How many banks will file bankruptcy without recent $2 trillion emergency loan from Fed?

Nov.11, 2008 in Market Outlook

How many banks will file bankruptcy without recent $2 trillion emergency loan from Fed?

Fed Hides Destination Of $2 Trillion In Bailout Money

Fails to comply with congressional demands for transparency, underscoring age-old problem of top down socialism and letting the fox guard the henhouse

Paul Joseph Watson
Prison Planet.com
Tuesday, November 11, 2008

The Federal Reserve is facing a lawsuit after it failed to comply with congressional demands for transparency and disclose the destination of at least $2 trillion dollars in bailout funds, underscoring once again the failure of top down socialism and the folly of trusting the foxes to guard the henhouse.
“The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral,” reports Bloomberg.

“Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn’t require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.”

http://www.prisonplanet.com/fed-hides-destination-of-2-trillion-in-bailout-money.html

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