Joe Morgan’s Beard

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