‘The Federal Reserve decided we should pay 100 cents on the dollar.’

Liddy revealed, under oath, among other things, that:

‘When the Federal Reserve set up Maiden Lane, they took on responsibility for settlement of all the CDS.’

‘The Federal Reserve decided we should pay 100 cents on the dollar.’

The bottom line is that the testimony was that The Fed decided to settle the contracts in a non-economic manner that resulted in screwing the taxpayer by transferring more than $100 billion dollars of taxpayer money out to these banks when the cash value at the time was FAR LESS! Some of these instruments were trading on the open market for pennies on the dollar. The allegation just made by Liddy is that Bernanke and The Fed literally stole $100 billion dollars from you and I by intentionally and wantonly overpaying on the settlement of these contracts! FULL STORY.