Sunday, October 21, 2007

I'm sorry, did I miss something?

Apparently, two banks from OTHER countries, have been authorized to borrow money from the United States Federal Reserve System. I realize we don't have a central bank like most countries, and that in general, the Fed is in fact private, however....

Just because those banks invested in our private individuals mortgages, does not mean our banking system needs to bail them out.....right??

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