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  • Rep. Paul planning hearing on Fed foreign lending

    04/02/2011 5:27:34 PM PDT · by rabscuttle385 · 65 replies
    Reuters ^ | 2011-04-02 | Mark Felsenthal
    WASHINGTON (Reuters) - Persistent Federal Reserve critic Representative Ron Paul plans to hold a hearing on the U.S. central bank's emergency loans to the branches of non-U.S. banks, his spokeswoman said on Saturday. "I was surprised and deeply disturbed ... to learn the staggering amount of money that went to foreign banks," Paul said in a statement. "These lending activities provided no benefit to American taxpayers, the American economy, or even directly to American banks," he said.