Re: Why Won't the Federal Reserve Say Who They Gave $2 Trillion To?
Congress gave them there powers and can take it away. If you watched the bailout hearing yesterday they threaten to do just that.
The Treasury and FDIC had a program to forgive debt in situations like this but they had to pay back all the money and there was strings attached. The bankers wanted hard cash and limited limitations and thats what the bailout was.