The Federal Reserve oversees most US banks and has been in the fore in bailing out insolvent banks. In essence, the Federal Reserve has been the "Bad Bank" by accepting toxic bank assets. So when president Obama indicates that he will set up a "bad bank" that indicates a Federal Reserve "NO MAS" or they can go no further. Confirmation of this comes from UK banks and actions taken by the British government. The Federal Reserve is not a US government branch, but a foreign entity composed of global bank shares. Thus the Obama - 10 Downing Street puts the Federal Reserve in a State Of California debt situation. I guess we will just have to see if the US treasury can sell any bonds themselves. The Duchey Of Fenwick just spit on the US military...
 
Posted by don scott on 02/05/2009 11:04 AM   Comments (2)   federal reserve, bad bank, bank bailout  
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2 Comments on President Obama Signals That The Federal Reserve Is Bankrupt

FEB
05
2009
315,609 Points 1 Featured Post

How can that be when The Fed creates all their money out of thin air?
11:17am • #1
128,993 Points 3 Featured Posts

Slowly but surely what many predicted is happening.
10:21pm • #2


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