Tuesday, November 11, 2008

Fed theft of Taxpayers' money exceeds $2 trillion

Total Fed lending topped $2 trillion for the 1st time last week & has risen by 140%, or $1.172 trillion, in the 7 weeks since Fed governors relaxed collateral standards on Sept. 14. The difference includes a $788 billion increase in loans to banks through the Fed and $474 billion in other lending, mostly thru MBS purchases from Fannie & Freddie.

read more | digg story

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