newsmax.com The true total of Federal Reserve emergency lending to Wall Street is not $1.2 trillion, as Fed Chairman Ben Bernanke contends, nor the $7.7 trillion figure reported by Bloomberg News, which Bernanke publicly contests. The real number, argues economist L. Randall Wray, is a staggering $29 trillion. Wray writes that Bernanke’s recent defense of the lower figure is “misleading” and that the chairman’s claim that Fed bailouts do not constitute a form of spending is plain wrong. to read more click here: newsmax.com
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