GOVEROTRAGEOUS: Why won’t the FED tell us? They don’t have to. It’s a private club!

http://www.lewrockwell.com/cummings/cummings60.html

Where Did the Money Go?
by Richard Cummings

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Fed Chairman Ben Bernanke has resisted calls from Congress that he release the names of the banks that were recipients of the bailout money the Fed gave to AIG to prevent it from collapsing. AIG insured its counterparties against losses from mortgage-backed derivatives. The Fed poured $85 billion into AIG, which paid out $37.3 billion of that money to counterparties that had purchased a certain type of derivative-based protection from AIG, called multi-sector credit default swaps.

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Seems like a fair question.

So what rathole DID our money go down?

And, what rat got fat on it!

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