Friday, September 26, 2008

Is the $700 Billion Really for Bailing Out the Fed?

Is the $700 billion being disguised as a bailout for banks, when it is really for bailing out the Federal Reserve? Is it a way of avoiding the embarrassment of walking into Congress and admitting the truth of the need for Congress to authorize issuance of new Treasury bills to recapitalize the nation’s central bank?

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