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He's getting better on TV
http://therealnews.com/t2/index.php?...4&jumival=8853
HUDSON: The cover story of the giveaway to the banks is that if the Federal Reserve makes loans to the banks, unlimited amounts more than $800 billion for QE2, the banks will have enough money that they can afford to lend more mortgage money to bid up real estate prices to try to reinflate the bubble and that they can lend to small businesses. The reality is that ever since QE1 and QE2, every time there's a loan, the banks reduce their loans to businesses, they reduce their mortgage loans, there's less mortgage refinancing, and in fact, the banks use the money to gamble, mainly abroad in foreign currency and interest rate arbitrage, trying to earn the money back by lending to Brazil, Russia, India, and China.
http://therealnews.com/t2/index.php?...4&jumival=8853
HUDSON: The cover story of the giveaway to the banks is that if the Federal Reserve makes loans to the banks, unlimited amounts more than $800 billion for QE2, the banks will have enough money that they can afford to lend more mortgage money to bid up real estate prices to try to reinflate the bubble and that they can lend to small businesses. The reality is that ever since QE1 and QE2, every time there's a loan, the banks reduce their loans to businesses, they reduce their mortgage loans, there's less mortgage refinancing, and in fact, the banks use the money to gamble, mainly abroad in foreign currency and interest rate arbitrage, trying to earn the money back by lending to Brazil, Russia, India, and China.