Loading ...If this is of interest please read the whole thing. There is no oversight of this private company who handles EVERY financial transaction in the USA and many other countries.
Excerpt:
The public doesn’t know about DTCC because it’s a privately-owned depository bank for institutional and brokerage firms only; it processes all of their book entry settlement transactions. McNeff said “There’s no need for the public to know about us… it’s required by the Federal Reserve that DTC handle all transactions.”
CCLI’s research demonstrated that the Federal Reserve Corporation, a/k/a The Federal Reserve System, is also a private company and is not an agency or department of the federal government. The Federal Reserve Board of Governors is listed, but they are not the owners. The Federal Reserve Board, now chaired by Ben Bernanke, serves merely as a liaison advisory panel between the Federal Reserve’s owners (see page 18) and the federal government.
Read the rest here:
DTCC: The little-known, $20 trillion company
http://proliberty.com/observer/20081025.htm