“I don’t know.”

[Alan Grayson:] “What’s that (the $553 billion amount)?”
[Ben Bernanke:] “Those are swaps that were done with foreign central banks. Many foreign banks are short dollars …”
[Alan Grayson:] “So who got the money?”
[Ben Bernanke:] “Financial institutions in Europe and other countries…”
[Alan Grayson:] “Which ones?”
[Ben Bernanke:] “I don’t know.”
[Alan Grayson:] “Half a trillion dollars and you don’t know who got the money?”
[Ben Bernanke:] “Um, um, the loans go to the central banks and they then put them out to their institutions to try to bring down short-term interest rates around the World.”

Update - HR 1207 - 276 Co-sponsors.........

Title: To amend title 31, United States Code, to reform the manner in which the Board of Governors of the Federal Reserve System is audited by the Comptroller General of the United States and the manner in which such audits are reported, and for other purposes.

Tonights cover is..........