Federal Reserve credit extended (called Reserve Bank Credit on the FED’s balance sheet) was $891,743,000,000 on January 2, 2008.
On February 4, 2009, Reserve Bank Credit is $1,840,746,000,000.
This is an increase of 106 percent in 13 months.
Now that’s a credit boom!!!
Can Bernanke blame that on any of the long list of culprits he has publicly mentioned?
