Big Chunk of Fed Bailout Went to Foreign Banks

[HotZ28]

WTF Click Here

[syr74]

That wasn't a bailout. The Fed acts as a lender of last resort during tough economic times in order to make certain that the economy doesn't collapse altogether. It's a safety measure meant to make certain that when banks wont do their job, which is to see that money is distributed and circulated, that job still gets done.

As such the Central Bank loaned money to organizations which should have been able to borrow from private banks but couldn't because the banking system wasn't really working. The happy side of this is that the Fed typically makes a great deal of money doing this, and they did exactly that this time around.

[ericn1300]

Originally Posted by syr74

The happy side of this is that the Fed typically makes a great deal of money doing this, and they did exactly that this time around.

Almost like a conspiracy, we crash the world economy and end up profiting from it. syr74 is right, look at that list as desperate peeps coming to the payday loan sharks to bail them out.

[Shpuker]

O but it gets better, Ford took nearly $16 billion, BMW took over $6 billion, and TOYOTA.... took over $4.5 billion........
http://jalopnik.com/5704575/ford-bmw...yline=true&s=i