I’m not sure why the the $350 billion or $700 billion is always floated out there. It is ALREADY MUCH WORSE than that - they have already loaned out $2 TRILLION in other loans to unknown recipients (caps are mine):
“Nov. 10. 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.
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.”
That is unsat. 2 trillion and not even beginning to help and nobody knows where the money truly is. This is a mess. I guess sometimes I wish I was one of many Americans were are ignorant of everything and think everything is hunky doory. lol...not really it is better to be informed.
My, they are sneaky with our money.
What if one of them gave me a couple grand and told me to go buy them a specific item.
When I come back and don’t tell them what I bought, ya think it would be OK with them?
>>Americans have no idea where their money is going or what securities the banks are pledging in return.”<<
They probably don’t want to reveal how much taxpayer $$$ went to foreign entities.
The FED is not the TREASURY.
Repeat.
The FED is not the TREASURY.