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Barclays tapped US Fed funds for $1bn

April 1, 2011 by legitgov

Barclays tapped US Fed funds for $1bn 01 Apr 2011 Emergency lending by the US Federal Reserve came to the aid of international as well as American banks during the financial panic of 2008, according to data reluctantly released by the central bank last night. The UK's Barclays at one point borrowed $1bn (£624m) from the Fed's so-called "discount window", meant to provide short-term loans to ease liquidity problems at systemically important institutions, it was revealed. [Arming the Left: Is the time now? By Charles Southwell 21 Oct 2003.]

Comments

Class Warfare.

April 2, 2011 by humbaba (not verified), 3 years 30 weeks ago
Comment: 1718

Thr Bush administration broke open the peoples treasury and envited their banker friends to help themselves

so that there would be nothing left for the poor, elderly, retirees, school children and the middle class.  Burp!

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