SO the Federal Reserve lent Banks around the world 16 trillion dollars. The implication of the article and the above posts is that the Bankers took the money and jetted off to the Bahamas or parts unknown, checked into 5 star resorts and run up tabs drinking from the mini bar using the 16 trillion to pay the bill. A saner explanation might be that if the money had not been provided to help shore up the banks balance sheets then the global financial system might have collapsed and destroyed the economies of all countries as bank deposits became worthless, stock markets only had sellers and loans of all sorts went unpaid. Regardless of the behavior of the people who run the banks, was there any other course of action available? Sure all these unqualified second rate financial minds (who would give their left leg for a high profile job at the Fed) can write articles why a great injustice has been done. If they could even grasp the magnitude of the problems at hand, they would not be able to write a reasonable essay on how to deal with it. Their solution is always "buy gold". Regardless of the problem they always end their articles with something along those lines. No doubt they believe the Banks should have used the Fed money to buy gold... yawn... little one track minds.
