Relevant:
- Monetary Watch May 2011, QE III courtesy of the private banks
- The Federal Reserve ADMITS that Its 12 Banks Are PRIVATE - Not Government - Entities
- Do You Realize That The Government Is Still Paying Banks Not To Lend
- Bailouts: catching a falling knife
- Federal Reserve Board Members Gave Their Own Banks $4 Trillion in Bailouts
2012-10-10 — usnews.com
``One benefit of private clearinghouses is that historically they would lend to member banks that merely needed cash, but would not lend to member banks that were insolvent. The other members would never agree to bailouts at their expense. Contrast this with the Federal Reserve System that today bails out irresponsible banks when they get into trouble and can pass the expense on to taxpayers.''
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