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To: Razzz42
Some people were saying the US never gave money to foreign government banks during the meltdown.

No foreign banks received taxpayer funded TARP loans.

Foreign central banks did do liquidity swaps with the Fed.

You can read all about it here.

17 posted on 12/02/2011 11:57:03 AM PST by Toddsterpatriot (Math is hard. Harder if you're stupid.)
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To: Toddsterpatriot

You have got to be kidding me.

Didn’t you bother to read this post with its article esp. page 131 as part of the excerpt? It says, before all the listed banks including the foreign ones receiving bailout monies, that money was lent out under “Broad-Based Emergency Programs” (12/2007 through 7/2010). The dollar amounts are in Billions.

You are quoting some fantasy guidelines usurped by TARP that was crafted by then Secretary of State Paulson and approved by Congress with little or no guidelines on lending during the meltdown.

It took a FOIA lawsuit by a newspaper and others to get the Federal Reserve to release these figures. The word ‘secret’ appears a few times in the report when referring to funding all banks.


20 posted on 12/02/2011 4:00:25 PM PST by Razzz42
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