This is a article describing what financial institutions our Federal Reserve lent money to during the severe financial crisis of 2008 and beyond. What makes this story so interesting is the number of foreign banks who sought and received taxpayer money to stabilize their balance sheet.
International finance is a extremely complicated area to work within. While we admire those who can flourish in this work environment - it is unfortunate that during this time period - with millions of American homeowners and small businesses in severe financial stress the Fed did not do more to help them.
It just goes to show that when the world needs help it is Uncle Sam they turn to.
http://blogs.wsj.com/economics/2012/08/20/paper-foreign-banks-were-biggest-taf-borrowers/?mod=WSJ_latestheadlines
No comments:
Post a Comment