The World Needs A Breather From The US. By Mike Whitney

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The World Needs A Breather From The US.

 

By Mike Whitney

 

The $13 trillion the Fed has committed to the financial system since the beginning of the crisis --via loans and outright purchases of mortgage-backed garbage and US sovereign debt--was never authorized by Congress. In fact, the Fed stubbornly refuses to even identify which institutions got the "loans", how much the loans were worth, what kind of collateral was accepted for the loans, or when the loans have to be repaid.
http://informationclearinghouse.info/article23214.htm

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