Without Any Legislative Powers, the Fed Is Rewriting the Law and Creating a Permanent $500 Billion Bailout Facility for Wall Street

by Pam Martens and Russ Martens, Wall St On Parade: The Fed is doing something it’s never been allowed to do in its 109 years of operation. And, it’s doing it without any pushback from Congress. The Fed draws its statutory authority from the Federal Reserve Act of 1913 which created the Fed’s “discount window” […]