- May 17, 2013
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I totally agree. But you asked what the bailout was shortly after the crash and it was to stop the bleeding in the money markets in September, 2008. That bleeding of the money markets was the crash and it was caused by bogus AAA rated bonds being put up as collateral.Have You Heard About The 16 Trillion Dollar Bailout The Federal Reserve Handed To The Too Big To Fail Banks
According to the GAO audit, $16.1 trillion in secret loans were made by the Federal Reserve between December 1, 2007 and July 21, 2010. The following list of firms and the amount of money that they received was taken directly from page 131 of the GAO audit report....
Citigroup - $2.513 trillion
Morgan Stanley - $2.041 trillion
Merrill Lynch - $1.949 trillion
Bank of America - $1.344 trillion
Barclays PLC - $868 billion
Bear Sterns - $853 billion
Goldman Sachs - $814 billion
Royal Bank of Scotland - $541 billion
JP Morgan Chase - $391 billion
Deutsche Bank - $354 billion
UBS - $287 billion
Credit Suisse - $262 billion
Lehman Brothers - $183 billion
Bank of Scotland - $181 billion
BNP Paribas - $175 billion
Wells Fargo - $159 billion
Dexia - $159 billion
Wachovia - $142 billion
Dresdner Bank - $135 billion
Societe Generale - $124 billion
"All Other Borrowers" - $2.639 trillion
http://www.sanders.senate.gov/imo/media/doc/GAO Fed Investigation.pdf
The Federal Report disclosing the loans.
Federal Reserve Emergency Loans Liquidity for Banks - Bloomberg
aka Using the Fractional Reserve Banking system via the Federal Reserve to bet on the Markets..........So bogus were they that it took the above loans through the discount window to inflate the bubble again so the Too Big to Fail, who were SELF REGULATED, would be saved from their manipulation of the Markets instead of going to jail where they belonged.