Friday, April 1, 2011

Foreign Banks Tapped Fed’s Secret Lifeline Most at Crisis Peak


I guess the article by the above title found here would be big news to some, but if you have been reading my blog, you would have known this a long time ago. Click here to see my earlier commentaries on the subject from March 2009.


"AIG, a recipient of at least $170 billion in federal bailout money , got an $85 billion loan from the Federal Reserve. The list released Sunday of "counterparties" that benefited from the bailout is topped by European banks Societe Generale and Deutsche Bank, which received $4.1 billion and $2.6 billion, respectively.

Whaaaatttttt????? European Banks received U.S. Taxpayers dollars while Americans are going hungry and homeless? Does any of the readers remember voting on that one? Did we missed the memo on that? Would any of the readers ever agree to that? Talk about taxation without representation. Americans better wake up from the slumber that the media induced hypnosis has lulled them into before it is too late."

Here is something else that might pi$$ you off a bit.

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