Yesterday’s shocking report from Bloomberg Markets magazine stating that the Federal Reserve and the Treasury hid $7.7 trillion dollars in low interest loans to banks from Congress and the American people has TX Gov. and GOP presidential candidate Rick Perry frothing mad.
Perry is so upset, he wants Fed Chair Ben Bernanke to resign or be fired. He also wants Treasury chief Tim Geithner tossed out too.
Gov. Perry was on News Radio 1040’s Simon Conway show yesterday and talked about the massive hidden loans, Bernanke, and Geithner.
Conway’s conversation with Perry also covered AZ Sheriff Joe Arpaio’s recent endorsement of the Gov. and then returned to the Bernanke/Geithner discussion:
The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. ABC News reports that the Fed Chair had a reason for withholding the information:
Fed Chairman Ben Bernanke had argued back in 2008 when the crisis hit that revealing borrower details would create a stigma that would have led to more banks collapsing.
Bloomberg Markets used the Freedom of Information Act and forced the government to turn over 29,000 pages of documents that detailed more than 21,000 transactions to banks.