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Obama gets caught lying again. Banks have access to 23.7 TRILLION dollars NOT 700B $

YouTube - FED GAVE Banks Access to 23.7 TRILLION DOLLARS NOT $700 Billion!

Watch this MSNBC report for yourself.

Secret Banking Cabal Emerges From AIG Shadows: David Reilly - Bloomberg.com

Quote:

Wednesday’s hearing described a secretive group deploying billions of dollars to favored banks, operating with little oversight by the public or elected officials.

The New York Fed is in the hot seat for its decision in November 2008 to buy out, for about $30 billion, insurance contracts AIG sold on toxic debt securities to banks, including Goldman Sachs Group Inc., Merrill Lynch & Co., Societe Generale and Deutsche Bank AG, among others. That decision, critics say, amounted to a back-door bailout for the banks, which received 100 cents on the dollar for contracts that would have been worth far less had AIG been allowed to fail.