View Single Post
Old 10-02-2008, 05:25 PM
stompk's Avatar
stompk stompk is offline
I work for God
Join Date: Jan 2008
Location: In the valley
Posts: 613
Exclamation $367 bil per day borrowed by banks.

Banks have been borrowing $367 billion per day from the Federal Reserve.

NEW YORK, Oct 2 (Reuters) - U.S. banks' direct borrowing from the Federal Reserve shot to a record in the latest week as financial institutions became almost totally reliant on the lender of last resort amid the most severe financial crisis since the Great Depression.

Banks' discount window borrowings averaged a staggering $367.80 billion per day in the week ended Oct. 1, nearly double the previous record daily average of $187.75 billion they borrowed the previous week.
Banks borrow record $367.8 bln per day from Fed | Markets | Markets News | Reuters

I hope the public reads this and realized how badly we are being duped...

Every two days, the $700 billion bailout is being lent to banks, yet being kept quiet in mainstream media. Where does the damned Federal Reserve get this money.

5 days of lending at this rate is nearly 2 trillion dollars a week!
Yet the credit industry is frozen?

Do they think we are stupid??

Reply With Quote