Korea Development Bank to Sell Short-Term Debt to Fed

[RonPaulR3VOLUTION]

Korea Development Bank to Sell Short-Term Debt to Fed

Oct. 28 (Bloomberg) -- Korea Development Bank was approved by the Federal Reserve to sell as much as $830 million of commercial paper to the U.S. central bank.

State-run KDB can raise $400 million in the U.S. by selling short-term notes, Sung Joo Yung, a spokesman for the Seoul-based bank, said today by telephone. The bank will roll over an existing $430 million of debt, he said.

Kookmin Bank, South Korea's largest, was also deemed eligible to sell commercial paper to the Fed, spokesman You Jung Youn said by telephone from Seoul. The amount of debt Seoul-based Kookmin will sell hasn't been determined, he said.

http://www.bloomberg.com/apps/news?p...eAU&refer=home

http://www.tickerforum.org/cgi-ticke...www?post=69066

[Dr.3D]

Yeah, why not let the U.S. bail out the rest of the world? It isn't like it's real money or anything. They can just type it into a computer and zip, it suddenly becomes money.

[Sarge]

Insane.

They better not try and come back for more money.