Federal Reserve granted $26 Billion in loans to Libya

Discussion in 'Politics, Religion, Social Issues' started by StruckANerve, Apr 1, 2011.

  1. StruckANerve macrumors 6502

    Dec 31, 2008
    Rio Rancho, NM

    "WASHINGTON, March 31 – Sen. Bernie Sanders (I-Vt.) today questioned why the Federal Reserve provided more than $26 billion in credit to an Arab intermediary for the Central Bank of Libya.

    The total includes at least $3.2 billion in loans that the Fed was forced to make public today in addition to earlier revelations under a Sanders provision in the Wall Street reform law.

    Sanders also asked why the Libyan-owned bank and two of its branches in New York, N.Y., were exempted from sanctions that the United States this month slapped on other Libyan businesses to pressure Col. Moammar Gadhafi’s government.

    “It is incomprehensible to me that while creditworthy small businesses in Vermont and throughout the country could not receive affordable loans, the Federal Reserve was providing tens of billions of dollars in credit to a bank that is substantially owned by the Central Bank of Libya,” Sanders said."

    Am I the only one that is finding it very fishy that our Govt is getting involved in this? It seems too many people on here are supporting American intervention in just about whatever the hell America wants to intervene in. Repubs had Bush and Iraq and now the Dems have Obama and Libya. Anyone really think this is going to be over soon? I don't.
  2. Apple OC macrumors 68040

    Apple OC

    Oct 14, 2010
    maybe Obama will add Syria, Yemen and every other country that starts these revolts to topple their Government ... FaceBook is not just for staying in touch anymore.
  3. KingYaba macrumors 68040


    Aug 7, 2005
    Up the irons
    I support the no-fly zone but this is too much.
  4. CorvusCamenarum macrumors 65816


    Dec 16, 2004
    Birmingham, AL
    I've said all along that Libya was one we should have sat out, although it does seem that every ten or so years, whoever is at the helm of the US government feels the need to whip it out and go beat the snot out of another country.

    That being said, Obama has to be in this for the long haul. From a political standpoint, he simply cannot afford to go down in history as the US president who lost to Gadaffi. If he does, he'll be packing his bags after his first and only term.
  5. Pachang macrumors regular

    Dec 17, 2009
    Bernake would lend money to hitler if he could. Doesn't surprise me.
  6. CaoCao macrumors 6502a

    Jul 27, 2010
    We did this before Libya became a hellhole... So what?
  7. Rt&Dzine macrumors 6502a


    Oct 8, 2008
    It's interesting that soon after Bush appointed him as chairman, the Federal Reserve's power increased dramatically.

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