So, how does the Fed boost the economy?

"BAR" <ScrewYou.DeleteThis@Your.Place> wrote in message
news:IqWdnQC2IoNxSEranZ2dnUVZ_r_inZ2d@comcast.com...
> JoeSpareBedroom wrote:
>> "BAR" <ScrewYou.DeleteThis@Your.Place> wrote in message
>> news:IqWdnQS2IoMUSUranZ2dnUVZ_r_inZ2d@comcast.com...
>>> JoeSpareBedroom wrote:
>>>> "Reginald P. Smithers III" <"Reggie is Here "@yahoo.com> wrote in
>>>> message news:z_idnVsMZauqWEranZ2dnUVZ_rqlnZ2d@comcast.com...
>>>>> Short Wave Sportfishing wrote:
>>>>>> On Wed, 12 Mar 2008 07:36:39 -0400, "Reginald P. Smithers III"
>>>>>> <"Reggie is Here "@yahoo.com> wrote:
>>>>>>
>>>>>>> thunder.DeleteThis@TAKEOUTgti.net wrote:
>>>>>>>> On Tue, 11 Mar 2008 14:14:25 -0400, HK wrote:
>>>>>>>>
>>>>>>>>
>>>>>>>>> For what it is worth, a colleague who is rather "connected" in DC
>>>>>>>>> told
>>>>>>>>> me today that he thought Spitzer was being "targeted" for other
>>>>>>>>> reasons.
>>>>>>>>> "The amounts of money the news reports say triggered the bank to
>>>>>>>>> label
>>>>>>>>> them as possibly suspicious are too small for that." But he's just
>>>>>>>>> speculating.
>>>>>>>> I don't know. Lately, I've been reading about PEPs (politically
>>>>>>>> exposed people) and SARs (suspicious activity reports). It seems
>>>>>>>> since 9/11, banks have been using software to spot suspicious
>>>>>>>> activities. The irony, is Spitzer, as AG, put pressure on the banks
>>>>>>>> to have more accountability.
>>>>>>>>
>>>>>>>> http://www.newsday.com/news/local/state/ny-stspitzerbank0312,0,4637246.story
>>>>>>> While $10,000 might not trigger an investigation for everyone. My
>>>>>>> colleague who is very well "connected" in NYC, told me that any well
>>>>>>> connected person should know that anytime a politician transfers a
>>>>>>> large amount of money, it will definitely trigger an investigation,
>>>>>>> no matter who they are or what party they are affiliated with. It
>>>>>>> would not matter if it was the governor of NY, or the mayor of
>>>>>>> Paducah or the police chief of Highland Beach, Md.
>>>>>>>
>>>>>>> My very well connected friend told me they are concerned about
>>>>>>> illegal payoffs, bribes, and payola and they definitely would follow
>>>>>>> up any politician making those large transfers. My friend was not
>>>>>>> speculating, he was just calling it like it is.
>>>>>> There is no $10,000 limit. There isn't a set amount.
>>>>>>
>>>>>> It's all software looking for patterns. Which is the exact thing
>>>>>> that
>>>>>> Spitzer used to get his bad guys.
>>>>>>
>>>>>> The irony is that he didn't understand the system enough to avoid
>>>>>> getting caught himself.
>>>>> I am not aware of any software that would review all banking
>>>>> transactions, but it would not surprise me if there was, but since the
>>>>> Bank Secrecy Act of 1970 financial institutions have been required to
>>>>> file federal forms of any daily transactions that exceed $10,000 or
>>>>> any activity the bank deems as suspicious activity.
>>>>>
>>>>
>>>> If such software existed, why WOULD you be aware of it? Do you work in
>>>> the banking industry?
>>> You just have to know people.
>>
>>
>> I'm looking at a spreadsheet which does certain warning things if profit
>> on a sale dips below X percent. I could probably make it go ding-ding if
>> it saw $10,000.00 elsewhere on the sheet. This is huge. I wonder if the
>> banking industry has anything even close.
>
> You are a simpleton.
>


Why do you say that? Can't spot sarcasm? Or, do you think Reggie right when
he doubts the existence of software that spots transactions of a certain
size?