From Washington's Blog:
Documents produced by the Federal Reserve in response to an order from the Supreme Court show that Bernanke loaned billions to foreign banks through its discount window. As Bloomberg - which brought the lawsuit which resulted in the document release - notes:
... "The American people are going to be outraged when they understand what has been going on," U.S. Representative Ron Paul, a Texas Republican who is chairman of the House subcommittee that oversees the Fed, said in a Bloomberg Television interview.
"What in the world are we doing thinking we can pass out tens of billions of dollars to banks that are overseas?" said Paul, who has advocated abolishing the Fed. "We have problems here at home with people not being able to pay their mortgages, and they’re losing their homes."
Indeed, billions of dollars worth of loans went to Libya...
Read full article...
More on bailouts:
A terrible decision is destroying America
END GAME: The Federal Reserve is now bailing out the world
OUTRAGE: The "for-profit arm" of the Obama administration pays NO taxes
View the original article here
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