QE3 Another Fed Give Away to the Banks

[geefloyd46]

The banks own private ATM machine. The only difference they don't have to pay it back. A depression will be a bonanza for the banks as they gobble up the country's assets and give nothing back to their people.

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[Cicada]

1. Does this guy know QE3 is PURCHASE of assets, not loans?

Fed buys stuff - this time around they plan to buy mostly mortgage-backed securities. The guy in the video seems to be talking about LOANS to banks made at low interest rates. That's not QE3 according to what I have read.

[JDPriestly]

2. My understanding also. But I suppose that by buying the banks' troubled assets, the Fed frees the

banks to gamble.

The FED system needs a revamping.
It isn't working. It is not a democratic institution.
Same needs to be said of our national security structures. They are imposing themselves on our society, not really a part of it. The FED and the national security agencies exist on their own. Oversight is insufficient. Their bureaucrats work through generations of executives, generations of Congresses. They are ensconced in their power and neither transparent nor responsive to us, the people. They exist in their own universe. They mean well, but their independence undermines ours.

[fasttense]

3. Doing the same thing over and over again and expecting different results.....

That the definition of our current Fed..