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|User Info||Look What We Have Here! (Fed); entered at 2019-04-11 12:32:57|
@Cobra2411 - |
Are you referring to them killing Indymac? Wasn't that because they threatened more banks would collapse unless CONgress gave into their demands? Then they withdrew liquidity till a corpse floated to the surface?
No; Bernanke yanked $60 billion out of the banking system into the maw of Lehman's collapse via OMO; the NY Fed's data is public, and I caught him doing it.
There was a ticker on it at the time and I faxed copies of it to everyone in Congress; not a peep. Then he LIED in Humphrey-Hawkins testimony about it the next time on the Hill, saying he had ADDED liquidity to try to stop the collapse. It was a blatantly and knowingly-false statement and yet despite every single member of Congress having the PROOF in their hands not ONE question was asked about how he could have "added" liquidity while the OMO was intentionally drained at the NY Fed to the tune of $60 billion.
BTW Geithner was the head of said NY Fed at the time. For ****ing everyone up the ass he got to be Treasury Secretary.
Last modified: 2019-04-11 12:33:14 by tickerguy