I read an article recently that said that the Fed had been audited and accused of spending billions to rescue offshore banks that were in financial crisis. Now, I'm not going to pretend that I fully understand the pros and cons of such a venture but I will say that it doesn't pass the smell test.
Why are we giving business funding to offshore banks when there are so many things that that money could be doing here at home? "Sorry, all you unemployed workers out there, we can't help you, we have to pay the bank of Egypt this week."
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