Where did all the money go?

It is a staggering amount. Even writing out the amount, the number of zeros have to be counted carefully. It is tax-payers dollars and Bloomberg News Services has been trying to obtain information as to where and whom these funds were dispersed:

“The Federal Reserve refused a request by Bloomberg News to disclose the recipients of more than $2 trillion of emergency loans from U.S taxpayers and the assets the central bank is accepting as collateral.

Bloomberg filed suit Nov. 7 under the U.S Freedom of Information Act requesting details about the terms of 11 Fed lending programs, most created during the deepest financial crisis since the Great Depression.”

link

One would think that there would be transparency about these public funds. The lack of disclosure raises a myriad of questions. Not only to whom were these loans made but what were the criteria? Now the question becomes ‘why is this disclosure not readily available to the American public?’. It is their money.

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