What is the Fed Doing?

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Friday September 16, 2011 · 2:51 PM PDT

2011/09/16 · 14:51

The Fed is now continuing to "secure" foreign banks and foreign govt's debt to the tune of a new $600B in US taxpayer backed "loans".

From Zerohedge: Exclusive: The Fed's $600 Billion Stealth Bailout Of Foreign Banks Continues At The Expense Of The Domestic Economy

http://www.zerohedge.com/...

They bailed out US and international banks in 2009. They finally disclosed, after pressure from Congress, 2 years later their $1.2T in interest free outlay -- equivalent to our annual debt.

Now, they do it again. These are our tax dollars spent with no oversight and apparently no appreciation for the impact of their decisions on the people of the US and our are dire economic straits.

I'm not going Ron Paul here. You can tell me all about the global economy and its web of interrelationships all day. But, I say, that something is wrong when our Federal Reserve acts in it own interests ahead of those of the American people.

Where are Barney Frank and Max Baucus? Oh, never mind...

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