Financing the world…

We’re beginning to find out just  how big a chunk of federal emergency aid European banks got,  and businesses.   The feds pretty much gave the entire world short-term financing,  and there’s not a chance in hell it will be repaid properly.

But wait — there’s more!  Now we’re going to  bail out the EU some more,  even though the  EU is going to Hell in  a hurry.   Nicole Gelinas exposes another  dirty little secret about Europe’s financing.

The only good thing about the Dodd/Franks bill was that it forced the Fed  to reveal certain loans,  but there is $885 billion that we still  know nothing about.   Be sure to read the Wall Street Journal’s take,  here.