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Alan Grayson: "Which Foreigners Got the Fed's $500,000,000,000?" Bernanke: "I Don't Know."

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This is Congressman Alan Grayson questioning Federal Reserve Chairman Ben Bernanke on $550B of loans to foreigners (or 'central liquidity swaps' in Federal Reserve-ese'). Which financial institutions received this money? Bernanke's answer: I don't know.As the Fed was lending this money, the dollar increased by 30% in value. Grayson asks, was this a coincidence? Bernanke's answer: yes.

Channel: News & Politics
Uploaded: November 30, 1999 at 12:00 am
Author: RepAlanGrayson

Length: 05:12
Rating: 4.9107614
Views: 222140

Tags: Alan  Grayson  Ben  Bernanke  Federal  Reserve  Barney  Frank  dollar  

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bombnom (November 30, 1999 at 12:00 am)
Looks like Congressman Grayson is finally starting 2 C who really runs/owns this country. We gave away the powers of the constitution to the almighty Fed. They snuck the federal reserve act through congress during christmas break. U gotta love "democracy"
joelkeaton (November 30, 1999 at 12:00 am)
whatsa whaquiddy swaps?!
cliffy827 (November 30, 1999 at 12:00 am)
@vagabonddom I think that's awesome. My question is - what are you prepared to do when the dollar collapses?
ChickenSoup4theEars (November 30, 1999 at 12:00 am)
@vagabonddom I heard there's a lot of earthquakes in Costa Rica.
ChickenSoup4theEars (November 30, 1999 at 12:00 am)
@kilokipo cowards.
vagabonddom (November 30, 1999 at 12:00 am)
Im a banker/broker on Wall St. .I believe bending the rules to get rich and put Americans in the poor house is the American way.I could care less for the teachers,construction workers or Wal-Mart drones.I have 4 homes ,3 of which or in other countries.So when I finish gambling with your money I'm heading for costa Rica.Bye slaves.....
Zubirrex (November 30, 1999 at 12:00 am)
@kenspurling How long have you been a member of congress? When did you graduate law school? When did you make your first million?
kenspurling (November 30, 1999 at 12:00 am)
The don't make 'em any dumber that Alan Mark Grayson---- He's genetically inferior.
greenhorns99 (November 30, 1999 at 12:00 am)
lol love that, main reason I like Alan, many republicans don't but this part with Bernanke sounds a bit like questions Ron Paul would ask. Alan even mentioned the constitution, wow. Ben Bernanke's smug stupid face, he's like well the congress gave us this authority so whatever the constitution says who cares, he doesn't care about the constitution, duh!
torque122 (November 30, 1999 at 12:00 am)
@kilokipo Where is the roll call for that vote?
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