Saturday, November 08, 2008

Bloomberg News Challenges Fed

Bloomberg News sues the Fed so as to make them disclose what kind of collateral it accepts for $1.5 trillion of loans to banks.

Good work. The Fed certainly shouldn't be able to perform its operations without full diclosure as to how they do it.


Blogger Reginald said...

The Fed doesn't want the public to realize that the trillions in loans to financial institutions are essentially giveaways, because they're unlikely to ever be repaid. Basically, what many call corporate socialism. Currently, the Fed cannot debase the US dollar fast enough to stop the contraction in money supply due to the massive deleveraging. However, long-term the Fed will catch-up and we may have a return of the US Continental via hyperinflation.

7:01 PM  

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