Just another Reality-based bubble in the foam of the multiverse.

Monday, April 18, 2011

no funding shortage for a 4th war


The State Department has secretly financed Syrian political opposition groups and related projects, including a satellite TV channel that beams anti-government programming into the country, according to previously undisclosed diplomatic cables...

Yes, but how else will the Free Market enter a dictator-run country?

Last week, when the Federal Reserve finally released the names of the banks that tapped the central bank's most secret lending program in the wake of the financial crisis many of the expect names were there. Citigroup got over $50 billion in loans. Bank of America was a big borrower, too. Goldman borrowed five times, though the amounts were relatively small. But among the names of banks that got tens of billions in loans from the Fed in order to stay afloat was at least one few expected: The Central Bank of Libya.

In the 18 months following the collapse of Lehman Brothers, a foreign subsidiary of the bank of the government of Muammar Gaddafi received a cumulative $35 billion in short-term loans from the Fed. Libya's Central bank received the loans through a foreign subsidiary called the Arab Banking Corp., which has a branch in New York. At the time of the financial crisis, the bank was 29% owned by the Libyan government. But since then the Libyan government has upped its stake in ABC, as it is known, to 59%. So the main beneficiary of the Fed's help is the Libyan government...

Yes, but how else can we stimulate our economy without someone to fight in the War on Terra?

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