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Bloomberg Responds To Fed FOIA Appeal, Blasts Bernanke's "Hyperbolic Speculation" Of Economic Collapse

Tyler Durden's picture


The fine folks at Bloomberg refuse to give to the Fed's demands for undisputsed intergalatic domination:

The Board contends that it is serving the public’s interest by keeping all of this information secret from it, claiming that disclosure might harm the borrowers and, therefore, the entire U.S. economy. But the Board has offered no evidence – relying instead on hyperbolic speculation – from which this Court could conclude that such harm was likely to result from disclosure.


The Board’s interests in secrecy are, in fact, aligned with the banks’ interests and are contrary to the public interest. The Board wishes to continue to lend trillions of dollars of public money without oversight or accountability, and the banks wish to continue to reap the benefits of their access to public money without their depositors or shareholders – or the public at large – knowing anything about it.

And lastly:

By contrast, the public has a manifest interest in understanding and evaluating the government’s response to the recent economic crisis, in safeguarding its money, and in knowing whether its government is doling out its money to private entities imprudently. To make matters worse, the public is being denied this basic information even as the Board continues to act on its behalf in providing public assistance to private financial institutions. In order to allow the public to participate in the ongoing debate on the appropriate role of the federal government in alleviating the economic crisis, it should be provided with details of last year’s loans.

Full motion by Bloomberg to deny Fed's appeal below:



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Mon, 10/05/2009 - 18:25 | 89292 naiverealist
naiverealist's picture

I sure hope Bloomberg sets a precedent in this case!

Mon, 10/05/2009 - 20:37 | 89444 NorthenSoul
NorthenSoul's picture

Amen to that!

Considering how slothful and completely depraved* the mainstream media has become in this country, Bloomberg stands out as a REAL journalists' outlet.


*For a few juicy examples related by Scahill (of "Blackwater fame) of how bad it is, see the video here:

Tue, 10/06/2009 - 08:32 | 89825 Anonymous
Anonymous's picture

I dunno - let's not say anything that'll go to J. Weil's head.

Mon, 10/05/2009 - 18:28 | 89295 ZerOhead
ZerOhead's picture

Listen guys...

If Ben knows what's on and off the Feds books... as he certainly does...

And he thinks that it's so bad that if we saw it... that economic collapse would ensue...

Maybe we should just believe him this once and put everybody who had anything to do with that mess where they belong.

Mon, 10/05/2009 - 18:30 | 89301 ZerOhead
ZerOhead's picture

Club Fed Gauntanimo anyone?

Tue, 10/06/2009 - 00:23 | 89655 Miles Kendig
Miles Kendig's picture

Too good of a sopt.  I was thinking of assigning them to Compound AM at FCI Sandstone and let the shovel for awhile.  If Heidi got Food Service AM/Pots and Pans at FCI Pleasanton then those folks sure could handle the fresh air of a crisp Minnesota January or February morning clearing walkways at .12 cents an hour. Their real worth.

Tue, 10/06/2009 - 09:35 | 89891 Anonymous
Anonymous's picture

yes, then turn it over back to Cuba after the club is fully stocked with members.

Mon, 10/05/2009 - 18:45 | 89315 Cognitive Dissonance
Cognitive Dissonance's picture


I respect your comments and I love your picture. That said, exactly who is the "we" you speak of and how exactly will "we" put anyone where they belong when the fall TV season has started and the NFL just finished week 4?

Seriously, do you really think that anyone who might have any power to actually put these people where they belong will ever be allowed to exercise that power without the backing of massive civil unrest in the streets?

Just askin'.

Mon, 10/05/2009 - 19:04 | 89329 ZerOhead
ZerOhead's picture

It's just the meds talking...

Sometimes they scream...       go Bills?

Mon, 10/05/2009 - 19:11 | 89339 chumbawamba
chumbawamba's picture

If the Taser barbs can't hook to your clothing the jolt will be ineffective.  I speculate a thick rubber wetsuit underneath a normal pair of clothing may provide adequate insulation.  Untested.

Molotov Cocktails.

Pepper spray has an anti-dote.  Sudecon is your friend:

More information and a homebrew decontamination recipe can be found here:

Snipers in tall buildings are a riot cop's worst nightmare.  How soon until?

Riot cops have the upper hand primarily because they have the psychological advantage.  They know mayhem is about to occur and that they are fully backed by their "authority" to unleash all their pent up frustrations from being inferior humans intellectually, so they assume carte blanche for destruction.  If most (instead of only some) protestors came to these meet-ups with the intention of getting bruised, battered, and kicking some cop ass, the psychological advantage would shatter like so many riot helmets under the force of a swung lead pipe.  You catch my drift?  Sure they will start shooting, but no revolution ever started without the first shot being fired.  Then it's Game On.

I am Chumbawamba.

Mon, 10/05/2009 - 19:29 | 89357 Cognitive Dissonance
Cognitive Dissonance's picture

Chumbawamba 's been planning for a party.

Tue, 10/06/2009 - 00:25 | 89656 Miles Kendig
Miles Kendig's picture


Looks like he found a cookbook.

Mon, 10/05/2009 - 19:30 | 89360 Anonymous
Anonymous's picture

Holly smokes man, you sound like you mean business...

Mon, 10/05/2009 - 19:46 | 89373 Anonymous
Anonymous's picture

Show up to protests with a motorcycle helmet, lab safety goggles and have your radical well endowed girlfriend wearing the bra gas mask:

I like the previous poster's wet suit under your clothes idea to protect from tasers. Ear muffs (the kind at a firing range) or sponge ear plugs tor the newly deployed sound weapons... and while I can not condone firearms at protests in any way...

Innocent protesters will get slaughtered.

Firearms and violence are more likely to come from FBI paid provocateurs who by the way are the ones smashing windows not protesters...

But small hand held laser pointers maybe an effective tactic.

You need to look at film clips of 60s protesters especially the Chicago Haymarket protests, where protesters showed up with football and motorcycle helmets on knowing the Chicago police were going to fire buckshot into crowds and head crack every one in sight.

The pepper spray antidote along with a canteen of water for tear gas rinsing of the eyes should be standard issue of the new Patriot Economic Freedom Protesters... aka us.

Tue, 10/06/2009 - 09:33 | 89888 Anonymous
Anonymous's picture

don't forget your video camera.
make sure it's small enough to fit in your pocket.
large cameras make easy targets for controlheads.
easy out, quick record, bam, back in the pocket.

Mon, 10/05/2009 - 19:48 | 89376 Lndmvr
Lndmvr's picture

From my hometown paper,

"The new ordinance will go into affect after it meets final approval from city council, but that doesn’t mean the zoning administrator will be patrolling the streets searching for signs that aren’t up to code. “Those in violation immediately, I will start communication with and those in violation five years from now, we will try to give advance warning at some point,” Wright said. “All property/business owners have the responsibility to be aware of what’s going on. There’s been a lot of publicity over the years, there’s no reason people shouldn’t be aware of it already.”

Wright said the new chapter in the code of ordinances isn’t entirely new, but rather a combination of rules and regulations established by ‘zones’ or ‘areas’ designed to address the entire town of Red Oak.

Some of the other signs listed as ‘prohibited’ include: garage sale signs, flashing lights, portable signs, vehicle signs, revolving signs, swinging signs, fence signs, balloon signs and animated signs. “The public needs to be aware that temporary signs will not be allowed on any utility or sign posts,” Wright said. Billboards will also no longer be permitted within city limits.

Penalties will fall under the municipal code, which could mean up to a $750 fine per violation.

Some signs will be exempt such as public agency signs, flags and emblems, art displays and seasonal decorations."

Wont even be able to hold a protest sign against the sign law. How stupid are people?

Mon, 10/05/2009 - 19:58 | 89388 ZerOhead
ZerOhead's picture

Stupid like a fox...

Best just to use wet tee-shirts to really get a point across...  or two.

Mon, 10/05/2009 - 19:51 | 89378 arnoldsimage
arnoldsimage's picture

chumba... funny you should mention molotov cocktails. when i was watching all the videos on g20 riot police bootstompers, i was thinking... man if those protesters all had molotovs, how sweet would that be.

Mon, 10/05/2009 - 20:46 | 89461 chumbawamba
chumbawamba's picture

Exactly.  What's wrong with these idiots?  I watched video for the G20 protests and was aghast at how docile the "protestors" were.  Some kid was getting arrested and a couple people stood around asking the cops, "Why are you arresting him?  What did he do?", over and over.  Wow, that's really helpful.

Another video is some kid filming a cop asking him if he could ask him a question in this meek little stutter, with the cop just glaring back at him with his best Terminator 2: Judgement Day stare.  Ask if you can ask him a question?  Mother fucker, just ASK him a mother fucking question.  And don't just ask him a question, DEMAND SOME MOTHER FUCKING INFORMATION FROM YOUR PUBLIC SERVENT.

Kids these days are PATHETIC.  It's time to get out there and fuck shit up.

When it's game mother fucking on it will be GAME MOTHER FUCKING ON.

I am Chumbawamba.

Mon, 10/05/2009 - 20:59 | 89482 Village Idiot
Village Idiot's picture

Game On, Bitches.

Mon, 10/05/2009 - 21:30 | 89513 ZerOhead
ZerOhead's picture

Wrong approach guys...

No point arguing with a chair... or pig for that matter.

Think farther up the food chain. And think pressure... not violence. They will use the 'violent threat' you pose to take away everybodys liberties... and they have toys that you couldn't dream up.

Don't take the bait.

Mon, 10/05/2009 - 22:01 | 89553 chumbawamba
chumbawamba's picture

You think what we're living under now is freedom?  Do you know how many videos I've watched this year of cops tasering people at traffic stops?  Do you know why we're fighting two three wars (Pakistan) right now?  Me either.

Are you lame?

I am Chumbawamba.

Mon, 10/05/2009 - 22:16 | 89568 ZerOhead
ZerOhead's picture

Hey Chummy...

Just telling you that the best weapon around has always been your brain. Study the adversary and find the weak points. Never signal your intentions. And no Chummy violence is not the solution against our 'overlords'. Not yet anyway.

Tue, 10/06/2009 - 09:27 | 89879 Anonymous
Anonymous's picture

"Never signal your intentions."

especially on websites that are scoured daily by individuals in the executive branch of the federal government.

and some wonder why it was so easy for the squid to swallow the bears this summer.

Mon, 10/05/2009 - 22:58 | 89590 Village Idiot
Village Idiot's picture

You speak the truth, ZerO.  I am speaking in extremes - as are probably many.

Mon, 10/05/2009 - 21:42 | 89534 arnoldsimage
arnoldsimage's picture

chumba... this is what Should have happened at g20 protests.

Mon, 10/05/2009 - 21:46 | 89536 arnoldsimage
arnoldsimage's picture

keep fucking with us gangstas. you're gonna get yours real soon.

Mon, 10/05/2009 - 22:04 | 89555 chumbawamba
chumbawamba's picture

I love that video.

I am Chumbawamba.

Tue, 10/06/2009 - 03:35 | 89740 Cognitive Dissonance
Cognitive Dissonance's picture

When the rats understand they out number the rat keepers, things will change. But not until then.

Mon, 10/05/2009 - 22:13 | 89565 Anonymous
Anonymous's picture

so how many buddies have you lost. with your tactics I would guess quite a few.


Tue, 10/06/2009 - 04:13 | 89755 Anonymous
Anonymous's picture

Chumbawamba, if you are really serious, then use a mixture of kerosene with Miracle Gro as the center of a device with a combination of steel bearings and Vaseline mixed with more kerosene as the outer later. A simple catapult will give you an effective range of several hundred yards. Highly likely to be noticed even by an investment banker.

Mon, 10/05/2009 - 20:01 | 89393 Anonymous
Anonymous's picture

i have new respect for you....the biggest problem with
this entire financial terrorist attack of the
oligarchical axis of evil and the banksters is that
people come to these sites to whine and mew about
what is wrong but never lift a finger not even to
call their congresscreep...i have told my creep
what i think of pelosi and used language which would
make most of you blush and probably not get past the
censors here....

but, to the point of being ready to rumble that is
exactly what is is time to take these
thugs on in the streets, in congress, courts,
and anywhere else battle can be waged and if a few
folks like police scum die then too bad....

we live in a nazi state and believe me the dhs
monitors sites and comments like this because it
is warning of right winged insurgency...

these nazi fucker-pukes can rot in eternal hell...and
it's time to start fighting....

Mon, 10/05/2009 - 20:20 | 89427 Anonymous
Anonymous's picture

Start with Blankfein first....then maybe Dimon, then me, once one of these a-holes go down, nobody would want to mess with the public coz we are 99% of the population

Mon, 10/05/2009 - 20:51 | 89474 chumbawamba
chumbawamba's picture

I practice what I preach.

I'm filing mail fraud charges against the Treasurer of an adjacent county for sending me a collection notice for a fine on an offense for which I've not been convicted.  I go to court to fight that, but in the meantime the Treasurer committed mail fraud.  FUCKING OOPS.

I am currently taking on the CHP over their officers' epidemic ignorance of the law.

I am filing a complaint against the punk courthouse security goon who wouldn't give me his badge number upon demand.


Too many people for too many years have been too god damn docile.


I am Chumbawamba god damn it.

Mon, 10/05/2009 - 21:31 | 89496 Village Idiot
Village Idiot's picture

So I know that some people on this site aren't exactly "fans" of Michael Moore.  But I went and saw "Capitalism: A love Story" this weekend, and I'll tell you what - Moore is calling for revolution.  I walked out of there feeling big time empowered. 

Some guys go through their whole life, fighting against something that they can't quite put there finger on.  I have found a good and noble cause - America.  Point me in the right direction, cuz this dude is ready. 

Someone recently said that "the difference between activists of the 60's and activists today boils down to one thing - money".  today's activists have resources - some more than others - but considerably more than the previous movement had, to affect change in our government.

Mon, 10/05/2009 - 22:24 | 89572 chumbawamba
chumbawamba's picture

Maybe that's why this generation isn't making any progress: we don't know how to fight.  We've had it too good growing up.

The only direction you should be pointed towards is the one your mind and your heart takes you.

I'll let you in on a little secret:

I drive when I'm high.  I even take a beer along from time to time.  And a lot of times I don't wear my seatbelt.  Why?  Because I can.  And I can do it without ruining someone else's driving experience or damaging someone else's property.  I'm responsible.

I don't pay my taxes.  Why?  It's not because I don't believe in paying my fair share; I do.  I just don't believe in funding endless wars of less than zero value and devoid of any meaning that profit an evil few and kill my fellow humans and stain my soul with a collective guilt of which I did not ask to be a part.  I also don't believe in paying for the mistakes of well-to-do bankers and finance faggots who don't want to take a loss.  I don't believe in putting a noose around my neck and pulling it tight.  I'm not suicidal.

I am also not an imbecile! (Thanks, Gerald Celente)

I don't pay my credit cards anymore.  I'm delinquent on all of them, half a dozen or more.  Why?  It's not because I don't believe in paying off my debts; I do.  But I don't think it's right that I should have to pay a bank that got bailed out with my tax dollars for the privelege to treat me like an ATM machine and to arbitrarily raise rates and fees on me when times got tough for them as a result of their own greed and utter stupidity.  I had perfect credit.  I played the game.  They changed the rules.  So, they got their bail out, I got mine.  Two can play at that game, fuckers.

I practice what I preach.

I am Chumbawamba.

Mon, 10/05/2009 - 22:52 | 89581 MinnesotaNice
MinnesotaNice's picture

"I drive when I'm high.  I even take a beer along from time to time.  And a lot of times I don't wear my seatbelt.  Why?  Because I can.  And I can do it without ruining someone else's driving experience or damaging someone else's property.  I'm responsible."

Chumbawamba... do you know how many 'dead' people I have worked on as a Paramedic who were 'responsible impaired drivers' not wearing their seatbelts just like you... and how families who were killed and seriously injured by 'responsible impaired drivers' just like you... I once had a man who was hit head-on by a "you" and spent the last few minutes of his life trapped in his crumpled car begging for me to save him so he could be with his family... he died before we could get him out.

The world simply does not revolve around you... no matter how much you wish it would.

Tue, 10/06/2009 - 00:15 | 89649 chumbawamba
chumbawamba's picture

Yeah, whatever.  Tell that to the guys you have to scoop out of the tin cans.  I'm not they.

I am Chumbawamba.

Tue, 10/06/2009 - 08:00 | 89817 MinnesotaNice
MinnesotaNice's picture

Until you are...

Mon, 10/05/2009 - 23:14 | 89605 ZerOhead
ZerOhead's picture

Owe the banks $10,000 and don't pay - It's your problem

Owe the banks $10 million and don't pay - It's their problem

Seatbelt... hey it's your life.

Buzzed? Better not get too buzzed. 

Law of averages eventually catches up with you and tasers are a bitch! 

Mon, 10/05/2009 - 23:17 | 89607 MinnesotaNice
MinnesotaNice's picture


Tue, 10/06/2009 - 07:39 | 89807 blackebitda
blackebitda's picture

just a question...while doing all these things..are you gainfully employed in some form or fashion? 

Tue, 10/06/2009 - 13:38 | 90256 Cognitive Dissonance
Cognitive Dissonance's picture

He's employed as Chumbawamba.

Mon, 10/05/2009 - 20:01 | 89395 Anonymous
Anonymous's picture

Most people on this site won't be taking it to the streets. Readers here are the academic types who will generate (are generating) the propaganda that will incite sufficient anger to trigger insurrection. Your information is nonetheless useful for self-defense situations we might encounter.

Probably the most effective tactics will involve striking fear into the hearts of the elite. That doesn't need to be a public spectacle (modern protests are largely ineffective anyway, witness Iran election protests, or the Iraq war protests). I can assure you that European financiers are petrified of the semi-comedic episode of the "Geritol Gang".

Got to hand it to the old bastards, they've got cojones. I'm confident that there have been quiet policy changes and concessions based on this event alone.

Tue, 10/06/2009 - 21:05 | 90951 ZerOhead
ZerOhead's picture

Feel good story of the week... Thanks

Tue, 10/06/2009 - 03:57 | 89748 Anonymous
Anonymous's picture

Chumbawamba, I fear you are on the path that must be followed. Before we take our rooftop positions (I happen to own a 30-06 rifle whose sights range from 200 - 2000 meters) I believe we must try peaceable solutions first.

We need, and I believe must have, an alternative choice to the current political parties. I am too old and not suited to take the lead. I am prepared to help whomever first appears who is honest, open, and posesses high integrity. I was mistaken in believing Obama to be this person.

My ancestors fought to eliminate British rule, then later ones died in a futile attempt to escape the rule of the central government. It would be an honor to join them.

Gripping about TPTB leads nowhere. First political action. If this fails, the the Declaration of Indenpence prevails.

I am free.

Tue, 10/06/2009 - 04:43 | 89767 Anonymous
Anonymous's picture

Things might end with a whimper, as people with big money at stake take their money elsewhere.

Mon, 10/05/2009 - 18:52 | 89320 Bubby BankenStein
Bubby BankenStein's picture

There is a nice new prison in Hardin, MT that has some 450 berths available.  Not nearly enough space, but a good start.

Mon, 10/05/2009 - 22:47 | 89585 Anonymous
Anonymous's picture

The one bought by Blackwater, I mean Xe, I mean the APF (American Police Force)?

Mon, 10/05/2009 - 23:47 | 89626 Anonymous
Anonymous's picture

You mean Blackwater, I mean, Xe, I mean, the "American Police Force"?

get screwed

Mon, 10/05/2009 - 20:11 | 89412 albion402
albion402's picture

Right on...toss their butts in the pokey!

Tue, 10/06/2009 - 03:39 | 89741 Anonymous
Anonymous's picture

Zero, I agree. Ben is right. Any company he is unwilling to disclose information about should be viewed as likely to fail. We should remove any deposits from them and avoid doing business with in the future. Starve the beast!!

Mon, 10/05/2009 - 18:29 | 89299 Anonymous
Anonymous's picture

The US people should withold their taxes until they find out where it is being spent!

The situation is like treating grown up people like 2 year olds, saying Mummy and Daddy know best and we will tell you when you are older, you are too young to understand.

Mon, 10/05/2009 - 19:30 | 89347 Cognitive Dissonance
Cognitive Dissonance's picture

Overheard at the bar.

You mean like, civil disobedience? Not pay my taxes? Are you crazy, that's the IRS you're talking about. Besides, it's unpatriotic not to support your country when it needs you. I don't like them banks getting bailed out any more than the next guy. But I don't want no trouble.

Hey, I'm all for signing petitions or maybe even sending a letter to the editors but doing something that might just get me in some trouble? I got a wife and kids damn it.

If my boss finds out I'm messing around with protests and stuff, he'll fire my ass. And I don't want no police cruisers pulling up to my house. What will the neighbors think?

That's just crazy talk, dude. Crazy talk with a capital K.

Mon, 10/05/2009 - 20:12 | 89414 Anonymous
Anonymous's picture

Its completely legal to not pay taxes if you don't have a job to earn any money. 20% of Americans are already participating in the "tax-revolt."

Mon, 10/05/2009 - 21:17 | 89503 Village Idiot
Village Idiot's picture

That guy will be good fodder.

Mon, 10/05/2009 - 21:23 | 89509 Oso
Oso's picture

inciting violence makes you no better than the ayatollah's.  CD, i agree with you 100%.  the chechyans have been fighting for how long? the kurds?? the Irish???  the kashmiris??? the (insert one of a billion different people who have been trying to use violence to get out of things).


we are not at that point.  politicans want their jobs, so make it so they fear losing them.


you guys want to change things?  go to the townhall meetings and teach the people about the fraud that is being committed.  u saw the anger with healthcare.  if the people knew they were being robbed a 100x over, you dont think the politicians wouldnt act immediately? 


you dont need violence.  you need understanding.


although, i am surprised that there havent been mass protests in front of the NYFed, or on Wall Street itself.  why hasnt a peaceful mob made it impossible for the bankers and bureaucrats to get to work???  If they cant work, they cant perpetrate the fraud.

Mon, 10/05/2009 - 22:27 | 89573 chumbawamba
chumbawamba's picture

You don't understand.  It's all one fight, and you're about to join it.

But I agree, go to townhall meetings and raise a ruckus.  Not in a "death panel" kind of way, but speak out, and tell everyone there you're mad as hell and you're not going to take it anymore.  And mean it.

But when they close the townhall, be ready to start fighting with your fists, because words will no longer work.

I am Chumbawamba.

Tue, 10/06/2009 - 01:35 | 89639 Miles Kendig
Miles Kendig's picture

Chumbawamba, the fact is Oso does & has, as have many others.  It takes all sorts to make this rickety railroad work my associate.  Best to remember it.  I know what you are saying and so does OSO I am sure.  Just as we need teachers and soldiers..... We need the freedom to operate.  I do appreciate your DOJ-BOP approach to things when your thrust is that all staff respond and are CO's first.  Both are valid big 60. Remember to have some faith & keep your powder dry. Chances are excellent we will meet each other on the high ground. After all, we already possess it and it would be a shame to sacrifice it.

Mon, 10/05/2009 - 22:42 | 89579 Gilgamesh
Gilgamesh's picture

If you think Ben is cranking up the printing presses, he has nothing on the IRS.  The amount of brochures full of propaganda trying to dismiss tax protestors is crazy.  They may single-handedly be trying to keep the USPS fully employed, while trying to match their number of workers.

Also, I'm convinced that a big chunk of the stimulus money not spent Federally ended up being spent on overtime for Speed Traps and doubling the amount of IRS collection agents.

Mon, 10/05/2009 - 23:49 | 89628 Anonymous
Anonymous's picture

just give him 4 months when the boss fires him anyway.

Mon, 10/05/2009 - 23:55 | 89630 Miles Kendig
Miles Kendig's picture


Lemmings at play to a T.  Excellent CD. No wonder participatory democracy enjoys the tremendous success it has. The simple truth CD expresses enables almost anyone to see which other societies citizens have said the very same things and at which points in their development.

Overheard at the Bar sounds like got it at the bathroom...

Screen Some Rot!  Screen Some Rot!

Mon, 10/05/2009 - 18:37 | 89304 Anonymous
Anonymous's picture

anyone care to comment on the headline on drudge "ARAB STATES LAUNCH SECRET MOVES WITH CHINA, RUSSIA, FRANCE TO STOP USING DOLLAR FOR OIL TRADING... DEVELOPING" what would this do to us the dollar and the markets???

Mon, 10/05/2009 - 18:40 | 89308 deadhead
deadhead's picture

President Obama....Bernanke is YOUR guy now and he is saying "screw you" to the American people and he refuses to be transparent, a concept that was the hallmark of  your campaign. 

Your solicitor general, in a direct, double teamed "screw you" to the American people, has said that the Obama administration, YOUR administration, directly agrees with the Fed and will not support transparency, and has given the legal okay to continue to fight Bloomberg's request for information as to how the Fed is handling our dollar.

How the heck are you reconciling this Mr. President?  The only one of your wall street based team that isn't a part of these shenanigans is should listen to him. 

Mon, 10/05/2009 - 20:06 | 89404 Anonymous
Anonymous's picture

i got news for you - all that talk about transparentcy
was horse shit shoveled out to ignorant moron
voters - the same stupid shits who believe that
the kenyan-indonesian citizen is a usa citizen...

i am sorry but the iq level in general is too low
if you think that an appeal to transparency is a
material argument of substance....

volker is as corrupt a hack as anyone else....

i got news for you, obama, volker, and bernanke are
part of one cohesive team...and hitting those
guys is running down a rabbit hole....

i admire your spunk but you need a new strategy
and new target....

Tue, 10/06/2009 - 00:56 | 89678 Assetman
Assetman's picture

Great post, deadhead!

The current Administration better have a really good explanation ready on why they support the Fed's efforts to conceal information from the American public.   I get the sense once the truth starts coming on this coordinated sham, all hell will break loose.

The FOIA resonse from Bloomberg is great.  The important point to emphasize is that-- no matter what is said-- the Fed ultimately serves its member bankers (and not the general public) in its actions.  If the courts cannot manage to side with the public interest in this instance-- and it should be a layup-- we are in for a world of chaos.

Tue, 10/06/2009 - 08:48 | 89839 deadhead
deadhead's picture

the Fed ultimately serves its member bankers

yes, and as you know, most americans have no clue.  The MSM needs to point this out.

Mon, 10/05/2009 - 18:41 | 89312 Cistercian
Cistercian's picture

 We must keep our heavily conflicted and flagrantly illegal behavior in the dark.

   Or we will crash the system.


 Gee, these criminals are really swell, huh? For the sake of the truth, just give us the information....then we can decide if it merits the firing squad for treason or merely a looong stay in prison.


 Or you can deny us access until the system craters completely , and then the unruly mob will have a go at you.

Mon, 10/05/2009 - 18:44 | 89313 ghostfaceinvestah
ghostfaceinvestah's picture

I stand by my prediction that Bernanke will be the first to be hung as a traitor during the next Revolution.

Mon, 10/05/2009 - 19:41 | 89369 pigpen
pigpen's picture

Ghost agreed. Time to make Bloomberg's quote go viral.

Mon, 10/05/2009 - 19:50 | 89377 Argos
Argos's picture

Guillotine worked really well in France if I recall correcty.  Much faster.

Mon, 10/05/2009 - 20:06 | 89406 Anonymous
Anonymous's picture

and i volunteer to hang the evil peice of shit...

Tue, 10/06/2009 - 02:00 | 89712 MsCreant
MsCreant's picture


How did it ever get this way?

We didn't make this sh!t. We inherited it and perpetuated it because we did not understand and we thought we were benefitting.

Mon, 10/05/2009 - 18:46 | 89317 Anonymous
Anonymous's picture

As in all things finance, this is just yet another confidence game. Say tomorrow the Fed opened their books entirely, and it was to show that it is one big printing press feeding a gigantic black hole, what would change? Would the sheeple give up working? Would they stop paying taxes? Would they march on Washington/Wall St?

Who cares if we audit the FED? Seriously, what would it change? Wouldn't it be akin to lifting up Ru Paul's skirt just to confirm what one already knows?

Mon, 10/05/2009 - 18:47 | 89318 D.O.D.
D.O.D.'s picture

Bloomberg is now the second coolest financial news source... ever....

Mon, 10/05/2009 - 18:49 | 89319 Anonymous
Anonymous's picture

Well, if things don't work out for the Fed at this level, there will always be a wise Latina just waiting to agree with Ben and Tim's point of view later on.

Mon, 10/05/2009 - 21:18 | 89505 Village Idiot
Village Idiot's picture


Mon, 10/05/2009 - 23:42 | 89623 Anonymous
Anonymous's picture

Senora Guantanamo

Mon, 10/05/2009 - 18:55 | 89322 perpetual-runner-up
perpetual-runner-up's picture

anyone know anything about this headline from drudge?




Mon, 10/05/2009 - 18:59 | 89327 ghostfaceinvestah
ghostfaceinvestah's picture

Don't know if it is true, but that has been another of my predictions - one day we will wake up and discover a major oil producer will no longer accept USD for payment of oil.

Mon, 10/05/2009 - 19:18 | 89348 VegasBD
VegasBD's picture

same here, waiting for this to refesh. cant find any info on it.

this is bad. like, really bad. sudden stop type stuff. didnt expect it so soon.

Mon, 10/05/2009 - 19:22 | 89351 ghostfaceinvestah
ghostfaceinvestah's picture

C'mon VegasBD, YOU didn't expect it so soon?  You of all people have been expecting something like this for at least the past few months that I have been reading your comments.  I would guess that of all people, you are one of the most prepared.

I hope to hell this is true.  Bring it on, I am more than ready.  Almost NONE of my wealth is in USD.

Mon, 10/05/2009 - 19:27 | 89356 deadhead
deadhead's picture

i read the article a little while ago.

wonder if benny needs to rally the dollar just a bit quicker now than may have been planned?  also, we got a shitload of treasury toiler paper to unload this week.



Mon, 10/05/2009 - 19:29 | 89359 Careless Whisper
Careless Whisper's picture

Anyone giving odds that the vampire squid is behind this, or should I say will suck in 10 or 20 billion on this (payable in a basket of euros & gold thank you).

Mon, 10/05/2009 - 19:44 | 89371 VegasBD
VegasBD's picture

Sooner than expected, not sooner than planned for.

As happy as Im going to be to be proven right to family n friends that been calling me crazy the last couple years, its gonna be shitty for them. And i have a feeling when it gets really bad any of them within driving distance are gonna show up at my house...

But still, this is sobering. This shit is really gonna happen.


Mon, 10/05/2009 - 19:34 | 89364 VegasBD
VegasBD's picture

Here it is. Arab states officially dropping the dollar

Mon, 10/05/2009 - 20:04 | 89400 Argos
Argos's picture

I don't think that was an "official" announcement.  And don't forget what happened the last time oil went way up in dollars.  There were food riots all over the world.  What, something like 25% of the oil we use here is to grow and transport food.  Oil goes to $300, the Middle East will starve.  Plus they will wipe out the value of their dollar holdings.

Mon, 10/05/2009 - 20:57 | 89479 deadhead
deadhead's picture

it's probably some more pressure to prop up the dollar for a little bit....

Tue, 10/06/2009 - 03:10 | 89732 Anonymous
Anonymous's picture

They can wipe out their dollar holdings and brings us down for a much smaller net cost than we have sent in Iraq, not to mention the loss of life.

Mon, 10/05/2009 - 19:30 | 89362 jdoo
jdoo's picture

While I can understand the motivations of the oil producers, and certainly russia and china, to remove the dollar from the oil trade, I have a hard time reconciling that potential action against the significant US military presence in the region.

Mon, 10/05/2009 - 20:39 | 89449 Anonymous
Anonymous's picture

Do you think the US can afford the multitude of wars that it would spawn? Not only physical combat but trade wars and China dumping Treasuries?

Mon, 10/05/2009 - 20:39 | 89451 Translational Lift
Translational Lift's picture

significant US military presence in the region......

Are you kidding me....bamma has been pulling his pud since August when, his hand-picked, Gen. McChrystal first asked for additional troops in Afganistan.  He is unwilling to support the troops in an active area of conflict......he's.....uh.....considering his options/new strategy.....

Mon, 10/05/2009 - 22:17 | 89569 Anonymous
Anonymous's picture

How many troops are in Afghanistan now. How many died today?

Tue, 10/06/2009 - 08:37 | 89831 Translational Lift
Translational Lift's picture

Typical POS hiding under the rock called Anonymous.   How many died today?  If the troops had the proper troop level and support you would be asking how many taliban died today.  This is the war bamma wanted, this is the general bamma wanted, given the way bamma is managing (sic) things this will be bamma's Viet Nam.  Ask me how I know......

Mon, 10/05/2009 - 19:05 | 89333 Anonymous
Anonymous's picture

Waiting for details myself on this one - curious as to what's going on...

Mon, 10/05/2009 - 18:59 | 89326 Careless Whisper
Careless Whisper's picture

So what happens when the Fed loses in Court and they still don't give up the info? Contempt of court and a fine?

Mon, 10/05/2009 - 19:11 | 89340 waterdog
waterdog's picture

They will appeal.

Mon, 10/05/2009 - 19:25 | 89353 ZerOhead
ZerOhead's picture

An appeal sounds appealling. But things will probably follow this line of reasoning...


Knock knock...

Who's there?


Eisenhower who?

Eisenhower late for the shredder party down at the Fed.

Mon, 10/05/2009 - 19:29 | 89358 deadhead
deadhead's picture

actually, that was pretty damn funny zero!

i got a knock knock for you....  You have to start, ok?  you say "knock, knock"


Mon, 10/05/2009 - 19:34 | 89365 ZerOhead
ZerOhead's picture

knock knock...

Mon, 10/05/2009 - 20:01 | 89394 ZerOhead
ZerOhead's picture

Damn those meds...

Mon, 10/05/2009 - 22:31 | 89575 deadhead
deadhead's picture

knock knock...

Who's there?

Mon, 10/05/2009 - 23:41 | 89622 Miles Kendig
Miles Kendig's picture



Mon, 10/05/2009 - 19:04 | 89332 Thoreau
Thoreau's picture

kudos to bloomberg; their retort is a firm slap at uncle sham.

Mon, 10/05/2009 - 19:13 | 89344 dot_bust
dot_bust's picture

How do we stop the Fed from appealing to the Supreme Court? The Supremes would
rule in their favor.

Mon, 10/05/2009 - 19:16 | 89346 chumbawamba
chumbawamba's picture

Guns will take care of that.

I am Chumbawamba.

Mon, 10/05/2009 - 19:44 | 89363 Careless Whisper
Careless Whisper's picture

Oh dats not good.

Mon, 10/05/2009 - 20:39 | 89450 chumbawamba
chumbawamba's picture

It's in the Constitution.  Read it.

I am Chumbawamba.

Mon, 10/05/2009 - 21:29 | 89510 Village Idiot
Village Idiot's picture

They sure can.  1mm firearms sold nationally, in the month of August - slow month.  You want to see a different kind of American, go hang out at your local gun range - all types, all ready to go.  These people have their radar up - and it's telling them to be ready.

Mon, 10/05/2009 - 21:35 | 89527 Translational Lift
Translational Lift's picture

Just about everyone I know has purchased at least one gun....male, female, young, old............correctomundo....the radar is up.....

Mon, 10/05/2009 - 20:04 | 89402 NorthenSoul
NorthenSoul's picture

THe SCOTUS will rule in favor of the Fed, if, and only if they absolutely wish to be confirmed as the worst Supreme Court edition since the Jim Crow decision.

Of course, they have life tenure and all that. But the SCOTUS derive its authority in part on its perceived legitimacy, which is already badly damaged.

I may sound a bit extreme here, but I sincerely think a decision in favor of the Fed could precipitate a Constitutional crisis: How could the SCOTUS justify such a decision without resorting to gross sophistry and purely ideological arguments is beyond me.

If not a crisis, then we would have a situation where the American people would be justified to include the Court in the "bought and paid for" crowd.

And that could spell big troubles down the road. There is already a deep distrust of Washington and the financial industry, the mainstream media confidence is already deep in the sewer. Add to that the Supreme Court, and you've got all the ingredients of future, hmm, shall we say, non-conventional social movements?


Bottom Line: SCOTUS should be careful here and look at the facts of the case...for a change.

Mon, 10/05/2009 - 19:15 | 89345 chumbawamba
chumbawamba's picture

Gold+14 bitches!

While I farted around on the internet all day, I became 14 dollars more wealthy in Federal Reserve Note terms.

When the US senator to gold ratio reaches 1 then I'm buying.

I am Chumbawamba.

Mon, 10/05/2009 - 20:13 | 89416 cocoablini
cocoablini's picture

Gold's real price hasn't changed. It's staying pat while the dollar slides off. Celebrating gold going up in nominal value is moot unless you have the actual bullion in your hot hands

Mon, 10/05/2009 - 20:41 | 89456 chumbawamba
chumbawamba's picture

Uh, you don't get it.  You price gold in dollars.  That's fine.  To each his own.

I price dollars in gold.  Without gold, there is no money, just paper, and promises (broken).

I don't have any bullion in my hot hands at the moment.  I don't walk around with that shit, fool!

I am Chumbawamba.

Mon, 10/05/2009 - 19:46 | 89374 Anonymous
Anonymous's picture

The Fed get a fine?

Oh so how much will hurt? Add a few gazillions of trillions to a few more huge number that hasn't yet been invented and they will say...

you want fries with that?
Here's your order, freshly rehashed out of tonnes of toilet roll and waste newspapers from sewage filters,

have a nice day......

Mon, 10/05/2009 - 21:09 | 89494 You Cant Handle...
You Cant Handle the Truth's picture

"National Security" is the backdoor password to the Constitution.

Except this time it's not the "War Against Terror." No, this time it's the "War Against The War Against Fractional Reserve Banking.

Mon, 10/05/2009 - 21:32 | 89522 Anonymous
Anonymous's picture

well i guess the banks are not as sturdy and stress tested as we were led to believe, were they mr bernquacke?

i can't imagine healthy, strong, recovering banks being so fragile that a bit of news about the people's money could cause such duress....especially since you lifted all of their putrid assets off their books...

i guess ignorance is bliss and sheeple should just follow you around as you play pied piper of hamelin...but can you play as well as Crispian St Peters, bitch?

and now that little boy is being challenged he throws a terrible temper tantrum....will mommy cave? time will tell...

i think our economy and world will survive whatever disclosures your crooked commrades are keeping from us....

ignorance is such a blessed state is it not? pixie dust, unicorns, and bullshit make a delightful tonic...

Mon, 10/05/2009 - 21:55 | 89545 digalert
digalert's picture

Does anyone truly believe the FED is acting in the public interest? The rest of the world doesn't think so.

Tue, 10/06/2009 - 05:25 | 89775 Anonymous
Anonymous's picture

Why don’t you FINALLY nationalize not one bank / bank holding co. SIV, SPV etc but - the FED? And then return all that "collateral" to the sender? A CLICK, sealed with the kiss...

What exactly - may I ask - are you waiting for? More of the same? An audit? This is ridiculous.

ONLY THEN can one "supervise" banks. Not before!

Tue, 10/06/2009 - 08:42 | 89833 gossamer
gossamer's picture

Exposing the Fed's balance sheet is the number 1 issue of the day.  Unfortunately we are competing with "dancing with the stars", xbox, ps2, the NFL, PTI, and the "big three" (loose shoes, tight pussy, and a warm place to take a shit.....thank you Earl Butz). So the possibility of massive public unrest remains very unlikely.....bummer.  So in the end we'll be more like George Carlin, talking out but mostly just enjoying our front row seat to the freak show here in the once great US of A.

A big thanks goes out to Bloomberg for two things.......of course for going after Bennie and the Jets and for giving me a TV business news option to CNBS.  


IMO the "real" reason for us maintaining our large military presence in the Middle East is not the oil or the factitious war on terrorism but because of it's proximity to Israel. The Middle East is a tough neighborhood.  There are "a few" (LOL) people in DC who have a keen interest in the Jewish state. If we pull out, who will do their heavy lifting? Are they capable of surviving alone in the ME version of East LA?

 We can become energy independent within 2-3 years by transitioning to CNG.  It's cheaper, cleaner, and we have a shitload of it right here....and our kids(troops) will be out of harms way.....if only this issue could compete with this weekend's Cowboy game or with the celebrities on Dancing with the Stars.


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