Fed is a private corporation controlling and profiting from managing US money in a mostly covert way.
accusations that the Fed central bank is a power unto itself, operating according to its own devices and in the interest of major financial institutions -- and beyond accountability to taxpayers.
"That is the fundamental problem with the Fed," Baker added. "They're supposed to be an agency of the government, not an agency of the banks. But reflexively, there they are protecting the banks, again and again and again."
During the week in October 2008 when borrowing under the program peaked, foreign banks received more than 70 percent of the $110.7 billion that the Fed lent out
Federal Reserve Lending Revelations Intensify Criticism Of Central Bank's Secrecy
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