How to Loot a Great Nation?

Vote in a president that was never qualified to be one in the first place, and keep voting in the self-serving idiots year after year. That's how you loot a great nation.

You and your link are misrepresenting what the audit stated. For anyone who is interested, the audit report can be found at http://www.gao.gov/new.items/d11696.pdf

First, these lending programs were NOT "secret". The extraordinary lending programs were included on the Fed's balance sheet as total amounts outstanding as of the date of the balance sheet. For example, here is a link to the Nov. 28, 2008 H.4.1 statistical release. http://www.federalreserve.gov/releases/h41/2008112...

Second, there was never $16 trillion in loans outstanding. Most of the extraordinary lending were for loans that matured overnight to address temporary liquidity issues. Also, most the extraordinary lending programs required adequate collateral from the borrower. Almost all of the extraordinary programs have now ended and all loans made under those programs were repaid, on-time, and with interest.

Third, there was no corruption involved. The word "corruption" is not even found in the GAO report. As for conflicts of interest, most employees of the Fed that were stockholders of some of these companies that borrowed from the Fed were removed from direct decision-making on the programs that affected those companies. However, that was not always possible. If a stockholder that was also an employee of the Fed, sold his stock before the company received a loan, then he could have been accused of insider trading since he was acting on non-public information. If he holds the stock or sells after the company received funding, then he would be accused of attempting to profit from the crash. Essentially, that person would be accused of wrongdoing regardless of the actions that he took. What really happened at the Fed and what the report explains is that if an employ was vital to the lending program and yet had a financial interest in the company, that all of their decisions regarding the loans to the company were approved by someone else without a financial stake in the company.

I don't get how this is "looting" America when so far all of the loans were paid back with interest and the Federal Reserve has made record payments to the U.S. Treasury in 2009 and 2010.

http://www.usatoday.com/money/economy/2011-03-22-f...

Canada has extremely lax laws over there. Robbing people is as easy as walking in and taking what you want. They don't have home castle laws so it is illegal for them to use force to remove burglars from their homes.

forget nations, go after corporations and banks.