Chatter About the Fed/ECB CCY Swap Line
April 30, 2010 at 14:31 PM EDT
This one’s for the bloggers- Dollar swap lines are functionally unsecured loans to foreign govts. that the Fed can do unilaterally. Congress only finds out well after the fact. Last time around they did $600 billion, including lending (unsecured) to nations Congress never would have approved. The problem is the Fed Chairman insists they [...]