FED Chairman Threatens Crash if Audited

Carl Herman with the Examiner says the following 7-minute video is one of the best he's ever seen in economics. It begins with Federal Reserve Chair Ben Bernanke threatening an economic crash if Congress audits the Fed, moves to revealing headlines of financial corporate profits being socialized from gambling losses, then closes with Secretary of the Treasury Tim Geithner telling Congress that TARP is really a perpetual line of $700 billion credit for him to do with as he pleases as long as Bernanke agrees. That means, if Treasury can sell the troubled assets, that money returns to Geithner's private reserve to buy more assets. As you may know, Harvard's Elizabeth Warren, the chair for the Oversight Panel, reported to the Senate that Treasury is over-paying corporations by about 50%. That's a gift from us, the taxpayers, to the gambling-addicted plutocrats of $82 BILLION.