This is astounding. The Federal Reserve - an unelected, unaccountable private entity of truly unknown ownership - has been given the credit card of the United States to gamble nearly half of 2008's entire Federal budget with banks that could collapse. This of course would leave the US taxpayer holding the bag. Worse, foreign banks were given many of these loans meaning that American taxpayers were risking their OWN personal and collective economic future without even knowing it.
Full article here:
Wall Street Aristocracy Got $1.2T in Loans - Bloomberg