Skip to comments.Wall Street Secretly Borrowed $1.2 Trillion From the Fed
Posted on 08/22/2011 7:55:04 AM PDT by Dubya-M-DeesWent2SyriaStupid!
The largest and most powerful financial institutions in the world all borrowed billions of dollars in emergency loans from the United States Federal Reserve during the financial crisis, totaling up to $1.2 trillion, a number that has remained secret until now. The $160 billion public bailout was "dwarfed," Bloomberg reports, by the Fed's covert lending, which included $107.3 billion to Morgan Stanley, $99.5 billion to Citigroup, and $91.4 billion to Bank of America. As one expert put it, "Youre talking about the aristocracy of American finance going down the tubes without the federal money."
(Excerpt) Read more at nymag.com ...
time to slander Wall Street anew as it has just been reported that “Wall Street turns its back on Obama.”
Honestly, what else was Fed Gov going to do when it essentially told banks to make risky loans and they would fully cover them?
Wall Street and Fed Gov have been in bed with each other for years.
The primary losers from the coming inflation are creditors, the banks.
This go round, the banks are being compensated in advance of the coming inflationary losses. The question is for the banker......did I get enough in advance to assure no real loss during the inflation.
The inflation is by design and is the only way to pay the debt.
WALLSTREET has been and will continue to be one of Obama’s biggest financial supporters.
“Obama top industry donors were lawyers and law firms, contributing more than $31.5 million. The second biggest industry gave $11.2 million, donated by individuals in the securities and investment industry. Among the top corporate donors were Microsoft ($810,000), General Electric ($340,935), and some Wall Street banks, including Citigroup, Goldman Sachs, JPMorgan Chase, and Bank of America (a combined $2 million in donations).”
Nine Signs That a New Global Recession Has Arrived
Posted: August 22, 2011 at 6:25 am
2. GDP Forecasts
3. Oil demand falls
4. Stock markets retreat
6. Civil War
7. The Poor
8. Government spending cuts
9. Wall St. turns against growth
Read more: Nine Signs That a New Global Recession Has Arrived - 24/7 Wall St. http://247wallst.com/2011/08/22/nine-signs-that-a-new-global-recession-has-arrived/#ixzz1VlnhhiWk
Now THIS is a shocker.
The “secret” part was more the Fed’s doing, more than “Wall Street’s”.
Half of the top 30 borrowers were European financial institutions.
Laying more groundwork for what I predict will be a robust third-party Presidential run by a Populist candidate promising to take the banks and Wall Street to the woodshed.
Obama’s future prospects virtually depend on it.
And it will be more of the same ole crap sandwich for the American people if Obama or Myth or Ricardo Perrito wins.
They all love corporate welfare and it will their job to deliver it.