The Fed Rightfully Believes That Protecting Goldman Is "In The Interest Of The U.S. Economy And The Interest Of The Public"
We would like to direct Your attention to this letter written some months ago by that one person who comes closest to being called Your "supervisor." Indeed, we are well aware that You, Mighty Majesty, are not accountable to anyone, on heaven, hell, purgatory or earth. Nonetheless, we assume You got this particular memo.
MEMORANDUM FOR THE HEADS OF EXECUTIVE DEPARTMENTS AND AGENCIES
SUBJECT: Transparency and Open Government
My Administration is committed to creating an unprecedented level of openness in Government. We will work together to ensure the public trust and establish a system of transparency, public participation, and collaboration. Openness will strengthen our democracy and promote efficiency and effectiveness in Government.
Government should be transparent. Transparency promotes accountability and provides information for citizens about what their Government is doing. Information maintained by the Federal Government is a national asset. My Administration will take appropriate action, consistent with law and policy, to disclose information rapidly in forms that the public can readily find and use. Executive departments and agencies should harness new technologies to put information about their operations and decisions online and readily available to the public. Executive departments and agencies should also solicit public feedback to identify information of greatest use to the public.
Government should be participatory. Public engagement enhances the Government's effectiveness and improves the quality of its decisions. Knowledge is widely dispersed in society, and public officials benefit from having access to that dispersed knowledge. Executive departments and agencies should offer Americans increased opportunities to participate in policymaking and to provide their Government with the benefits of their collective expertise and information. Executive departments and agencies should also solicit public input on how we can increase and improve opportunities for public participation in Government.
I direct the Chief Technology Officer, in coordination with the Director of the Office of Management and Budget (OMB) and the Administrator of General Services, to coordinate the development by appropriate executive departments and agencies, within 120 days, of recommendations for an Open Government Directive, to be issued by the Director of OMB, that instructs executive departments and agencies to take specific actions implementing the principles set forth in this memorandum. The independent agencies should comply with the Open Government Directive.
This memorandum is not intended to, and does not, create any right or benefit, substantive or procedural, enforceable at law or in equity by a party against the United States, its departments, agencies, or entities, its officers, employees, or agents, or any other person.
This memorandum shall be published in the Federal Register.
We were confused, Munificent Maestro, how in the context of President Obama's commendable pursuit for transparency, openness and public participation, should we read Your request for an appeal of the Bloomberg lawsuit (presented below in its entirety) based on the following premise:
[D]isclosure of the identity of the institutions that have borrowed from the Federal Reserve Banks as lenders of last resort or providers of emergency credit is likely to stigmatize the borrowers and to cause substantial competitive injury - whether or not they are experiencing financial difficulties - including the withdrawal of funding from the institution, an outflow of deposits, and a loss of public confidence.
We got lost, Esteemed Eminence, at the point where in Your wisened ways, You purport to disagree with President Obama's claim that the United States of America "will work together to ensure the public trust and establish a
system of transparency, public participation, and collaboration." Surely, Your Benign Benevolence must be mistaken as Your argument that "disclosure" equals a "loss of public confidence" conflicts diametrically with what our country's elected leader has stated in the past is his administration's primary goal. Does Your Honorable Highness purport to have an authority on par if not higher with a figure elected by the majority of roughly 330 million citizens of the United States of America? Or is it merely that in Your seasoned assessment of the situation You, Transient Tyrant, have so little faith in the ratiocination capacity of Your fellow countrymen that Your Felicitous Fabulousness presumes that You and You alone are capable of not only handling the truth, but deciding who else is privy to its dispensation.
Before we continue, rest assured Handpicked Holiness that we thoroughly agree with You. All the problems of this nation have and always will originate simply as a result of the general public becoming aware of what appears to be a massive criminal enterprise that occurs behind the scenes each and every day. After all, as another Evil Empire had a saying years ago, "The less they know, they better." If a multi trillion dollar crime has occurred in the woods and nobody heard it, it never really occurred. And to top off the list of sayings, when in doubt, Dubious Despot, deny, deny, deny.
Please do not for a minute assume, Delightful Dictator, that we, the American public, are not thoroughly grateful with Your repeated and escalating efforts to protect us from ourselves. After all, the last thing we need is information, understanding and responsibility. Best to keep all three of these in the realms of speculation, conspiracy and conjecture. If anything, we just request that You allow the ceiling on our collective credit cards to be raised by another 1,000,000%... as for the APR, we don't care: following in Your example, Prophetic Proselytizer, we have, all of us, decided never to pay off these credit cards. Ever.
Delightfully Yours In Perpetual Bankruptcy,
The American Sheeple