WASHINGTON -- The Federal Reserve lost $5.25 billion in the first quarter on the securities it acquired with last year's bailouts of Bear Stearns and insurer American International Group Inc., according to a report issued Wednesday.
The loss on the holdings, which include mortgage-backed securities, reflected a decline in their value as the recession carried over into the first three months of this year. The cumulative loss of the Bear and AIG holdings come to $16.46 billion since they were taken over last year.
"In the long run, we are all dead but our children will be left to pick up the tab." ~ Thomas Hoenig, Federal Reserve Bank of Kansas City
Thomas Hoenig is the president of the Federal Reserve Bank of Kansas City. In a recent speech, he laid out a scenario for what the Federal Reserve ought to do and what the U.S. government ought to do, and what will happen if they refuse. You can read it here.
"The Government is not The Solution to our Problems , The Government is The Problem "
"When the people fear their government, there is tyranny; when the government fears the people, there is liberty."
Schools manufacture people who think that they're smart but they're not.
Education is what you learn after you leave School
" Schools were designed to create employees for the big corporations."
"If a law is unjust, a man is not only right to disobey, he is obligated to do so" Thomas Jefferson
Dissent is the highest form of patriotism
“True education makes you feel stupid. It makes you realize you have so much more to learn.” Robert Kiyosaki
There's the rich, the poor, and the tax payers...also known as the middle class. Robert Kiyosaki
"One day your life will flash before your eyes. Make sure it's worth watching." - Gerard Way
The losers in life think they have all the answers. They can’t learn because they’re too busy telling everyone what they know.
Robert T. Kiyosaki
"Failure is simply the opportunity to begin again. -This time more intelligently." Henry Ford
If you expect the government to solve your problems, you have a problem. Robert Kiyosaki
"Those who give up their liberty for more security neither deserve liberty nor security." Benjamin Franklin
"None are more hopelessly enslaved than those who falsely believe they are free.” - Johann Wolfgang von Goethe
"Always trust someone who is seeking the truth , never trust someone who found it" Jordan Maxwell
Be The Change you want to see in The World
Failure inspires winners but defeats losers
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This Rally Has Been Based on a “Fantasy,” Says Peter Schiff - Peter Schiff : "I think Wall Street has been trying to convince itself that despite the data, the... [[ This is a content summary only. Visit www.figanews....1 week ago