FED Reveals Secret Borrowers

[quote]U.S. Federal Reserve Chairman Ben S. Bernankeâ??s two-year fight to shield crisis-squeezed banks from the stigma of revealing their public loans protected a lender to local governments in Belgium, a Japanese fishing-cooperative financier and a company part-owned by the Central Bank of Libya.

Dexia SA (DEXB), based in Brussels and Paris, borrowed as much as $33.5 billion through its New York branch from the Fedâ??s â??discount windowâ?? lending program, according to Fed documents released yesterday in response to a Freedom of Information Act request. Dublin-based Depfa Bank Plc, taken over in 2007 by a German real-estate lender later seized by the German government, drew $24.5 billion…[/quote]

http://www.bloomberg.com/news/2011-04-01/foreign-banks-tapped-fed-s-lifeline-most-as-bernanke-kept-borrowers-secret.html

What’s your take on this – good, bad, inconsequential?

Ron Paul weighs in:

I expect in the next couple weeks as more and more information is found the dollar to start a sharp decline.

If there is one politician who I think actually deserves to be president it is Ron Paul… He literally is the only politician I can remember seeing who seems to have integrity behind what he says. He speaks with his own mind not for the hidden agendas of others.

He is about the only one that preaches another point of view than Republican or Democrat