I’m glad you brought that up no one seems to take that into account looks like a way to get rid of the competition I’d say.
Don’t forget the problem bank list continues to grow.
FDIC’s ‘problem’ bank list grows to 860
http://www.bizjournals.com/sanfrancisco/news/2010/11/23/fdics-problem-bank-list-grows-to-860.html
But it wasn’t only European Banks I was shocked to see Canadian Banks,Toyota,etc on the list.
http://www.zerohedge.com/article/meet-35-foreign-banks-got-bailed-out-fed
This really ticks me off too! The foreign banks were allowed to offload mortgages onto the Fed. (us really NOW OWNED by taxpayers)
The measure, initiated in Jan. 2009 to stimulate the flow of credit and keep household borrowing costs low, led the nation’s central bank to purchase more than $1.1 trillion in mortgages packaged into the form of securities. The mortgage bonds are backed by Fannie Mae and Freddie Mac, the twin mortgage giants NOW OWNED by taxpayers.
Deutsche Bank, a German lender, has sold the Fed more than $290 billion worth of mortgage securities, Fed data through July shows. Credit Suisse, a Swiss bank, sold the Fed more than $287 billion in mortgage bonds.
much more
Very interesting- thanks FromLori.
Here’s a related article from a few months ago: “Six Giant Banks Made $51 Billion Last Year; The Other 980 Lost Money”
http://www.forbes.com/2010/06/03/goldman-sachs-citigroup-markets-lenzner-morgan-stanley.html