The Federal Reserve & Main Street's Depression

[WhiskeyGirl]

There seem to be two America's - Wall Street and Main Street.

Wall Street is growing, making big bonuses, and not adding jobs - the party never ended.  Wall Street seems to be doing the 'power lifting' for the nation's financial statistics.   

I would imagine, Wall Street may not be aware that Super Obama saved the nation from an 'almost' Depression.

Is every American sharing the wealth?  The profits?  Or just Obama's debt for Wall Street's bailout?

Main Street.  Where is Main Street's rising fortune?

First, folks lost their jobs - for decades. Jobs to China, Mexico, India, other places...

Later, millions of illegal aliens flood the nation and build an 'underground' economy.  An economy seemingly fueled by drugs, violence, kidnapping, and welfare.

More folks losing their homes on Main Streets.  Rising taxes to support the invading army.  Rising energy prices, to help support the welfare state. 

Even if you can afford the housing price, can you afford the property taxes?  Can you imagine property taxes more than the house payment?  What's wrong with this picture?

Who's bailing out Main Street from the 2W (Washington & White House) Depression of 2010?  Who's helping to rebuild small business?  What happens when the government money runs out and more factories close?

There are two America's - one on Wall Street (including big business and unions) that continues to party, the other on Main Street that is struggling to survive the 2W Depression.

Why aren't Washington and the White House supporting the majority on Main Street?  The little guy that supports a family?

Doesn't anyone notice that Main Street is in a Depression?

jmho

[WhiskeyGirl]

Despite audit, Federal Reserve's scope may widen with Senate bill
   
By Neil Irwin
Monday, May 17, 2010

As the debate over how to overhaul financial regulation heated up last year, there was one thing Democrats and Republicans seemed to agree on: that the Federal Reserve had made major mistakes that contributed to the financial crisis and needed to have its wings clipped.

Maybe someone in Washington or the White House should insist on an end to the Job Rotation between big banks/companies like Goldman and Wall Street and the Fed?  Treasury? 

Ending conflicting interests?  Cronyism?  Favoritism?  Nepotism?

Why isn't Main Street managing our nation's business?  Why does it seem like Washington and White House are for big central banks? 

Yet as the legislation has made its way through Congress, including with a round of amendments approved on the Senate floor last week, increasingly it appears that the changes to the Fed will be relatively minimal, and largely viewed as acceptable to leaders of the central bank.

Why is that?

Last week, under pressure from the administration, Sanders agreed to a compromise version of his amendment that would allow an intensive outside audit of Fed lending actions during the financial crisis -- but which walls off the Fed's monetary-policy decisions from congressional review. It passed the Senate unanimously, and both the Fed and Obama administration view it as acceptable. More broadly, the Fed has signaled its intention to disclose more information about its actions; last week, it posted the contracts it maintains with foreign central banks for dollar swap lines on its Web site, and is making public how much is lent under those swap lines to each of its counterparts overseas.

As an American, I wonder, why isn't the Fed building firewalls to protect Americans from economic collapse in foreign countries?

Why can't Americans go to the web and find out where EVERY PENNY from the FED is going?  Why isn't there an open VIRTUAL check book?

Why shouldn't Americans know who gets the special wheels and deals with their money?

more here - http://www.washingtonpost.com/wp-dyn/content/article/2010/05/16/AR2010051602287.html

I think the best consumer protection is to OPEN ALL the BOOKS at the Fed.  Shed some light on any conflicting interests.

Where is the money going?

Massive debt, and money printing and no one seems to know where it goes and who's profiting off the backs of those on Main Street.

jmho

[Edward]

Your opening opinions and timeline are so correct Whiskey Girl.

All of it was and still is by design.