"The whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by menacing it with an endless series of hobgoblins, all of them imaginary." ~ H.L. Mencken
First Fed Invoice For Bailing Out Europe Is In: The Damage - $9.2 Billion
Zero Hedge: The first bill to U.S. taxpayers for volunteering to bail out Europe is in. It appears in the past week the New York Fed executed an FX swap with the E.C.B. for $9.2 billion notional of FX swaps.
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