Some things we do already know about the loans. For example, the Fed has loaned money to random companies like Red Roof Inn, according to Matt Stoller in a posting today on the Naked Capitalism blog. We also know the Fed funneled $13 billion through AIG to Goldman Sachs. Stoller calls that
a direct transfer of $80 from every working American to the employees of Goldman Sachs.The Fed has a lot of real power, Stoller says. But it doesn't always know what it's doing. The Federal Reserve missed the speculative bubbles that burst over the past decade.
It should be interesting.
