National Debt Clock

Friday, July 31, 2009

Dem Florida Congressman Alan Grayson Grills Ben Bernanke

Alan Grayson: "Which Foreigners Got the Fed’s half a trillion dollars? "
Bernanke: "I Don’t Know."
Alan Grayson: "Half a trillion dollars and you don't know who got the money?"

"$9 billion for New Zealand, that works out to $3000 for every single person that lives in New Zealand. Seriously, wouldn't it have been better to extend that kind of credit to Americans and not New Zealanders?"

Alan Grayson: "[The] US dollar nominal exchange rate [table]...shows a 20% increase in the US dollar nominal exchange rate at exactly the same time you were handing out a half trillion dollars. You think that's a coincidence?"
Bernanke: "YES"

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