The Federal Reserve has finally released the long awaited treasure trove of data concerning the 2008 crisis. While this info has been sanitized, it still holds some very interesting examples of capitalism gone wild. In the coming days and weeks, analyst will be releasing their comments about what they found in the analysis of this release.

Its been less than an hour since the data was made available, and so far the first Global Macro data point I have seen is that South Korea basically imploded. The Federal Reserve was very VERY busy swapping Korea funds. If first read of this info is correct, Korea was the consumer of 9 of the 10 largest swap deals.

The swap agreements have always been a portion of the emergency rescue that I found interesting. They were rolled out to friendly nations. They were not provided to everyone, or even major trading partners. China, Russia and others like them, had no access to the swap lines, but nations like Britain, South Korea, and Canada did.

The data that was made available today here, will be generating a lot of political comments in the near future…

For example…

Allied Irish was bankrupt before the fake Euro stress tests of last summer. The US Federal Reserve loaned the Irish bank 37 Billion dollars to stay afloat during the crisis. The FED, ECB and Irish governments have been propping up these banks for years now, knowing they were black holes.

It appears that Morgan Stanley needed $2 trillion in total supplemental liquidity events… this is truly shocking, but not surprising. Here is a quick run down of the liquidity given to our cousins in crime…

$232 Billion to Barclay’s, $124 Billion to Soc Gen, $123 to Dressner

It is now clear why the US Federal Reserve did not want this data available. It was the liquidity provider to the world during the crisis. The US FED became the World Bank…