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|User Info||Letter Against Bailing out Foreign banks; entered at 2008-09-20 03:18:27|
Registered: 2007-09-02 CA SF Bay
The Fed increased temporary currency agreements, or "swap
lines," that it already has in place with the European Central
Bank to $110 billion and with the Swiss National Bank to $27
It also set up new swap lines of $60 billion with the Bank of Japan,
$40 billion with the Bank of England, and $10 billion with the Bank
Why in God's name are we bailing out foreign banks?
I think it is probably unconstitutional.
What do you think?