January 12, 2011

Editor’s note: Trillions for international banksters, nothing for the states.

John Etherington writes:

In testimony on Friday before the Senate Budget Committee, Federal Reserve, Chairman Ben S. Bernanke, was asked specifically about providing assistance to state and local governments facing budget deficits and high borrowing costs. His short answer: It’s not going to happen. Concerns have been mounting recently of a potential crisis in the municipal bonds market because states are struggling to pay off debt thus raising costs for municipal borrowers.

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