In a stunning example of how far the current administration is buried up the tail-end of Wall Street, the Fed has extended the emergency loans to private Wall Street firms:

"The Federal Reserve said Wednesday it is extending its emergency borrowing program to Wall Street firms and is taking other steps to ease a severe credit crunch that has hobbled the national economy.

"The Fed said the program, where investment houses can tap the central bank for a quick source of cash, will now be available through Jan 30. Originally the program, started on March 17, was supposed to last until mid-September.

"Another program, where investment firms can temporarily swap more risky investments for super-safe Treasury securities also will continue through Jan. 30, the Fed said. And, it also will let commercial banks, in a separate program, bid on cash loans that last longer -- for 84 days, besides the 28-day loans now available."

So, we're paying OUR taxes for loans to private Wall Street brokerage firms who made bad investments with OUR money in order to keep them from losing OUR money and keep their salaries?

Wall Street is out of control and they're double-dipping from the American people.

Are we angry enough yet?

www.crazymanseconomics.com