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Have You Heard About The 16 Trillion Dollar Bailout The Federal Reserve Handed To The Too Big To Fail Banks?
According to the GAO audit, $16.1 trillion in secret loans were made by the Federal Reserve between December 1, 2007 and July 21, 2010. The following list of firms and the amount of money that they received was taken directly from page 131 of the GAO audit report....
Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
"All Other Borrowers" - $2.639 trillion
This report was made available to all the members of Congress, but most of them have been totally silent about it. One of the only members of Congress that has said something has been U.S. Senator Bernie Sanders.
The following is an excerpt from a statement about this audit that was taken from the official website of Senator Sanders....
"As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world"
So where is everyone else?
Why aren't leading Republicans and leading Democrats crying bloody murder over this report?
This scandal should have been front page news for months when it was revealed.
But it wasn't.
Holly Shit Bat Man.
We threw 18 Trillion into the system immediately after the crash.
We threw another 4.5 Trillion into the system in QE's.
Have You Heard About The 16 Trillion Dollar Bailout The Federal Reserve Handed To The Too Big To Fail Banks?
According to the GAO audit, $16.1 trillion in secret loans were made by the Federal Reserve between December 1, 2007 and July 21, 2010. The following list of firms and the amount of money that they received was taken directly from page 131 of the GAO audit report....
Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
"All Other Borrowers" - $2.639 trillion
This report was made available to all the members of Congress, but most of them have been totally silent about it. One of the only members of Congress that has said something has been U.S. Senator Bernie Sanders.
The following is an excerpt from a statement about this audit that was taken from the official website of Senator Sanders....
"As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world"
So where is everyone else?
Why aren't leading Republicans and leading Democrats crying bloody murder over this report?
This scandal should have been front page news for months when it was revealed.
But it wasn't.
Weird, you mean Dubya allowing and cheer leading the Banksters bubble had other consequences than trillions of dollars of middle class wealth lost?
I'm shocked
http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html
18 Signs That The Global Economic Crisis Is Accelerating As We Enter The Last Half Of 2014
#1 The Bank for International Settlements has issued a new report which warns that "dangerous new asset bubbles" are forming which could potentially lead to another major financial crisis. Do the central bankers know something that we don't, or are they just trying to place the blame on someone else for the giant mess that they have created?
#2 Argentina has missed a $539 million debt payment and is on the verge of its second major debt default in 13 years.
#3 Bulgaria is desperately trying to calm down a massive run on the banks that threatens of spiral out of control.
#4 Last month, household loans in the eurozone declined at the fastest rate ever recorded. Why are European banks holding on to their money so tightly right now?
#5 The number of unemployed jobseekers in France has just soared to another brand new record high.
#6 Economies all over Europe are either showing no growth or are shrinking. Just check out what a recent Forbes article had to say about the matter...
#7 A few days ago it was reported that consumer prices in Japan are rising at the fastest pace in 32 years.
#8 Household expenditures in Japan are down 8 percent compared to one year ago.
#9 U.S. companies are drowning in massive amounts of debt, but the corporate debt bubble in China is so bad that the amount of corporate debt in China has actually now surpassed the amount of corporate debt in the United States.
#10 One Chinese auditor is warning that up to 80 billion dollars worth of loans in China are backed by falsified gold transactions. What will that do to the price of gold and the stability of Chinese financial markets as that mess unwinds?
#11 The unemployment rate in Greece is currently sitting at 26.7 percent and the youth unemployment rate is 56.8 percent.
#12 67.5 percent of the people that are unemployed in Greece have been unemployed for over a year.
#13 The unemployment rate in the eurozone as a whole is 11.8 percent - just a little bit shy of the all-time record of 12.0 percent.
#14 The European Central Bank is so desperate to get money moving through the system that it has actually introduced negative interest rates.
#15 The IMF is projecting that there is a 25 percent chance that the eurozone will slip into deflation by the end of next year.
#16 The World Bank is warning that "now is the time to prepare" for the next crisis.
#17 The economic conflict between the United States and Russia continues to deepen. This has caused Russia to make a series of moves away from the U.S. dollar and toward other major currencies. This will have serious ramifications for the global financial system as time rolls along.
#18 Of course the U.S. economy is struggling right now as well. It shrank at a 2.9 percent annual rate during the first quarter of 2014, which was much worse than anyone had anticipated.
Holly Shit Bat Man.
We threw 18 Trillion into the system immediately after the crash.
We threw another 4.5 Trillion into the system in QE's.
You mean most of that was paid back, QE is assets sitting in the fed and will be sold once the US is out of the Dubya great recession?
18 Signs That The Global Economic Crisis Is Accelerating As We Enter The Last Half Of 2014
#1 The Bank for International Settlements has issued a new report which warns that "dangerous new asset bubbles" are forming which could potentially lead to another major financial crisis. Do the central bankers know something that we don't, or are they just trying to place the blame on someone else for the giant mess that they have created?
#2 Argentina has missed a $539 million debt payment and is on the verge of its second major debt default in 13 years.
#3 Bulgaria is desperately trying to calm down a massive run on the banks that threatens of spiral out of control.
#4 Last month, household loans in the eurozone declined at the fastest rate ever recorded. Why are European banks holding on to their money so tightly right now?
#5 The number of unemployed jobseekers in France has just soared to another brand new record high.
#6 Economies all over Europe are either showing no growth or are shrinking. Just check out what a recent Forbes article had to say about the matter...
#7 A few days ago it was reported that consumer prices in Japan are rising at the fastest pace in 32 years.
#8 Household expenditures in Japan are down 8 percent compared to one year ago.
#9 U.S. companies are drowning in massive amounts of debt, but the corporate debt bubble in China is so bad that the amount of corporate debt in China has actually now surpassed the amount of corporate debt in the United States.
#10 One Chinese auditor is warning that up to 80 billion dollars worth of loans in China are backed by falsified gold transactions. What will that do to the price of gold and the stability of Chinese financial markets as that mess unwinds?
#11 The unemployment rate in Greece is currently sitting at 26.7 percent and the youth unemployment rate is 56.8 percent.
#12 67.5 percent of the people that are unemployed in Greece have been unemployed for over a year.
#13 The unemployment rate in the eurozone as a whole is 11.8 percent - just a little bit shy of the all-time record of 12.0 percent.
#14 The European Central Bank is so desperate to get money moving through the system that it has actually introduced negative interest rates.
#15 The IMF is projecting that there is a 25 percent chance that the eurozone will slip into deflation by the end of next year.
#16 The World Bank is warning that "now is the time to prepare" for the next crisis.
#17 The economic conflict between the United States and Russia continues to deepen. This has caused Russia to make a series of moves away from the U.S. dollar and toward other major currencies. This will have serious ramifications for the global financial system as time rolls along.
#18 Of course the U.S. economy is struggling right now as well. It shrank at a 2.9 percent annual rate during the first quarter of 2014, which was much worse than anyone had anticipated.
More right wing garbage, I'm shocked
Like their Austerity fetish hurt those areas?
What were the right wingers like AEI, CATO, Heritage, etc saying about Dubya's 'home ownership society' and calling for less regulations? Oh yeah, they missed the problems there too...
18 Signs That The Global Economic Crisis Is Accelerating As We Enter The Last Half Of 2014
#1 The Bank for International Settlements has issued a new report which warns that "dangerous new asset bubbles" are forming which could potentially lead to another major financial crisis. Do the central bankers know something that we don't, or are they just trying to place the blame on someone else for the giant mess that they have created?
#2 Argentina has missed a $539 million debt payment and is on the verge of its second major debt default in 13 years.
#3 Bulgaria is desperately trying to calm down a massive run on the banks that threatens of spiral out of control.
#4 Last month, household loans in the eurozone declined at the fastest rate ever recorded. Why are European banks holding on to their money so tightly right now?
#5 The number of unemployed jobseekers in France has just soared to another brand new record high.
#6 Economies all over Europe are either showing no growth or are shrinking. Just check out what a recent Forbes article had to say about the matter...
#7 A few days ago it was reported that consumer prices in Japan are rising at the fastest pace in 32 years.
#8 Household expenditures in Japan are down 8 percent compared to one year ago.
#9 U.S. companies are drowning in massive amounts of debt, but the corporate debt bubble in China is so bad that the amount of corporate debt in China has actually now surpassed the amount of corporate debt in the United States.
#10 One Chinese auditor is warning that up to 80 billion dollars worth of loans in China are backed by falsified gold transactions. What will that do to the price of gold and the stability of Chinese financial markets as that mess unwinds?
#11 The unemployment rate in Greece is currently sitting at 26.7 percent and the youth unemployment rate is 56.8 percent.
#12 67.5 percent of the people that are unemployed in Greece have been unemployed for over a year.
#13 The unemployment rate in the eurozone as a whole is 11.8 percent - just a little bit shy of the all-time record of 12.0 percent.
#14 The European Central Bank is so desperate to get money moving through the system that it has actually introduced negative interest rates.
#15 The IMF is projecting that there is a 25 percent chance that the eurozone will slip into deflation by the end of next year.
#16 The World Bank is warning that "now is the time to prepare" for the next crisis.
#17 The economic conflict between the United States and Russia continues to deepen. This has caused Russia to make a series of moves away from the U.S. dollar and toward other major currencies. This will have serious ramifications for the global financial system as time rolls along.
#18 Of course the U.S. economy is struggling right now as well. It shrank at a 2.9 percent annual rate during the first quarter of 2014, which was much worse than anyone had anticipated.
More right wing garbage, I'm shocked
Like their Austerity fetish hurt those areas?
What were the right wingers like AEI, CATO, Heritage, etc saying about Dubya's 'home ownership society' and calling for less regulations? Oh yeah, they missed the problems there too...
Have You Heard About The 16 Trillion Dollar Bailout The Federal Reserve Handed To The Too Big To Fail Banks?
According to the GAO audit, $16.1 trillion in secret loans were made by the Federal Reserve between December 1, 2007 and July 21, 2010. The following list of firms and the amount of money that they received was taken directly from page 131 of the GAO audit report....
Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
"All Other Borrowers" - $2.639 trillion
This report was made available to all the members of Congress, but most of them have been totally silent about it. One of the only members of Congress that has said something has been U.S. Senator Bernie Sanders.
The following is an excerpt from a statement about this audit that was taken from the official website of Senator Sanders....
"As a result of this audit, we now know that the Federal Reserve provided more than $16 trillion in total financial assistance to some of the largest financial institutions and corporations in the United States and throughout the world"
So where is everyone else?
Why aren't leading Republicans and leading Democrats crying bloody murder over this report?
This scandal should have been front page news for months when it was revealed.
But it wasn't.
Weird, you mean Dubya allowing and cheer leading the Banksters bubble had other consequences than trillions of dollars of middle class wealth lost?
I'm shocked
http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html
I throw everyone under the bus.
How about you?
Where was the outrage and publicity of this event from our elected leaders and media?
Why under Obama did it take a Supreme Court ruling for this disclosure.
When are you going to own up to the fact that the so called recovery is Keynes policies on Steroids?
18 Signs That The Global Economic Crisis Is Accelerating As We Enter The Last Half Of 2014
#1 The Bank for International Settlements has issued a new report which warns that "dangerous new asset bubbles" are forming which could potentially lead to another major financial crisis. Do the central bankers know something that we don't, or are they just trying to place the blame on someone else for the giant mess that they have created?
#2 Argentina has missed a $539 million debt payment and is on the verge of its second major debt default in 13 years.
#3 Bulgaria is desperately trying to calm down a massive run on the banks that threatens of spiral out of control.
#4 Last month, household loans in the eurozone declined at the fastest rate ever recorded. Why are European banks holding on to their money so tightly right now?
#5 The number of unemployed jobseekers in France has just soared to another brand new record high.
#6 Economies all over Europe are either showing no growth or are shrinking. Just check out what a recent Forbes article had to say about the matter...
#7 A few days ago it was reported that consumer prices in Japan are rising at the fastest pace in 32 years.
#8 Household expenditures in Japan are down 8 percent compared to one year ago.
#9 U.S. companies are drowning in massive amounts of debt, but the corporate debt bubble in China is so bad that the amount of corporate debt in China has actually now surpassed the amount of corporate debt in the United States.
#10 One Chinese auditor is warning that up to 80 billion dollars worth of loans in China are backed by falsified gold transactions. What will that do to the price of gold and the stability of Chinese financial markets as that mess unwinds?
#11 The unemployment rate in Greece is currently sitting at 26.7 percent and the youth unemployment rate is 56.8 percent.
#12 67.5 percent of the people that are unemployed in Greece have been unemployed for over a year.
#13 The unemployment rate in the eurozone as a whole is 11.8 percent - just a little bit shy of the all-time record of 12.0 percent.
#14 The European Central Bank is so desperate to get money moving through the system that it has actually introduced negative interest rates.
#15 The IMF is projecting that there is a 25 percent chance that the eurozone will slip into deflation by the end of next year.
#16 The World Bank is warning that "now is the time to prepare" for the next crisis.
#17 The economic conflict between the United States and Russia continues to deepen. This has caused Russia to make a series of moves away from the U.S. dollar and toward other major currencies. This will have serious ramifications for the global financial system as time rolls along.
#18 Of course the U.S. economy is struggling right now as well. It shrank at a 2.9 percent annual rate during the first quarter of 2014, which was much worse than anyone had anticipated.
More right wing garbage, I'm shocked
Like their Austerity fetish hurt those areas?
What were the right wingers like AEI, CATO, Heritage, etc saying about Dubya's 'home ownership society' and calling for less regulations? Oh yeah, they missed the problems there too...
Look at Europe and Argentina much............
Weird, you mean Dubya allowing and cheer leading the Banksters bubble had other consequences than trillions of dollars of middle class wealth lost?
I'm shocked
http://www.usmessageboard.com/economy/362889-facts-on-dubya-s-great-recession.html
I throw everyone under the bus.
How about you?
Where was the outrage and publicity of this event from our elected leaders and media?
Why under Obama did it take a Supreme Court ruling for this disclosure.
When are you going to own up to the fact that the so called recovery is Keynes policies on Steroids?
Throw everyone under the bus? What are you talking about? Dubya/GOP dug US into such a deep hole, it's taking unprecedented steps to keep US out of GOP depression 2.0
That costs, ALL over the MSM and especially 'left wing sites'
What are you talking about with Obama?
Holly Shit Bat Man.
We threw 18 Trillion into the system immediately after the crash.
We threw another 4.5 Trillion into the system in QE's.
You mean most of that was paid back, QE is assets sitting in the fed and will be sold once the US is out of the Dubya great recession?
LOL
Now you push the TARP BS. Which was nothing more than a smoke screen for the real deal.
QE assets...........LOL...............
I posted an article not long ago on Morgan Stanley buying our bonds through Belgium. It was nearly the GDP of that tiny country.
Nobodies buying it bubba. The Fed Stock Holding banks are buying, as are their IMF buddies..............China and Russia are close to attempting to change the course of history with ditching the dollar.
You are a tool.
I posted a long time ago about the Margin Debt situation with a graph.
Do you pick and choose your diversions much................
Who are you going to blame when the market crashes again, after the Feds BS QE program pulls the plug.....................
I think I know that answer.
You mean most of that was paid back, QE is assets sitting in the fed and will be sold once the US is out of the Dubya great recession?
LOL
Now you push the TARP BS. Which was nothing more than a smoke screen for the real deal.
QE assets...........LOL...............
I posted an article not long ago on Morgan Stanley buying our bonds through Belgium. It was nearly the GDP of that tiny country.
Nobodies buying it bubba. The Fed Stock Holding banks are buying, as are their IMF buddies..............China and Russia are close to attempting to change the course of history with ditching the dollar.
You are a tool.
As long as conservative push it, it is probably wrong. Ever get honest and look how they are ALWAYS on the wrong side of history? Their policies NEVER work for anyone but the 1%ers
I posted a long time ago about the Margin Debt situation with a graph.
Do you pick and choose your diversions much................
Who are you going to blame when the market crashes again, after the Feds BS QE program pulls the plug.....................
I think I know that answer.
Gosh, you mean Vegas East isn't real? Shocking
Yeah, it's oversold, probably in the 20%-30% range today...
LOL
Now you push the TARP BS. Which was nothing more than a smoke screen for the real deal.
QE assets...........LOL...............
I posted an article not long ago on Morgan Stanley buying our bonds through Belgium. It was nearly the GDP of that tiny country.
Nobodies buying it bubba. The Fed Stock Holding banks are buying, as are their IMF buddies..............China and Russia are close to attempting to change the course of history with ditching the dollar.
You are a tool.
As long as conservative push it, it is probably wrong. Ever get honest and look how they are ALWAYS on the wrong side of history? Their policies NEVER work for anyone but the 1%ers
Have you seen a group trying to take out the Status Quo..........You know the ones............Who people like you call Anarchists........................
We are attempting to take out the trash............
I don't see your side taking out the trash..................
But you did take out the Blue Dogs because they refused to toe the line.
Conservative Ideas Can't Escape Blame for the Financial Crisis
The onset of the recent financial crisis in late 2007 created an intellectual crisis for conservatives, who had been touting for decades the benefits of a hands-off approach to financial market regulation. As the crisis quickly spiraled out of control, it quickly became apparent that the massive credit bubble of the mid-2000s, followed by the inevitable bust that culminated with the financial markets freeze in the fall of 2008, occurred predominantly among those parts of the financial system that were least regulated, or where regulations existed but were largely unenforced.
Predictably, many conservatives sought to blame the bogeymen they always blamed.
Politics Most Blatant | Center for American Progress
Regulators and policymakers enabled this process at virtually every turn. Part of the reason they failed to understand the housing bubble was willful ignorance: they bought into the argument that the market would equilibrate itself. In particular, financial actors and regulatory officials both believed that secondary and tertiary markets could effectively control risk through pricing.
http://www.tobinproject.org/sites/tobinproject.org/files/assets/Fligstein_Catalyst of Disaster_0.pdf
I posted a long time ago about the Margin Debt situation with a graph.
Do you pick and choose your diversions much................
Who are you going to blame when the market crashes again, after the Feds BS QE program pulls the plug.....................
I think I know that answer.
Gosh, you mean Vegas East isn't real? Shocking
Yeah, it's oversold, probably in the 20%-30% range today...
Margin debt is higher than the last two crashes. The only thing keeping the markets afloat is the FED............
This isn't a recovery...........It's currency manipulation at it's finest......And the Dems are at the helm now.......
2 parties same result.
As long as conservative push it, it is probably wrong. Ever get honest and look how they are ALWAYS on the wrong side of history? Their policies NEVER work for anyone but the 1%ers
Have you seen a group trying to take out the Status Quo..........You know the ones............Who people like you call Anarchists........................
We are attempting to take out the trash............
I don't see your side taking out the trash..................
But you did take out the Blue Dogs because they refused to toe the line.
You mean you are pushing for MORE extreme measures of the failed policies the past 30+ years? Yes, I've noticed it!
