America being looted by foreigners and politicans? Via the Fed?

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Guess Who Benefited Most from Fed‘s ’Discount’ Loan Program? Foreign Banks

So if I explained that the Federal Reserve has a “discount window” lending program, that works as its primary vehicle for providing cash to banks to help them avert a liquidity squeeze, who do you think benefited most from that program during the financial crisis? If you said U.S. banks, you’re wrong. If you said foreign banks, ding ding ding!

According to Bloomberg News, “The biggest borrowers from the 97-year-old discount window as the program reached its crisis-era peak were foreign banks, accounting for at least 70 percent of the $110.7 billion borrowed during the week in October 2008 when use of the program surged to a record.”

Now isn’t that interesting. So who exactly are those foreign borrower? They include European, Chinese, and even Libyan-affiliated borrowers. Bloomberg explains:

Dexia SA (DEXB), based in Brussels and Paris, borrowed as much as $33.5 billion through its New York branch from the Fed’s “discount window” lending program, according to Fed documents released yesterday in response to a Freedom of Information Act request. Dublin-based Depfa Bank Plc, taken over in 2007 by a German real-estate lender later seized by the German government, drew $24.5 billion. [...]

Bank of Scotland Plc, which had $11 billion outstanding from the discount window on Oct. 29, 2008, was a unit of Edinburgh-based HBOS Plc, which announced its takeover by London-based Lloyds TSB Group Plc in September 2008. [...]

Other foreign discount-window borrowers on Oct. 29, 2008, included Societe Generale (GLE) SA, France’s second-biggest bank; and Norinchukin Bank, which finances and provides services to Japanese agricultural, fishing and forestry cooperatives. Paris- based Societe Generale borrowed $5 billion that day, and Tokyo- based Norinchukin borrowed $6 billion. [...]

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“What in the world are we doing thinking we can pass out tens of billions of dollars to banks that are overseas?” he added. “We have problems here at home with people not being able to pay their mortgages, and they’re losing their homes.”

The Fed and Chairman Ben Bernanke had fought for two years to keep the information secret, saying it could lead people to think some banks are weaker than they are. But the Fed eventually had to honor a Freedom of Information Act request.

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read more here and watch news story - http://www.theblaze.com/stories/guess-who-benefited-most-from-feds-discount-loan-program-foreign-banks/

Original story here - http://www.bloomberg.com/news/2011-04-01/foreign-banks-tapped-fed-s-lifeline-most-as-bernanke-kept-borrowers-secret.html

Does anyone ever pay these loans back? If you looked at the almost 100 year history of the Fed, how much money has been lost?

Which investments benefited from all these loans to foreign banks? The investments of wealthy global players? American politicians? Washington insiders?

How many of these same folks had investments that benefited from the AIG bailout? AIG pass through to banks and giant hedge funds?

Isn't there something in the law that says if you take money from the Fed, Congress or the DOJ can have access to all your investor records? (kinda like the DOJ has access to the employment records of Coke for creating statistical discrimination cases and passing out millions to African Americans...)

I don't hear any of these people crying for Americans losing jobs, homes, and the financial futures of Americans as they are being destroy by debt, inflation, and loss of retirement investments.

Why do all these loans have to come off the backs of little people on Main Street?

Is the Fed and it's special interests looting the hard work of generations of Americans? Over and Over?

just my humble opinions and concerns