Tell me, what "privately owned" company can be terminated by congress, singly, by just a removal of delated power? Absolutely none.
How many only exist because a single law by Congress? None.
How many "Privately owned" companies have a chairman that is nominated by the President and approved by Congress? None.
How many "privately owned" companies can be called in front of Congress at a whim? Sure, most can but would simply be subject to contempt, the Chairman has to come for many other reasons.
How many "privately owned" companies dividend their entire net income to the US Government?
How many "privately owned" companies are subject to the extensive oversight and audits of Congress?
The Federal Reserve is a quasi-government entity. The member banks are every single NA bank in the country. Those banks have equity but it is known and they get known dividends.
The amount of FUDD out there about the Fed is ridiculous.
I can go through those idiotic videos one by one and shoot each down down quite easily.
For example, asking somebody exactly where the money went for TARP/TALF/CPFF and various other facilities is simply stupid. First, how many entities were borrowing? Was she supposed to list them? Furthermore, $9TR wasn't lost nor was it lent at any single point. It was lent multiple times.
For example, CPFF was rolled daily, weekly, monthly...etc. To say that a single 10,000 loan rolled 100 times is the same as 1mm loan is simply stupid. Furthermore, programs such as CPFF supported many companies which borrowed money from banks through ABCP conduits. Finally, those programs were tracked as shown by Bloomberg.
This is why people like you think you are cool for ripping on the Fed when, in reality, you're just an uneducated loon.