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| User Info | Letter Against Bailing out Foreign banks; entered at 2008-09-20 03:18:27 | |||
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Dbbeebs Posts: 424 Registered: 2007-09-02 CA SF Bay 
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Hello. 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 billion. 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 of Canada. Why in God's name are we bailing out foreign banks? I think it is probably unconstitutional. What do you think? Sincerely, | |||