Taxpayers COVERING BANK LOSSES, 'eh?
Yup, we got BILLIONS for BANK BAILOUTS while the rest of the country goes to shit!!
"Fed auctions $75b to ease credit crisis" by Associated Press | June 18, 2008
WASHINGTON - The Federal Reserve has auctioned another $75 billion in loans to squeezed banks to help them overcome credit problems.
The central bank yesterday revealed the results of its most recent auction - the 14th since the program began in December. It's part of an ongoing effort to ease financial turmoil and credit stresses....
In mid-December the Fed said it was creating an auction program that would give banks a new way to get short-term loans from the central bank and to help them over the credit hump.
A global credit crunch has made banks reluctant to lend to one another, which has crimped lending to individuals and businesses.
The smooth flow of credit is the economy's lifeblood. It permits people to finance big-ticket purchases, such as homes, and cars, and help businesses expand operations and hire workers."So when is all that boodle going to make it down to us, huh?
