Wednesday, January 14, 2009

"If we told you (where the bailout money is going)..."

"...they would stop taking the bailout money."

Fed Vice Chair Donald Kohn testified before the Financial Services Committee today, along with John Bovenzi of the FDIC. The Fed's balance sheet has expanded by $1.2 trillion since September 1. Where did the money go? Kohn wouldn't say.

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