Saturday, Sep 20, 2008
The price tag for bailing out the US financial system may exceed $1.3 trillion dollars.
Henry Makow: http://www.henrymakow.com/the_fed_is_making_a_killing_on.html
The purchase price for the two mortgage lenders, and Bear Stearns and AIG is over $300 billion. The assumption of the bad loans held by the banks may cost an additional one trillion dollars.
If the US Treasury created its own money, this might be bearable. But last I heard the system of money creation has not changed. I'm not an economist but it seems that the Fed is making a killing on our banking woes. The Fed is creating this "money" out of thin air and using it to buy US Treasury Notes and Bonds. The Treasury (i.e. US taxpayers) are on the hook for these securities plus interest. In other words, The banksters are a trillion dollars richer thanks to this bail out.
Posted by malct @ 09:27 AM (190 views) Add Comment
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