http://market-ticker.org/akcs-www?post=175615
Do "We" deserve this kind of representation, which comes from a government endorsed private entity?
The hand writing is on the wall kids, in big bold neon colors.
The Federal Reserve and the Office of the Comptroller of the Currency are biased toward the banks and don't represent you at all.
It's time to end the FED.
We all deserve better!
Yep.... any screwing is a good screwing, so long as a bank does it and you, the consumer, are the screwee.
WASHINGTON -- Top policymakers at the Federal Reserve are fighting efforts to rein in widely reported bank abuses, sparking an inter-agency feud with the FDIC and the Treasury Department. The Fed, along with the more bank-friendly Office of the Comptroller of the Currency, is resisting moves to craft rules cracking down on banks that charge illegal fees and carry out improper foreclosures. The FDIC supports such rules, according to an FDIC official involved in the dispute.
Got that?
The Fed and OCC are resisting cracking down on ILLEGAL fees and IMPROPER foreclosures.
What part of "illegal" don't these guys care about?
Oh, that's simple. If it's illegal (say, by charging an illegal fee, foreclosing by committing perjury, doctoring wire information so that the fact that you're funding terrorism in the Middle East is obscured, or screwing municipalities with hinky derivative deals, or perhaps not even transferring mortgages into alleged mortgage-backed securities) according to The Fed and OCC it's perfectly ok if it screws the consumer - or anyone except a bank.
But as soon as you screw a bank, why that's really illegal and for that you should be prosecuted.
