The $16 trillion figure isn't what it cost us.
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Originally Posted by onwebcam
The U.S. Federal Reserve gave out $16.1 trillion in emergency loans to U.S. and foreign financial institutions
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Seems to me most of that money was loans.
I've grown tired of big headlines that shock us, but are totally misleading. It's not long about reporting news, it's about generating shocking headlines to get our attention. It's wrong.
But this is interesting...
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Of the $16.1 trillion loaned out, $3.08 trillion went to financial institutions in the U.K., Germany, Switzerland, France and Belgium, the Government Accountability Office's (GAO) analysis shows.
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That's stunning.