But I had to look it up, the following is extremely pertinent
from the Federal Reserve website off its own web pages:
Table 1A. Memorandum Items
Table 1A presents selected items that do not directly affect the Federal Reserve's assets and liabilities but are related to important roles that the Federal Reserve plays. The Federal Reserve Bank of New York acts as a custodian in holding securities on behalf of foreign official and international institutions. Market participants often look for trends in these data to gauge foreign demand for U.S. Treasury and agency securities. This table also presents information on the securities lent by the Federal Reserve under its securities lending programs. As noted in more detail in Lending to primary dealers, the Federal Reserve lends securities from its portfolio of Treasury securities and federal agency debt securities to foster efficient and liquid trading in the market for these securities. When securities are lent, they continue to be listed as assets of the Federal Reserve because the Federal Reserve retains ownership of the securities."
So basically we have some semantics here. Many who support everything that happens in this nation, as long as it happens at the behest of someone with a supposed "D" after their name (Though I don't know that Geithner or Bernanke are really Dems) will argue that putting up the Federal Reserve money as securities to the Biggest Banks doesn't count as a loan.
But the fact of the matter is that once the Biggest Banks lose the money they are fond of placing into exotic trades, they will certainly have no reservations about glomming on to those security funds. Of course, with the exception of people like Kucinich, Ron Paul, Grayson and one or two others, no one seems to talk about this out loud. The American middle class is now so firmly entrenched in fear and exhaustion, they no longer can think straight.
So sins that our fathers and mothers' generation would have never let come to pass are continuing.
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