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To: middlegeorgian
then turned around years later, suing said same banks for giving the loans. ( after giving them billions in bailout money)

Hence:
Citi = 590 million fine settlement ( which obama's firm and obama brought suit in the first place to provide the loans)

Wells Fargo = 175 million

GFI Mortgage Bankers = 3.5 million

BOA = 335 billion (maybe)

Mellon = 8.5 billion (maybe)


10 posted on 09/03/2012 10:56:19 AM PDT by stylin19a (Obama -> Ransom "Rance" Stoddard)
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To: stylin19a

In addition, the FED from 2007-2010 loaned banks $16Trillion for bailouts. Citi got $2.5Trillion...here is the Link:

http://www.sott.net/articles/show/250592-Audit-of-the-Federal-Reserve-Reveals-16-Trillion-in-Secret-Bailouts

While Citi paid a paltry fine, it received a massive “bailout” that it will never pay back, like the others.

Our 5 biggest banks have $227T in credit derivative liabilities according the office of the Comptroller of the US. Their collective liquidation value is about $7Trillion. Since their obligations consist of a lot of highly leveraged long term debt (up to 30 years, with 5 year short term financing), there are 5 more bailout requiring refinancing rollover periods of 5 years to go before maturity of the derivative obligations.
The US has not gotten thru the first 5 year “bailout” period measuring from the crash of 2008....there is still the rest of this year all the way to the end of 2013 to go. No debt principal has been paid off at all, just refinancing interest obligations have been met. Europe and the US have not squeaked by at all. There is much more to come, and $16T is mere pittance of what is ultimately due over the next 26 years measuring from 2008, just for bank bailouts, forget US debt and unfunded mandates on top of it all.


19 posted on 09/03/2012 12:02:05 PM PDT by givemELL (Does Taiwan eet the Criteria to Qualify as an "Overseas Territory of the United States"? by Richar)
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