Friday, April 1, 2011

Foreign Banks Tapped Most From Gov't, Bernanke Kept it Secret

$33.5 billion to a bank based in Brussels and Paris.  $24.5 billion to a bank based Germany.  70 percent of the $110.7 given in October 2008 went to foreign investors  "when use of the program surged to a record".  Is it that foreign interests are too big to fail at the cost of the United States?

As this article reports,  "In an April 2009 speech, Bernanke said that revealing the names of discount-window borrowers “might lead market participants to infer weakness.”"  YOU THINK?  I think Rep. Ron Paul put it better when he said, “The American people are going to be outraged when they understand what has been going on.”

 If he had his way, he wouldn't have to be forced to be honest I'd imagine.

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