Audit The Fed: HR 1207 & The Financial Sector Assessment Program (FSAP) - Part I

All references mentioned in the video are sourced here below:

First: A MUST READ Article (for the 'Audit the Fed' crowd):
West Wing: The Shrinking Influence of the US Federal Reserve ...
Jun 26, 2008 ... that a so-called Financial Sector Assessment Program (FSAP) is to be carried out ... The review can begin in Bush's last year in office, ...
http://www.spiegel.de/international/world/0,1518,562291,00.html

Additional Sources:
Greenspan Examines Federal Reserve, Mortgage Crunch
Originally Aired: September 18, 2007:
JIM LEHRER: What is the proper relationship, what should be the proper relationship between a chairman of the Fed and a president of the United States ?
ALAN GREENSPAN: Well, first of all, the Federal Reserve is an independent agency, and that means, basically, that...what the relationships are don't, frankly, matter.
http://www.pbs.org/newshour/bb/business/july-dec07/greenspan_09-18.html

Statement by Secretary Tim Geithner at International Monetary and Financial Committee (IMFC) Meeting
April 25, 2009
The United States is undergoing an IMF Financial Sector Assessment Program, reflecting our commitment to accept the obligations and responsibilities of being an IMF member.
http://www.treas.gov/press/releases/tg104.htm

Secrets of the temple: how the Federal Reserve runs the country
by William Greider - 1989 - Business & Economics - 798 pages
If creation of the Fed was intended to break the "money trust," then why did the new institution collaborate so closely with it? (pg. 747, citing Gabriel Kolko's "The Triumph of Conservatism: A Reinterpretation of American History, 1900-1916, MacMillan, 1963)
http://books.google.com/books?id=JxSU5I58L-wC

Testimony of Treasury Secretary Henry M. Paulson, Jr. before the House Financial Services Committee
June 20, 2007
A major step forward occurred in March 2004, when IMF and World Bank Executive Boards agreed to make countries' compliance with the FATF 40 + 9 recommendations, the anti-money laundering and terrorist financing standard, a regular part of their financial sector surveillance and diagnostic work, including in the Financial Sector Assessment Program.
http://treasury.gov/press/releases/hp469.htm

Daily Kos: IMF Investigates US Financial System First Time In History
The real news is Bush put it off for seven years while he and his cronies looted the US . From the IMF's site: Financial Sector Assessment Program (FSAP) ...
http://www.dailykos.com/story/2008/9/18/12334/1385/810/602281

The G-20 Financial Summit: A New Day for Global Governance ...
Nov 17, 2008 ... commit to undertake a Financial Sector Assessment Program (FSAP) report. ... President Bush, before saying good-bye to the international ...
http://www.brookings.edu/opinions/2008/1117_g20_summit_bradford.aspx

Capital Market and Financial Sector Development in Sub-Saharan Africa
producing nations, and participants of President Bush's Emergency Plan for .... Support expansion of the IMF/IBRD Financial Sector Assessment Program. ...
http://www.csis.org/africa/0405_CapitalMarkets.pdf

Future News Today: Has the US become a 3rd World Country?
... of Directors has ruled that a Financial Sector Assessment Program (FSAP) is ... For seven years, US President George W. Bush refused to allow the IMF to ...
http://futurenewstoday.blogspot.com/2008/09/has-us-become-3rd-world-country.html

Financial Sector Assessment Program
An IEG Evaluation
The Financial Sector Assessment Program (FSAP) is a major initiative, undertaken jointly by the WB and the IMF, in response to the financial crises of the late 1990s. The FSAP was set up in May 1999, initially as a 12-country pilot exercise consisting of diagnostic studies designed to facilitate early detection of financial sector vulnerabilities and identification of financial sector development needs, as well as support an improved and coordinated dialogue among the national authorities, the Bank, and the IMF.

As of October 2005, more than 109 country assessments and 18 updates have been completed or are ongoing, and the program has involved a significant deployment of resources at the Bank.

The FSAP is predicated on the assumption that the objectives of financial sector stability and development are essential and relevant to the Bank's and IMF's missions. Reviews of economic data and literature have confirmed that financial sector crises often lead to sharply increased poverty and reduced growth, and that there is a link between financial sector development and poverty reduction and improved growth. Hence, this evaluation confirms that the program's objectives are relevant to the Bank's mission.
http://web.worldbank.org/WBSITE/EXTERNAL/EXTOED/EXTFINSEC/0,,contentMDK:21075...

Category:

People & Blogs

Tags:

• HR 1207
• FSAP
• Ron Paul
• Federal Reserve
• Independent Agency
• Fourth Branch

[shelleymcc]

Great Chris!

I can't wait to hear all of your videos, which I just found out about tonight on RBN. BTW, you were right about the source (sad that it never changes in history; evolutionary theory keeps people blind to modern tyrants - "We can't be like them, we're 'evolved' "): "We hang the petty thieves and appoint the great ones to public office." Aesop Greek slave & fable author (620 BC - 560 BC)

[RoadWarriorRadio]

@shelleymcc where'd you go? I was gonna give you kudos & props, but I see your profile is gone. Shelley come back. :)

[NYFreedomLover]

I hear it just fine.

GO CHRIS, GO CHRIS!!!!!!

Great Vid

[RoadWarriorRadio]

Glad you liked it! We have more on the way.

Hopefully the info is useful and informative. Unfortunately nobody is talking about the IMF FSAP the U.S. is currently undergoing, and what it means for the U.S., and the world - bad news.

[Matthew3638]

Chris,

I cannot hear a word you are saying in this video. The rest of the audio works fine. Is it just me?

[RoadWarriorRadio]

Sorry, and thanks for the heads up. When we shot the video only the left channel picked up, so if you're listening to mono on the right, you'll only hear the occasional sound effect.

If possible, try plugging headphones or speaker(s) on the left channel. Next videos will remedy the problem. :)

[retatkcid]

Thanks guy!

Consider using tinyurls for your long citation URLs or link to a separate web page with better formatting than offered by YT. Since YT truncates URL text, copy/past of video description is borked and must be manually edited.

[stevemcgee99]

I don't trust the World Bank and IMF to do anything but help wealthy interests externalize their costs to poor countries.

[lyndonb]

Get rid of the stupid music at the front and back of your your videos. Not everyone likes butt rock. It can get your channel removed for using copyrighted material and this is serious business not ticks for kids ask George4title.

[illmagnified]

what kind of news program cant even record in stereo in 2009?

[AriaDivina]

Thank you. Everyone should call their senators and congressmen and women and URGE them to vote for H.R. 1207 and continue to call, e-mail, and write letters until this is done.