Mon 27 Oct 2008
Korea Dumping Dirty Debt on US Taxpayer?
Posted by RichSlick under The Fed
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is reporting that Korea Development Bank has been authorized to dump up to $830 million debt on the US Taxpayer.
Oct. 28 (Bloomberg) — was approved by the Federal Reserve to sell as much as $830 million of commercial paper to the U.S. central bank.
State-run KDB can raise $400 million in the U.S. by selling short-term notes, Sung Joo Yung, a spokesman for the Seoul-based bank, said today by telephone. The bank will roll over an existing $430 million of debt, he said.
A few days ago we found out that pigs were feeding at the trough and now the doors have been opened up for any pig from around the world to feed here.
You’re doing a heck of a job Benny.