Maiden Lane III: Not a Home Furnishings Store

The Fed is beginning to dole out giant sums of money to banks and insurers without any safeguards or public transparency. "Maiden Lane III," is an LLC established by the Fed to serve as a clearinghouse for this money.

First reported as a breaking news story in National Underwriter Magazine on 3 December here.

There is a great BusinessWeek article here.

$20 billion was just deposited into MLIII (more than the auto bailout). This is the only public record of it. The numbers are staggering.

This is not meant as criticism, or commentary. Simply information.

- J|S