One more way Americans show we're just not that bright

Okay, remember oh, so long ago, the big banking financial crisis/scandal/debacle we had that almost brought down our--the world's largest--economy and then, for good measure, the world's economy, too?

Remember that?

Yeah, I thought so.

Remember, too, how the Feds brought a bunch of bankers into the room on Dubya's watch and forced them all to sign that piece of paper and promise to take the multi-billion dollar loans?

Hopefully you heard or read about that.

Well, it all happened and the reasons for the collapse were stupid and irresponsible and then the reasoning behind the loans was questioned--and then later ridiculously, absurdly blamed on the successor to Dubya', the black guy, 'cuz, hey, that's just fun--and then no one was held accountable or responsible for all the insane, illegal home mortgage loans that were created and signed off as AAA rated but actually they were junk.

Okay, confusing, sure but follow me here.

Anyway, we came out, on the other side, a lot worse for wear but at least we're here and not everything has fallen apart.

Well, it just so happens, at the time, that our banks and banking system was falling apart and these big loans were made to American banks, to save our collective, financial and economic butts.

But, surprise, surprise, WE ALSO MADE BIG MULTI-MILLION DOLLAR LOANS TO FOREIGN BANKS.

Check it out:

...foreign banks also relied heavily on the emergency lending program. On one day in late October, Dexia, a Belgian-based European bank, and Depfa, a German subsidiary headquartered in Dublin, each drew about $25 billion in overnight loans. That represented about half of the money that was borrowed by 44 banks that day.

Then it gets worse:

The documents also show that the Arab Banking Corporation took out loans from the discount window during the financial crisis. The central bank of Libya owns a large stake in that bank, according to the bank's web site.

We made big multi-billion dollar loans to an Arabian bank?  Don't they have all our oil money?  Isn't that enough?

Vermont's Senator Bernie Sanders said it best when, yesterday,  he called the Fed discount-window lending "welfare for the rich and powerful."

What conclusion can you come to but that we Americans seem to be the world's largest patsy?

If not humanity's.

And history's.

I wish this were an April Fool's joke.

Try to have a great weekend, y'all.

Link:  http://news.yahoo.com/s/ap/us_fed_crisis_lending