Matt Taibbi: Why is the Fed Bailing Out Qaddafi?

[Winehole23]

Barack Obama recently issued an executive order imposing a wave of sanctions against Libya, not only freezing Libyan assets, but barring Americans from having business dealings with Libyan banks.


So raise your hand if you knew that the United States has been extending billions of dollars in aid to Qaddafi and to the Central Bank of Libya, through a Libyan-owned subsidiary bank operating out of Bahrain. And raise your hand if you knew that, just a week or so after Obama’s executive order, the U.S. Treasury Department quietly issued an order exempting this and other Libyan-owned banks to continue operating without sanction.

http://www.rollingstone.com/politics...ddafi-20110401

[EVAY]

Wtf?

[baseline bum]

Wow. I can't wait to see the story coming up in a couple of weeks. Props to Bernie Sanders for making it possible to know about this outrage.

[EVAY]

Was, this, as some poster asserted on the Rolling Stone site, an April Fool's joke?

[Winehole23]

Is this?

http://www.treasury.gov/resource-cen.../20110304.aspx

[Winehole23]

I vaguely recall seeing something about this in Bloomberg. I'll see if I can find it.

[Winehole23]

http://www.bloomberg.com/news/2011-0...in-crisis.html

[Winehole23]

“There was an uneasy detente between the United States and Libya” when the loans were made, said William Poole, senior economic adviser to Merk Investments LLC and a former president of the Federal Reserve Bank of St. Louis. “It would not happen in the morning.”