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Urge to kill rising.
It wasn't taxpayer money. The 12 Federal Reserve Banks are private nonprofit corporations owned by member banks.
The real question is why was TARP (the taxpayer funded bailout) neccesary at all, when the semi-private Fed was happy to take trash collateral for their TALF (note the 'F', its a Fed program with no congressional oversight) loans.
Except that it was taxpayer money. Look into how the Fed puts more money into the system.
Taibbi is going to get himself shot. Ames and Levine too. Their stuff is required reading in my household.
Separation of power sounds great and all, but it seems like a bit of focused Stalinistic paranoia would really help out with shit like this.
