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
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