This week in the news #67 –or– “Oh, what the heck. I’ll laugh anyway.”
Wednesday, 1 December 2010
US TO BAILOUT EU
European banks took big slice of Fed aid
US Ready to Back Bigger EU Stability Fund: Official
Fed IDs companies that used crisis aid programs
Foreign banks also benefited from the Fed's aid. They included Swiss bank UBS, which borrowed more than $165 billion, Deutsche Bank ($97 billion) and the Royal Bank of Scotland ($92 billion).
We’ve said it before differently. It bears repeating. That slice of foreign aid alone amounts to no less than 50 times the cost of the Twin Towers. I’m sure it’ll all be worth it in the end though. Just look at what we’ve achieved as a nation in the intervening decade. Our salad days lie ahead!
