The Corporate Government
The Federal Reserve announced that it is extending the emergency loans to Wall Street. In an effort to ease the credit crunch the Federal Reserve will allow financial firms to continue to draw loans from the central bank into 2009 and allow them to extend the loan terms to 84 days from the current 28 day loan that are now available. The Federal Reserve in a statement said that it was taking these actions "in light of continued fragile circumstances in financial markets. With this Federal Reserve Action the Financial institutions which have handed out billions of dollars in bonuses and regularly draw billions of dollars in salaries are now able to bolster their financial reserves and continue drawing their exurbanite salaries thanks to the Treasury Money of the People of The United States. Meanwhile, these same companies are foreclosing on People's Home and charging up to 39.99% interest on credit cards. These Credit Card Banks can now borrow the money from the Government at ...