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Started By
Message
1
Posted on 1/13/26 at 8:53 am to ChatGPT of LA
quote:
Wrong, they make money and after expenses, are "supposed" to return surplus to the government.
Correct, however, the entity itself is not supposed to receive a profit.
quote:
Instead of several billion being returned to the treasury, Powell has been secretly approving cost overruns, with no accountability.
I was unaware of this. And Powell should definitely be held accountable if this is what he is doing. Who is Powell accountable to?
Posted on 1/13/26 at 8:53 am to realbuffinator
quote:
realbuffinator
Keep up, big guy.
Posted on 1/13/26 at 8:54 am to ChatGPT of LA
Why are the renovations $2.5 Billion dollars for a 275k sqft building???
More expensive than the Las Vegas Raiders stadium. More expensive than the new Yankee Stadium. More expensive than JerryWorld. Come in something isn’t right there.
More expensive than the Las Vegas Raiders stadium. More expensive than the new Yankee Stadium. More expensive than JerryWorld. Come in something isn’t right there.
Posted on 1/13/26 at 8:56 am to BugAC
quote:
Who is Powell accountable to?
The reserve reports basically to congress....but Powell really hasn't had to be accountable until now....thats the catch. Billions upon billions of overruns, with his approval
Posted on 1/13/26 at 8:56 am to ChatGPT of LA
quote:
5. The real “cost” to the public
The only public impact is indirect:
If the Fed spends more internally,
Less profit might be remitted to the Treasury later
Which could marginally affect deficits
Posted on 1/13/26 at 8:58 am to ChatGPT of LA
They should just turn on one of their office jet pro printers and pay cash money to the contractor
Posted on 1/13/26 at 9:00 am to boogiewoogie1978
quote:
What you are descripting is a conflict on interest. If the Fed earns significant profits, its decisions could be influenced by revenue goals rather than economic stability.
quote:
2. How Fed “income” really works
The Fed earns money mainly from:
Interest on U.S. Treasury bonds it holds
Interest on mortgage-backed securities
Bank service fees
That income:
Pays operating expenses (staff, buildings, IT, security, renovations, etc.)
Any leftover profit is sent to the U.S. Treasury
Your move cupcake
This post was edited on 1/13/26 at 9:01 am
Posted on 1/13/26 at 9:00 am to Victor R Franko
quote:
Let me tell you how things work in the real world, not Government world.
Don't talk down to me. I don't need some octogenarian telling me how things work in the real world, when i have been working in the real world for over 20 years. Yes, you have more experience than i do, but i've acquired quite a bit myself.
quote:
Before I retired I worked a career with a very large, worldwide engineering company.
Jacobs?
quote:
For every project, each person working was billing to the project for computers, cubicle space, software, anything that employee was using is charged to the project they're working on.
Again, i know more than you think about all of this.
quote:
So in a real world situation, the Federal Reserve cost of office space, regardless of who is renovating as it's all cost of total building ownership
Yes, in "real world". DC and the GSA isn't exactly "real world". The fact that Powell is not being held accountable for his overruns is something that would not be tolerated in the real world and you know that.
quote:
must or should cover the cost of the renovation out of the proceeds they're making from loaning money to the banks.
I agree. However, the fed is actually doing this. However, their "costs" are spiraling out of control therefore their operating costs are increasing. Therefore, they will not operate at a loss, because their operating cost increases are covered by the interest from securities.
What is becoming abundantly clear, is not that the policy of the fed regarding the income it's generating is the problem, the problem is that Powell is approving cost overruns and is not being held accountable.
quote:
Don't reply to me, you won't change my mind or convince me of anything otherwise.
Tough shite.
And, for the 3rd time, for all of the crayon eaters, i'm not agreeing with Powell's overruns. Hell, im not really disagreeing with most of the posters on here. Just being rational and not emotional. In fact, i agree with most of what is being said. NOT EVERYTHING IS A BATTLE.
This post was edited on 1/13/26 at 9:03 am
Posted on 1/13/26 at 9:05 am to ChatGPT of LA
quote:
The reserve reports basically to congress....
Part of the problem.
quote:
but Powell really hasn't had to be accountable until now....thats the catch. Billions upon billions of overruns, with his approval
Billions? Again, i haven't been following this as well as you. That's absurd to have billions in overruns on any project. Sounds like Powell needs to be removed immediately (i know this isn't a revelation, lol).
Posted on 1/13/26 at 9:08 am to UAinSOUTHAL
quote:
Why are the renovations $2.5 Billion dollars for a 275k sqft building???
You mean $5500/sqft isn't reasonable cost for a renovation?
Posted on 1/13/26 at 9:14 am to BugAC
Total cost is billions....just the overruns to this point are $700M, on an original 1.9B project
Making it nearly 40% overrun.
Thats fricking criminal
Making it nearly 40% overrun.
Thats fricking criminal
Posted on 1/13/26 at 9:17 am to ChatGPT of LA
quote:
.just the overruns to this point are $700M, on an original 1.9B project
I don't understand how a building costs $1.9B to renovate, nor even construct. Bridges don't cost that much.
quote:
Making it nearly 40% overrun.
Thats fricking criminal
The original budget needs to be examined also. This is more DC math. There is no possible way any commercial building costs roughly $2 billion. I don't think people actually understand how much money that is.
The GSA needs to be doged pretty hard.
Posted on 1/13/26 at 9:30 am to BugAC
quote:
The original budget needs to be examined also. This is more DC math.
Thats what's being done now. They asked for records and they weren't provided. Since Powell is in charge, he received the newest paperwork under the threat of indictment if he doesnt produce.
Seems weird he wouldn't just hand all info over.
I wonder why? Hmmmmmmmmmm
Posted on 1/13/26 at 9:37 am to BugAC
quote:
Keyword: FEDERAL
It’s not. It’s supposed to be independent of the govt and made up of large private banks. Yet the chairman is appointed by the executive branch but the executive cannot fire the chairman.
What a complete clusterfrick the Fed is
Posted on 1/13/26 at 9:37 am to ChatGPT of LA
quote:
Your move cupcake
First, I never said they didn't make money. I said they are not designed to make a PROFIT.
Second, you conveniently left off this part in your response.
quote:
This could undermine public trust in its independence..........................which is where we currently are.
While sending leftover profits sounds good, it can create political, economic, and perception risks that compromise the Fed’s independence and stability. So it is not designed to turn a profit and explains where we are in the current situation we are.
Posted on 1/13/26 at 9:44 am to ChatGPT of LA
Posted on 1/13/26 at 3:34 pm to BugAC
POWELL ADDED TRILLIONS IN UNNECESSARY US DEBT
https://joehoft.com/corrupt-fed-head-jerome-powell-added-trillions-in-unnecessary-us-debt/
https://joehoft.com/corrupt-fed-head-jerome-powell-added-trillions-in-unnecessary-us-debt/
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