How a Libya-owned bank borrowed from Fed in crisis
Michael Babad
Globe and Mail Update
Published Friday, Apr. 01, 2011 7:46AM EDT
I assume that all of that Libyan loan, as is usual for that part of the world, conveniently disappeared in part or in whole into various open pockets.
No wonder the Fed tried to hide this shameful "lending". Bailing out Hypo was probably futile but at least it makes some sort of financial sense. Giving money to Libya's central bank was just stupid.
Who do we punish and how do we punish them?
Should Obama and Bernanke both be arrested? Why is Congress not deliberating on arrest motions as we speak?
America, where are you now, don’t you care about your sons and daughters?
Another chapter for the IMPEACHMENT FOLDER!!!!
That foreign banks were given US taxpayer funds is reason enough for Congress to demand Bernanke’s immediate resignation and begin some serious overhaul of the Federal Reserve itself.
Some additional links....
Federal Reserve lent to Gaddafi-owned bank
How a Libya-owned bank borrowed from Fed in crisis
Sanders Questions $26 Billion Credit For Libyan Bank Bank Exempted From US Sanctions
Those sanctions were a joke from the get-go, with a loophole big enough that Congress and the media should've been screaming bloody murder. But they didn't, did they, and now we know at least one of the reasons why.
This is just more republican slander and hate mongering. Our appointed, err/umm chosen leaders would never do anything against the interest of our beloved country. /s
Makes me wonder what the Brits are up to...
Maybe this whole war on Libya is to keep daffy from telling all.
Like we needed one more reason to hit the Constitutional RESET switch.
So a long as the interest was above the inflation rate for the period the loans were outstanding, then the country is richer for having made the loans. Plus they helped mitigate a world wide financial crisis.
I applaud the FED for these actions.
Who was Obama’s bagman in Tripoli? Someone had to go to Libya to collect Obama’s cut.
Everbody feel safer now that the democrats rule?
Wonder how many will vote this next election?.