I thought the haunted house I went to in Elysburg, PA spooked me, but it's nothing compared to what I'm feeling as we learn that the Fed is refusing to disclose details on $2 trillion worth of emergency loans issued to financial institutions.
This story isn't garnering nearly as many headlines as it should, and we should all give kudos to Bloomberg News for filing a Freedom of Information Act to force disclosure of exactly who the heck is getting all this money, and what kind of collateral they're putting up. Taxpayers should know how their money is being spent! Especially when the dollar amounts have hit the trillions with zero guarantee of a successful result.
I have an idea. Let's take one measly billion out of these bailout plans, and use it to get some homeless veterans off the street. At least we'd have something to feel good about.
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Monday, November 10, 2008
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