Monday, May 10, 2010
Fed bails out Europe!
The Fed has reopened its forex swap lines with the ECB, effectively giving unlimited quantities of dollars to European banks and institutions (and governments)!
The Fed stopped buying Mortgaged Backed Securities here in the U.S. which would have helped American homeowners, but they eagerly rush to bail out the Europeans.
This is beyond outrageous.
Please call, email or write to your Congressional representative immediately and say that the Fed's actions must be stopped!