Thursday, July 23, 2009
“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.
Wednesday, July 22, 2009
Bush like..........
“Congressional Democrats warned President Barack Obama on Tuesday that he sounded too much like George W. Bush when he declared this summer that the White House can ignore legislation he thinks oversteps the Constitution,” the Associated Press reports. The AP adds, “In a letter to the president, four senior House members said they were ’surprised’ and ‘chagrined’ by Obama’s statement in June accompanying a war spending bill that he would ignore restrictions placed on aid provided to the World Bank and International Monetary Fund.”...Link
Update: S 604 has 17 co-sponsors.......
Title: A bill 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.
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