[snowsislander]

I simply don't believe that financing the Central Bank of Libya was actually necessary to keep the world's financial system afloat.

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.

[Toddsterpatriot]

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.

The loans were fully collateralized. And repaid.