Thursday, July 23, 2009

Who is getting bailed out?

Silly me. I thought the purpose of the Federal bailout funds was to rescue banks and corporations that were "too big to fail." I (and I suggest, most Americans with me) assumed that meant domestic banks and corporations.

Fortunately, U.S. Rep. Alan Grayson is smarter than I am. He asked Federal Reserve Bank Chairman Ben Bernanke how much of the $500 billion bank bailout went to foreign banks? Mr. Bernanke's answer: "I don't know."

Virtual buckeye to Patrick at Ohio Freedom Alliance.

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