This is Congressman Alan Grayson questioning Federal Reserve Chairman Ben Bernanke on $550B of loans to foreigners (or 'central liquidity swaps' in Federal Reserve-ese').
Which financial institutions received this money? Bernanke's answer: I don't know.
As the Fed was lending this money, the dollar increased by 30% in value. Grayson asks, was this a coincidence? Bernanke's answer: yes.
Tuesday, July 21, 2009
Alan Grayson: "Which Foreigners Got the Fed's $500B?" Bernanke: "I Don't Know."
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1 comment:
That smug motherfucker Bernake. Those guys think they're above the law. I hope they get hit by a bus.
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