Federal Reserve - Audits and Bad Investments - Conflicts of Interest

[WhiskeyGirl]

How is it possible that the Federal Reserve is a private bank and has private investments, and is trusted to keep our money supply secure?

How would taxpayers ever know if there is some dirty dealings going on?

N.Y. Fed Takes Stakes in 2 A.I.G. Units

December 2, 2009, 3:36 am To reduce its crushing debt, the American International Group said on Tuesday that it had completed its plan to award the Federal Reserve Bank of New York a $25 billion stake in two of its big foreign life insurance subsidiaries.

read more here - http://dealbook.blogs.nytimes.com/2009/12/02/new-york-fed-takes-stakes-in-2-aig-insurance-units/

IIRC, AIG was profitable except for it's DERIVATIVES Unit.  Why didn't they just spin that off and let it fail?  Why the pass throughs to Goldman, foreign banks?

WHY DID TAXPAYERS GET STUCK WITH ALL THE BAD DEBT?

Why is the Federal Reserve taking interest in another banks?  What about conflicts of interest?  Who decided on the price?  If they're getting a $25 billion dollar stake, how much are they paying for it?  Just because they're getting $25 billion, doesn't mean that's what they are paying?

Is the New York Fed paying pennies on the dollar?  Maybe putting up just $10 billion?

Where is the NY Federal Reserve getting the $10 billion?  Private money?  Taxpayer money?   

Shell game?

What's left for taxpayers?  More debt?

How many investments like this does the Federal Reserve have? 

Do taxpayers get stuck everytime the Federal Reserve investments go bad?

Is that what crashed the financial system last year?  The Federal Reserve's super secret financial wheelings and dealing went bad?  The Federal Reserve was maybe bankrupt?

How many conflicts of interest are going on at the Federal Reserve?

When will the Federal Reserve open the books?

My opinions and speculation.

[WhiskeyGirl]

Another mystery -

Why are people at AIG bailing?  Does AIG really need 'special' people?

Or, just people to keep quiet about what is really going on?

What would a good forensic audit of AIG show?

Is AIG scheduled to collapse?  The best bits being spun off to other banks and taxpayers left with the doo-doo?

[WhiskeyGirl]

Why expand the powers of the Fed under HR 4173?

There needs to be a big audit of the Fed and an end to the job rotation.

The nation needs people in Washington who are FOR the little people on Main Street.

We need to know what's going on at the Fed and take corrective action.

jmho