DRUMZ .org | The Pulse of Activism™

How the US sent $12bn in cash to Iraq. And watched it vanish | Iraq | Guardian Unlimited
This is sick. How many schools, hospitals or libraries could this have built? And is there where all those bank/ATM fees go? Is this REALLY what they do with the money?

-- (from wikipedia) --
"The Federal Reserve Banks are nominally 'owned' by private 'member banks' (in that each member bank owns nonnegotiable shares of stock in its regional Federal Reserve Bank; see below).

In Lewis v. United States,[2], the United States Court of Appeals for the Ninth Circuit stated that 'the Reserve Banks are not federal instrumentalities for purposes of the FTCA [the Federal Tort Claims Act], but are independent, privately owned and locally controlled corporations.' ...

... The member banks are generally privately owned corporations. The stocks of many of the member banks are publicly traded.
--