washingtonindependent.com — Amid the clamor over the crisis on Wall Street, the U.S. Treasury’s $700 billion Troubled Asset Rescue Program, or “TARP,” bill and the evolving collapse of the global banking system, little attention has been paid to the extraordinary credit extensions at the Federal Reserve. But these are now without parallel in Fed history, including during the Great Depression.

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As oil prices hit record highs, all indications are that a stubborn conservative minority in the U.S. Senate will stand in the way of sensible energy legislation that would shift tax breaks away from Big Oil, which doesn't need them, and toward renewable energy companies that do. 