'Will You Tell The American People Which Banks Got $2.2 Trillion Of Their Dollars?' Bernanke: 'No'

 Bernie Sanders: 'Will You Tell The American People Which Banks Got ...

 

 

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Look for the comment from Bernie Sanders below.

Excerpt from Bloomberg

Arab Banking Corp., a lender part- owned by the Central Bank of Libya, used a branch in New York to borrow at least $5 billion from the U.S. Federal Reserve as credit markets seized up in 2008 and 2009.

The bank, then 29 percent-owned by the Libyan state, drew $1.1 billion from the Fed’s so-called discount window in October 2008, including $450 million during the week when hundreds of financial firms borrowed a record amount of emergency funding from the U.S lending program, according to data released by the Fed today. Arab Banking Corp. also owed about $4 billion to the Fed under other bailout programs in the fall of 2009, data released in December show.

“It is incomprehensible to me that while creditworthy small businesses in Vermont and throughout the country could not receive affordable loans, the Federal Reserve was providing tens of billions of dollars in credit to a bank that is substantially owned by the Central Bank of Libya,” said Senator Bernard Sanders of Vermont, an independent who caucuses with Democrats, in a letter to Fed and U.S. officials.

The letter was addressed to Fed Chairman Ben S. Bernanke, Treasury Secretary Timothy F. Geithner and John Walsh, acting comptroller of the currency. The figure refers to the aggregate amount of loans the bank received under U.S. lending programs.

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Comment by Freedomrox on April 2, 2011 at 2:16pm

Sure, but probably seen this too, but it still makes my blood boil.  Also the link above shows Who was at the Fed's Discount Window all this time that Bernanke would not tell in the video above.

 

For the second outrage, please visit: FEDERAL RESERVE CAN'T ACCOUNT FOR OVER NINE TRILLION, AND DOESN'T CAREhttp://snardfarker.ning.com/profiles/blogs/federal-reserve-cant-acc... 

 

Comment by ew_keane on April 2, 2011 at 1:56am

this is why i buy silver, 30-06, and wholesale staples

 

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