Let heads roll... I can't wait for a complete transformation away from this ridiculous system. Thank God we have 'Senator Awesome' coming to bat for the American people!
"Sen. Bernie Sanders (I-Vt.) said the Federal Reserve's recent disclosure about transactions it undertook during the financial crisis lifted the "veil of secrecy" at the Fed, one that he wants to further expand with congressional investigations.
"After years of stonewalling by the Fed, the American people are finally learning the incredible and jaw-dropping details of the Fed's multi-trillion-dollar bailout of Wall Street and corporate America," he said in a statement. "Perhaps most surprising is the huge sum that went to bail out foreign private banks and corporations. As a result of this disclosure, other members of Congress and I will be taking a very extensive look at all aspects of how the Federal Reserve functions."
Sanders specifically said he wants to explore whether institutions used near zero-interest-loans from the Fed to buy higher-yielding Treasury bonds.
"That's corporate welfare," he said. "This is something that has to be examined very closely."
He also said he wanted to dig into whether large financial institutions prematurely paid back funds from the Troubled Asset Relief Program to avoid executive compensation limits while still relying on loans from the Fed.
"These guys on another planet operate to protect their own incredible wealth while they ignore the needs of the average American," he said."
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