Wednesday, September 28, 2011
Secret Banks & Bureaucrats
So, there is an off-the-books bank operating within Treasury that has unlimited borrowing limits from Treasury. The bank is run by Treasury officials.
What we learn is that the bank came into existence in 1973.
So, how does a new Administration even learn that such a bank exists?
Bureaucrats and the institutional memory they represent, usually. The real secrets of the republic are hidden in places known only to the bureaucrats charged with their maintenance, and probably revealed very selectively. The bureaucrats are the machine of Government.
Keep that in mind when Restoration is front & center.
Here is the piece by Liz MacDonald.
Posted by K at 8:28 PM