Libya owned bank got at least $5B from Fed

[redrumloa]

http://www.bloomberg.com/news/2011-03-3 ... risis.html

“It is incomprehensible to me that while creditworthy small businesses in Vermont and throughout the country could not receive affordable loans, the Federal Reserve was providing tens of billions of dollars in credit to a bank that is substantially owned by the Central Bank of Libya,” Senator Bernard Sanders of Vermont, an independent who caucuses with Democrats, wrote in a letter to Fed and U.S. officials.

 

[cybereye]

Federal Reserve job is not to give loans to small businesses, but loans to other banks. The Federal Reserve gave loans to another foreign bank. I am not surprised. That bank has valuation of oil and gas assets. I am sure you have heard of “World Bank”. You should not be surprise that the Federal Reserve is dealing with World Bank as well. Another dumb Democrats seem not to understaind about banking systems.