Wednesday, October 01, 2008

Huh? The Great Treasury Heist of 2008…

posted by Bill Arnett @ 12:16 PM Permalink

…is about to happen and nobody seems to care to consider all the angles.

From the HuffPo comes this excerpt from an article titled, "Fed Pumps Further $630 Billion Into Financial System":
The Federal Reserve will [actually already did. Bill] pump an additional $630 billion into the global financial system, flooding banks with cash to alleviate the worst banking crisis since the Great Depression.

The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide. […]

The Fed's expansion of liquidity, the biggest since credit markets seized up last year, came hours before the U.S. House of Representatives rejected a $700 billion bailout for the financial industry.
If they had $630 billion dollars to shore up foreign banks prior to the vote that failed in the House last week, why the hell wasn't that money pumped into to American Banks and financial sectors?

So Congress and the Senate are now snake oil salesmen for the government: Step right on up! Grab all the cash you need! It walks! It talks! It rolls on its belly like a reptile! Come one! Come all! No admission fees required or asked! Not a nickel! Not a Dime! Not a single quarter! Come on down and pick up the billions of dollars you neither earned nor deserved!

Give me a f*ckin' break.

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