“...Pam Martens is very clear... She points out the reason that the regular newspapers don't report it is the loans violated every element of the Dodd-Frank laws that were supposed to prevent the Fed from making loans to particular banks that were not part of a liquidity crisis. In her article, she makes very clear by pointing out these three banks, Chase Manhattan, Goldman Sachs – which used to be a brokerage firm – and Citibank, that the Federal Reserve laws and the Dodd-Frank Act explicitly prevent the Fed from making loans to particular banks. It can only make loans if there's a general liquidity crisis. And we know that there wasn't at that time, because she lists the banks that borrowed money, and there were very few of them.”
