Comments on: Federal Reserve Board Rife With Conflict of Interest, GAO Report http://abcnews.go.com/blogs/politics/2011/10/federal-reserve-board-rife-with-conflict-of-interest-gao-report/ The latest Politics news and blog posts from ABC News contributors and bloggers including Jake Tapper, George Stephanopoulos and more. Fri, 19 Dec 2014 19:35:19 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: Erik Jan http://abcnews.go.com/blogs/politics/2011/10/federal-reserve-board-rife-with-conflict-of-interest-gao-report/#comment-5929562 Erik Jan Sat, 29 Oct 2011 15:35:02 +0000 http://abcnews.go.com/blogs/politics/?p=139242#comment-5929562 This comes at a time when the Occupy Wall Street is getting stronger by the day. I think now is time for someone to stop this corruption money train before it hits a wall and takes America with it. Americans’ money has been toyed with long enough. The Federal Reserve is in itself a conflict of interest. They are supposed to keep inflation and credit aggregates under control and yet they have things like "Target inflation" and they follow policies that ruin credit aggregates beyond what is necessary in the overall economy. This comes at a time when the Occupy Wall Street is getting stronger by the day. I think now is time for someone to stop this corruption money train before it hits a wall and takes America with it. Americans’ money has been toyed with long enough. The Federal Reserve is in itself a conflict of interest. They are supposed to keep inflation and credit aggregates under control and yet they have things like “Target inflation” and they follow policies that ruin credit aggregates beyond what is necessary in the overall economy.

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By: rekooh http://abcnews.go.com/blogs/politics/2011/10/federal-reserve-board-rife-with-conflict-of-interest-gao-report/#comment-5675432 rekooh Wed, 26 Oct 2011 15:15:55 +0000 http://abcnews.go.com/blogs/politics/?p=139242#comment-5675432 OK - I voted for Obama! I'm sorry! But what opportunity did I have to choose anyone different - you've seen how Palin and McCain have turned out. We need more Bernie Sanders! Take back the charter from the Fed - teach civics in high school - and pass a constitutional amendment to declare corporations "non-people"! OK – I voted for Obama! I’m sorry! But what opportunity did I have to choose anyone different – you’ve seen how Palin and McCain have turned out. We need more Bernie Sanders! Take back the charter from the Fed – teach civics in high school – and pass a constitutional amendment to declare corporations “non-people”!

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By: tobeornottobe http://abcnews.go.com/blogs/politics/2011/10/federal-reserve-board-rife-with-conflict-of-interest-gao-report/#comment-5213162 tobeornottobe Fri, 21 Oct 2011 15:25:27 +0000 http://abcnews.go.com/blogs/politics/?p=139242#comment-5213162 The FED = crony capitalist enabler and promoter. It's high time to tear down the DC-Wallstreet Oligarcy, starting with terminating the FEd charter. This collection of repulsive, manipulative vermin are un-apologetically, arrogantly destroying our economy as they annihilate our monetary system. Kill the FED, go back to the gold standard. Vote out all entrenched DC power addicts. VOTE FOR RON PAUL. The only candidate that is not a innumerate, pathological liar! The FED = crony capitalist enabler and promoter.

It’s high time to tear down the DC-Wallstreet Oligarcy, starting with terminating the FEd charter.
This collection of repulsive, manipulative vermin are un-apologetically, arrogantly destroying our economy as they annihilate our monetary system.
Kill the FED, go back to the gold standard. Vote out all entrenched DC power addicts. VOTE FOR RON PAUL. The only candidate that is not a innumerate, pathological liar!

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By: Searambler http://abcnews.go.com/blogs/politics/2011/10/federal-reserve-board-rife-with-conflict-of-interest-gao-report/#comment-5128532 Searambler Thu, 20 Oct 2011 15:12:49 +0000 http://abcnews.go.com/blogs/politics/?p=139242#comment-5128532 "In September 2008, Goldman Sachs received permission from the Fed to become a bank holding company and get access to loans from the Fed while Stephen Friedman, then chairman of the New York Federal Reserve’s board of directors, owned shares in Goldman Sachs and sat on its board of directors. The Fed gave Friedman a waiver from its conflict of interest rules but did not consult with the board nor did it publicly disclose the affiliation." OBAMA SHOULD BE IMPEACHED FOR THIS!!! Oh wait, that was before he was president. 'Nothing to see here, folks. Move along'...... “In September 2008, Goldman Sachs received permission from the Fed to become a bank holding company and get access to loans from the Fed while Stephen Friedman, then chairman of the New York Federal Reserve’s board of directors, owned shares in Goldman Sachs and sat on its board of directors. The Fed gave Friedman a waiver from its conflict of interest rules but did not consult with the board nor did it publicly disclose the affiliation.”

OBAMA SHOULD BE IMPEACHED FOR THIS!!! Oh wait, that was before he was president. ‘Nothing to see here, folks. Move along’……

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By: Searambler http://abcnews.go.com/blogs/politics/2011/10/federal-reserve-board-rife-with-conflict-of-interest-gao-report/#comment-5128452 Searambler Thu, 20 Oct 2011 15:11:00 +0000 http://abcnews.go.com/blogs/politics/?p=139242#comment-5128452 "The Federal Reserve gave JP Morgan Chase an 18-month exemption from risk-based leverage and capital requirements in 2008, the same year that the Fed gave it $29 billion to acquire Bear Stearns, according to the GAO." BLAME OBAMA!!!! Oh wait, that was BEFORE he was elected. In that case - what's the problem here? “The Federal Reserve gave JP Morgan Chase an 18-month exemption from risk-based leverage and capital requirements in 2008, the same year that the Fed gave it $29 billion to acquire Bear Stearns, according to the GAO.”

BLAME OBAMA!!!! Oh wait, that was BEFORE he was elected. In that case – what’s the problem here?

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By: newcountryman http://abcnews.go.com/blogs/politics/2011/10/federal-reserve-board-rife-with-conflict-of-interest-gao-report/#comment-5046372 newcountryman Wed, 19 Oct 2011 21:35:04 +0000 http://abcnews.go.com/blogs/politics/?p=139242#comment-5046372 I think Obama has adapted admirably to the Washington status quo.... I think Obama has adapted admirably to the Washington status quo….

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By: Taintedbylies http://abcnews.go.com/blogs/politics/2011/10/federal-reserve-board-rife-with-conflict-of-interest-gao-report/#comment-5039032 Taintedbylies Wed, 19 Oct 2011 20:37:39 +0000 http://abcnews.go.com/blogs/politics/?p=139242#comment-5039032 Duh. They're just now figuring this out? We really need to improve the required curriculum for high school graduation. Duh. They’re just now figuring this out? We really need to improve the required curriculum for high school graduation.

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By: dave http://abcnews.go.com/blogs/politics/2011/10/federal-reserve-board-rife-with-conflict-of-interest-gao-report/#comment-5037252 dave Wed, 19 Oct 2011 20:19:39 +0000 http://abcnews.go.com/blogs/politics/?p=139242#comment-5037252 The revolving door between Wall Street and government and quasi-governmental agencies is there to CREATE conflict of interest. The fact that people are surprised about this just underlines the fact most people aren't paying attention. There is no surprise to this story... it's business as usual at the Fed and at Treasury. (and, to the Obama haters, this goes back WAY before him, even farther than Reagan or Nixon) The revolving door between Wall Street and government and quasi-governmental agencies is there to CREATE conflict of interest. The fact that people are surprised about this just underlines the fact most people aren’t paying attention. There is no surprise to this story… it’s business as usual at the Fed and at Treasury.

(and, to the Obama haters, this goes back WAY before him, even farther than Reagan or Nixon)

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By: RalphF http://abcnews.go.com/blogs/politics/2011/10/federal-reserve-board-rife-with-conflict-of-interest-gao-report/#comment-5036222 RalphF Wed, 19 Oct 2011 20:09:37 +0000 http://abcnews.go.com/blogs/politics/?p=139242#comment-5036222 "...Some did hope for change. But what can you do?..." -- a change from who? Obama? That's laughable. Yes, all you little kiddies just continue on hoping for change from Obama...yep...just keep on hoping...now, go play in your sand box... “…Some did hope for change. But what can you do?…” — a change from who? Obama? That’s laughable. Yes, all you little kiddies just continue on hoping for change from Obama…yep…just keep on hoping…now, go play in your sand box…

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By: savethemiddleclass http://abcnews.go.com/blogs/politics/2011/10/federal-reserve-board-rife-with-conflict-of-interest-gao-report/#comment-5033132 savethemiddleclass Wed, 19 Oct 2011 19:36:44 +0000 http://abcnews.go.com/blogs/politics/?p=139242#comment-5033132 Jeffrey Inmelt: Excellent post. JFK attempted to strip the Federal Reserve of its power in June of 1963 when he signed Executive Order 11110. This Executive Order has never been repealed and most of our current debt has been incurred since that time; however, no President has ever utilized the order. By attempting to get our troops out of Vietnam and by eliminating the Federal Reserve's ability to create money, he would have cut into the contol of the New York banking establishment. Is it any wonder that he was assassinated five months later and that NO subsequent president has utilized this Executive Order? Jeffrey Inmelt: Excellent post. JFK attempted to strip the Federal Reserve of its power in June of 1963 when he signed Executive Order 11110. This Executive Order has never been repealed and most of our current debt has been incurred since that time; however, no President has ever utilized the order. By attempting to get our troops out of Vietnam and by eliminating the Federal Reserve’s ability to create money, he would have cut into the contol of the New York banking establishment. Is it any wonder that he was assassinated five months later and that NO subsequent president has utilized this Executive Order?

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