Monday, 3 January 2011

You Gotta Pick A Pocket Or Two Boys.............

Check out these reports in the Washington Post about how the U.S. Federal Reserve secretly used over $3Trillion to bail out banks and companies during the Financial Crisis. 

1. Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms

2. Fed data reveal wide scope of loan action during financial crisis

plus this page on the Federal Reserve Website

Usage of Federal Reserve Credit and Liquidity Facilities

On the right hand side of this page it lists all the different facilities they invented to pump money into the banks.  Just click on them to find out more about them.