According to the latest biweekly numbers released last Thursday by the Federal Reserve, for the two weeks that ended January 16th American banks had negative $1.3 billion in non-borrowed reserves. This is, historically, extremely unusual; just two months ago they had $30 billion (positive, of course) in non-borrowed reserves. The only reason some banks haven't been shut due to insufficient -- negative! -- reserve requirements is that the Federal Reserve is currently loaning them enough money through the brand new TAF (Term Auction Facility) program (also running in Canada and Europe) to make up their shortfalls. Today's TAF press release says that 52 American banks or institutions are currently receiving loans totaling ~$40 billion -- but the Fed refuses to name who they are. [more inside]
posted by Asparagirl on Jan 29, 2008 - 162 comments

Zeitgeist, the movie [Google Video link embedded] - An interesthing, if bizarre, mix of buffed-up comparative mythology, 9/11 conspiracy theories and New world order rambling about banks, loans, debts and war. Is paranoia the spirit of our times?
posted by Baldons on Jul 26, 2007 - 32 comments

The Illustrated Guide to GOP Scandals
posted by trinarian on May 14, 2007 - 44 comments

UAL asks for a 2$ billion loan from the Feds. And it looks like AMTRAK will get their couple hundred million bucks as well. Transportation seems to be a losing proposition all over. So where's the bailout for the cruise lines?
posted by zoopraxiscope on Jun 24, 2002 - 12 comments