Fed Secretly Handed Out $8 Trillion To Banks

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Just exactly how big was the Federal Reserve’s bailout of the banks between the years of 2008 and 2010? Thanks to a Federal Request of Information Act gone fulfilled, America now knows the truth behind a colossal cover-up: almost $8 trillion.

https://rt.com/usa/news/fed-trillion-reserve-bailout-401/

[The Masked Tulip]

Just exactly how big was the Federal Reserve’s bailout of the banks between the years of 2008 and 2010? Thanks to a Federal Request of Information Act gone fulfilled, America now knows the truth behind a colossal cover-up: almost $8 trillion.

https://rt.com/usa/news/fed-trillion-reserve-bailout-401/

I suspect they bailed out the UK banks also, probably the French and a few others.

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http://www.nakedcapitalism.com/2011/11/quelle-surprise-banks-lied-about-bailout-funds-and-got-13-billion-in-profit-from-them.html

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Here's what Bloomberg has dug up: http://www.bloomberg.com/news/2011-11-28/secret-fed-loans-undisclosed-to-congress-gave-banks-13-billion-in-income.html

[crash2006]

Thats why people are becoming poor to keep the banks going.the biggest con in monetary history.

Edited November 29, 2011 by crash2006

[DTMark]

Thats why people are becoming poor to keep the banks going.the biggest con in monetary history.

Now, now. Have you forgotten the "trickle down effect"?

Problem is that even if that were actually a device which demonstrably worked, it appears to be the only device now.

[crash2006]

Now, now. Have you forgotten the "trickle down effect"?

Problem is that even if that were actually a device which demonstrably worked, it appears to be the only device now.

Yer, the scraps, like a zombie fest with one leg of chicken between them all.

[Milton]

They should be publicly lynched.

The Worse Threat the USA has ever faced and its domestic. And they've already won. Just as over here the Legal System has utterly failed. Its all corrupt as hell.

They need another 'President Andrew Jackson' in the Whitehouse NOW.

Whos the nearest thing? Ron Paul?

There should be worldwide massive civil disobedience.

Edited November 29, 2011 by Milton

[scrappycocco]

now the people need to hold the rich bankers and their friends to ransom...

[Lone_Twin]

Now, now. Have you forgotten the "trickle down effect"?

Problem is that even if that were actually a device which demonstrably worked, it appears to be the only device now.

Though I think "trickle down" has it's flaws it's patently disingenuous to compare a theory where people keeping and spending the produce of their labour, investment and invention enriches the wider economy to a system where money is actively syphoned from the less well off to make some people super rich.

be fair.

[interestrateripoff]

Thats why people are becoming poor to keep the banks going.the biggest con in monetary history.

Yeps its all about keeping the banks solvent and the whole ponzi economy moving.

[DTMark]

Though I think "trickle down" has it's flaws it's patently disingenuous to compare a theory where people keeping and spending the produce of their labour, investment and invention enriches the wider economy to a system where money is actively syphoned from the less well off to make some people super rich.

be fair.

Actually, you're right to pull me up on that one. I had a drink last night

Perhaps, more accurately, given the way we calculate "wealth" as a nation, and how our economy has gone (and why), it would be far more accurate to call the handouts the "trickle up" policy..

[Nationalist]

When your country is owned by a parasitic non-productive oligarchy you need the "French solution". It's time for Madame la Guillotine to come out of retirement.

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I've just eaten some cake. Now for the next part LOL!

[Bloo Loo]

8T

and there still is a credit crunch.

printing fixed nothing except a few banking retirements and bonuses world wide

[wonderpup]

Now, now. Have you forgotten the "trickle down effect"?

That phrase always make me think of somebody being pissed on from a great height- no idea why.

[LuckyOne]

This is surely the area where the interests of the left and the right should converge.

I am a free market capitalist and the behaviour of central banks and the interference with the normal risk/reward structure is massively insulting to my sensibilities.

I can see how someone on the left would be equally upset about the privitisation of gains and socialisation of losses although it must be said that it was mostly left of centre governments that chose that path.