Oddball
Unobtanium Member
Don't spoil booboo's manic paranoid ravings with the facts.The Fed spent $9 trillion in Bush's last 4 months and they didn't ask Congress for approval.
The Fed has not spent $9 trillion. What the Fed has done is "invested" - meaning that they have swapped assets - a little less than a trillion dollars, still a lot, but not $9 trillion. That number is a reference to all the liabilities, explicit and implicit, the Fed has guaranteed.