Posted by | 12.01.2010 at 8:59 PM
The Fed has been forced to open its books and reveal recipients of "emergency" loans at the height of the 2008 financial collapse. Unsurprisingly, the news ain't pretty. Read about $3.1 trillion loaned to Goldman Sachs, Merrill Lynch, Morgan Stanley and Citigroup, unsecured loans for McDonald's, Verizon and Harley-Davidson, plus over $550 billion in MBSs handed over to foreign banks to "save the American economy".
I'd laugh but it's actually really sad.