Thursday, December 29, 2011

Fed Official: Fed Is Bailing Out Europe

I will be writing much more on the two large announcements over the past month (the global swap lines opening for the Fed to supply money to European banks and the new ECB LTRO program).  In the meantime, a great interview with a former Fed official Gerald O'Driscoll who says the recent swap lines are a direct bailout from the Federal Reserve to Europe.

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