2008-09-30

Bailout Plan just Politics as Usual


"The Fed increased its existing currency swaps with foreign central banks by $330 billion to $620 billion to make more dollars available worldwide. The Term Auction Facility, the Fed's emergency loan program, will expand by $300 billion to $450 billion."

This happened even before the vote.  Why in the world do they need to vote on this $700 billion bailout, when they can just print $630 billion with no oversight whatsoever?  Just a bunch of politicians and their pork.  Disgusting.

http://www.bloomberg.com/apps/news?pid=20601087&refer=home&sid=aP5hzUWla7Jg

No comments: