Federal Reserve: Did the Fed prop up Saddam Hussein?

Via Ron Paul:
Perhaps most sinister are the revelations in Robert Auerbach’s book “Deception and Abuse at the Fed” that $5.5 billion was sent to Saddam Hussein in the 80’s - money that allowed Iraq to build up its military machine to fight Iran prior to the first Gulf War, the very machine turned against our brave men and women within just a few years!  I agree with Bernanke’s characterization of this – it is indeed “bizarre” to think that Americans at the Federal Reserve could engage in this type of behavior, which a some have called “criminal”.  However, Professor Auerbach served as a banking committee investigator, and as an economist at the Treasury Department and at the Federal Reserve.  His claims are hardly without merit.  In fact, they are solidly backed by court rulings and other evidence. 

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