Thursday, November 21, 2019

Biden Kid, Kerry Kid Got Sweet Fed Loan

It's kinda complicated but here's the outline:  Cokehead Biden and John Kerry's Heinz kid were on the receiving end of Federal Reserve Bank loans of about $130 million.  They used the loans to purchase questionable assets from banks who wanted to dump them for cash.

The TARP program, remember?

It was a sweet deal; if the assets worked out well, the investors made money.  If the assets went sour, the Federal Reserve bailed out the investors.

These were not easy deals to get, by the way.  It appears that "knowing somebody" was important.

Oh, and the Cayman Islands tax-evasion thing?  That was a bonus.

Next time some damn fool tells you that the Federal Reserve is "independent of politics", spit coffee into their face.

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