Federal Reserve Auit: What is reveals about our socialist system for the Banksters

"From late 2007 through mid-2010, Reserve Banks provided more than a trillion dollars… in emergency loans to the financial sector to address strains in credit markets and to avert failures of individual institutions believed to be a threat to the stability of the financial system," the audit report states.

"The scale and nature of this assistance amounted to an unprecedented expansion of the Federal Reserve System’s traditional role as lender-of-last-resort to depository institutions," according to the report.
The report notes that all the short-term, emergency loans were repaid, or are expected to be repaid.

The emergency loans included eight broad-based programs, and also provided assistance for certain individual financial institutions. The Fed provided loans to JP Morgan Chase "bank to acquire Bear Stearns, a failed investment firm; provided loans to keep American International Group (AIG), a multinational insurance corporation, afloat; extended lending commitments to Bank of America and Citigroup; and purchased risky mortgage-backed securities to get them off private banks’ books.

Overall, the greatest borrowing was done by a small number of institutions. Over the three years, Citigroup borrowed a total of 2.5 trillion dollars, Morgan Stanley borrowed two trillion; Merrill Lynch, which was acquired by Bank of America, borrowed 1.9 trillion; and Bank of America borrowed 1.3 trillion.

Banks based in counties other than the U.S. also received money from the Fed, including Barclays of the United Kingdom, the Royal Bank of Scotland Group (UK), Deutsche Bank (Germany), UBS (Switzerland), Credit Suisse Group (Switzerland), Bank of Scotland (UK), BNP Paribas (France), Dexia (Belgium), Dresdner Bank (Germany), and Societe General (France).



Since I already know that many of you won't accept data from a site like thisL First Federal Reserve Audit Reveals Trillions in Secret Bailouts | Common Dreams

Here's links galore detailing this same story. Take your pick and choose a source that YOU trust.

Must be nice to be in a position where if you're so over extended that you are techically insolvent, you'll get bailed bout time after time, no questions asked.

Meanwhile, these big banks shinannigans are driving honest BANKS out of business.

Meanwhile the American middle class is being asked to bite the bullet because the Bnaksters fouled things up.

Meanwhile we Americans continue to bicker amongt ourselves while the REAL SOCIAL PARASITES buy yachts and move the ill-got gains offshore.

Wake up folks.

"Meanwhile the American middle class is being asked to bite the bullet ...."

Not quite.


1. It is important to distinguish between more Americans getting richer, and only the rich getting richer. The latter, of course, is the default position of the Old Left Media. For example, the Left bemoans the declining percentage of Americans in the moderate-income range, between $35,000-$50,000. This is regularly called the ‘vanishing middle classs.’

a. “This transformation is no longer just about factory workers, whose ranks have declined by 5 million in the past 25 years as manufacturing moved to countries with cheaper labor. All kinds of jobs that pay in the middle range -- ... -- are vanishing, including computer-code crunchers, produce managers, call-center operators, travel agents and office clerks. The jobs have had one thing in common: For people with a high school diploma and perhaps a bit of college, they can be a ticket to a modest home, health insurance, decent retirement and maybe some savings for the kids' tuition. Such jobs were a big reason America's middle class flourished in the second half of the 20th century.” washingtonpost.com: As Income Gap Widens, Uncertainty Spreads

b. “…and plenty of jobs in the middle. But in the new services economy, the middle is missing." The Declining Middle - 83.07

c. “THE DISAPPEARANCE OF THE MIDDLE CLASS” BUSINESS FORUM - BUSINESS FORUM - THE DISAPPEARANCE OF THE MIDDLE CLASS - NYTimes.com

2. What is missed…and not by accident, is that the ‘disappearance’ is largely due to fact that the percentage of households with real incomes higher than $50,000 increased from 24.9% in 1967 to 44.1% in 2003, and the percentage with real incomes lower than $35,000 fell from 52.8% in 1967 to 40.9% . More On The Certain Equality Of Reaganomics - Forbes

a. “…in 1967 only one in 25 families earned an income of $100,000 or more in real income, whereas now, one in six do. The percentage of families that have an income of more than $75,000 a year has tripled from 9% to 27%. But it's not just the rich that are getting richer. Virtually every income group has been lifted by the tide of growth in recent decades.” Great American Dream Machine

Thus, the middle class was growing richer, and moving up, rather than shrinking.
 
So it appears that there is at least ONE ISSUE upon which both leaning conservative folks and leaning not-conservative folks CAN AGREE?

Is that what I am reading here?

Do we all understand that WALL STREET BANKS get free money that they can lend to us at interest?

Do we all really get what that actually means?

Incidently 98% of all banks in the USA are NOT involved in this scam, folks.

It is a very select community of INSIDER BANKS who benefit from this kleptocratic system.

This is why a loaf of bread that used to cost a dime now costs $4.00, folks.

Not because the workers demand too much money but because the BANKSTERS get FREE money they get to loan to us AT INTEREST.

Now who is responsible for this system?

Actually, I'm surprised that you acquiesce to the conservative concepts involved, i.e., that a government that strays mightily form the free market system, and subscribes to crony capitalism...selecting winners and losers....is largely a detriment.

Good thread, Techy.

I seriously cannot understand why you think I would not out raged by the failings of the Obama Administration.

AFter all I've been bitching about what a trainwreck and how obviously CLASSIST the TARP and Stimulus packages have been for months.

I guess where we might differ is that I can see the same basic problem coming froim both wings of the Insider party and (I guess) you as yet haven't recognized this fact?

The sooner our partisan VICTIMS of both parties stop hating each other, and start recognizing that it is our LEADERS who are responsible for what THEY do, the better.


Wall street is treated like royalty by BOTH PARTIES.

Main Street is screwed over by BOTH parties.

THAT is my POV on american politics and economics and that has been my stated POV ever since I came here.
 
So it appears that there is at least ONE ISSUE upon which both leaning conservative folks and leaning not-conservative folks CAN AGREE?

Is that what I am reading here?

Do we all understand that WALL STREET BANKS get free money that they can lend to us at interest?

Do we all really get what that actually means?

Incidently 98% of all banks in the USA are NOT involved in this scam, folks.

It is a very select community of INSIDER BANKS who benefit from this kleptocratic system.

This is why a loaf of bread that used to cost a dime now costs $4.00, folks.

Not because the workers demand too much money but because the BANKSTERS get FREE money they get to loan to us AT INTEREST.

Now who is responsible for this system?

Actually, I'm surprised that you acquiesce to the conservative concepts involved, i.e., that a government that strays mightily form the free market system, and subscribes to crony capitalism...selecting winners and losers....is largely a detriment.

Good thread, Techy.

I seriously cannot understand why you think I would not out raged by the failings of the Obama Administration.

AFter all I've been bitching about what a trainwreck and how obviously CLASSIST the TARP and Stimulus packages have been for months.

I guess where we might differ is that I can see the same basic problem coming froim both wings of the Insider party and (I guess) you as yet haven't recognized this fact?

The sooner our partisan VICTIMS of both parties stop hating each other, and start recognizing that it is our LEADERS who are responsible for what THEY do, the better.


Wall street is treated like royalty by BOTH PARTIES.

Main Street is screwed over by BOTH parties.

THAT is my POV on american politics and economics and that has been my stated POV ever since I came here.

"where we might differ is that I can see the same basic problem coming froim both wings of the Insider party and (I guess) you as yet haven't recognized this fact?"

Now, Techy....you know the protocol of this blood sport....

....the reputable thing to do is to choose.

One or the other, not 'a pox on both their houses.'

Intelligent analysis, and conclusion. One or the other. Not both.


Which beliefs system is better for the nation, for posterity, for the individual...

It is beside the point that both are corrupt...to a degree. That is the nature of mankind. Checks and balances are designed to modulate same.

Better to instill individualism and reponsibility or the paternalism of big government.
Tocqueville or Krugman.


I have hopes for you, Techy...
...and toward that end, a note from Vaclav Klaus, the president of the Czech Republic, who has served twice as its prime minister. He was born in Prague in 1941, and holds his doctorate in economics from the University of Economics in Prague, where he still teaches. He also studied in Italy in 1966 and in the United States in 1969.

"...European economic problems—not specifically European, but worse in Europe than elsewhere—has to do with the quality, productivity and efficiency of its economic and social system. Europe is characterized by a seemingly people-friendly, non-demanding, paternalistic and—in consequence—insufficiently productive economic and social system called die soziale Markwirtschaft, or social democracy. This system, with its generous social benefits, weakened motivation, shortened working hours, prolonged years of study, lowered retirement ages, diminished the supply of labor—both at the macro level and structurally—and led to very slow economic growth."

Václav Klaus

Hillsdale College - Imprimis
 
So it appears that there is at least ONE ISSUE upon which both leaning conservative folks and leaning not-conservative folks CAN AGREE?

Is that what I am reading here?

Do we all understand that WALL STREET BANKS get free money that they can lend to us at interest?

Do we all really get what that actually means?

Incidently 98% of all banks in the USA are NOT involved in this scam, folks.

It is a very select community of INSIDER BANKS who benefit from this kleptocratic system.

This is why a loaf of bread that used to cost a dime now costs $4.00, folks.

Not because the workers demand too much money but because the BANKSTERS get FREE money they get to loan to us AT INTEREST.

Now who is responsible for this system?

Actually, I'm surprised that you acquiesce to the conservative concepts involved, i.e., that a government that strays mightily form the free market system, and subscribes to crony capitalism...selecting winners and losers....is largely a detriment.

Good thread, Techy.

I seriously cannot understand why you think I would not out raged by the failings of the Obama Administration.

AFter all I've been bitching about what a trainwreck and how obviously CLASSIST the TARP and Stimulus packages have been for months.

I guess where we might differ is that I can see the same basic problem coming froim both wings of the Insider party and (I guess) you as yet haven't recognized this fact?

The sooner our partisan VICTIMS of both parties stop hating each other, and start recognizing that it is our LEADERS who are responsible for what THEY do, the better.


Wall street is treated like royalty by BOTH PARTIES.

Main Street is screwed over by BOTH parties.

THAT is my POV on american politics and economics and that has been my stated POV ever since I came here.

It's the only casino in town.
Do you have a suggestion where else we can play?
 
Essentially, the government is providing profits for the largest banks at basically no cost.
The Fed loans $500 billion to Citigroup, Citi loans the money out to whoever and makes a hefty profit of $40 billion and hands $500 billion back to the government...repeat.

Doesn't quite work if the folks Citigroup loaned it to don't pay it back.
 
This is why a loaf of bread that used to cost a dime now costs $4.00, folks.

Normal levels of inflation are healthy for the economy. Ask anyone with a big loan.


As a the owner of a duplex who needs that rent from the other side, I know that deflation can kill me.

Deflation is only good for those who loan the money. If a bank loans you $1000 today and you have to pay $1050 back in a year - and the prices deflate so the dollar is worth twice as much, you will be paying $2100 back in terms of the value of the dollar at the original loan time.
 
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Wall street is treated like royalty by BOTH PARTIES.

Main Street is screwed over by BOTH parties.

THAT is my POV on american politics and economics and that has been my stated POV ever since I came here.

"where we might differ is that I can see the same basic problem coming froim both wings of the Insider party and (I guess) you as yet haven't recognized this fact?"

Now, Techy....you know the protocol of this blood sport....

....the reputable thing to do is to choose.

One or the other, not 'a pox on both their houses.'

Intelligent analysis, and conclusion. One or the other. Not both.

The Intellegent analysis of a bag of leaves would concluse there is no choice offered PC
~S~
 
Actually, I'm surprised that you acquiesce to the conservative concepts involved, i.e., that a government that strays mightily form the free market system, and subscribes to crony capitalism...selecting winners and losers....is largely a detriment.

Good thread, Techy.

I seriously cannot understand why you think I would not out raged by the failings of the Obama Administration.

AFter all I've been bitching about what a trainwreck and how obviously CLASSIST the TARP and Stimulus packages have been for months.

I guess where we might differ is that I can see the same basic problem coming froim both wings of the Insider party and (I guess) you as yet haven't recognized this fact?

The sooner our partisan VICTIMS of both parties stop hating each other, and start recognizing that it is our LEADERS who are responsible for what THEY do, the better.


Wall street is treated like royalty by BOTH PARTIES.

Main Street is screwed over by BOTH parties.

THAT is my POV on american politics and economics and that has been my stated POV ever since I came here.

It's the only casino in town.
Do you have a suggestion where else we can play?

Yes, DON'T VOTE FOR THEM.

A NON-vote IS a vote of no confidence.

Stop providing the bastards POLTICAL cover.

STop allowing them to pretend that we live in anything remotely approaching a DEMOCRATIC republic.

I had some hopes that the Tea Party might morph into a real nationalistic movement.

Not any more.
 
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These banks & auto companies have not paid any of it back. They just barrow more from a new government program to pay the other loans with.
 
...the FED and Treasury's decision to BREAK THE LAW and shore up the crashing BANKING SYSTEM...
You don't like the FDIC? Anyone who thinks banks are bad has to give up money and try bartering.
They went far and away beyond FDIC protections, X. Do some research...
The problem we got is your saying the Fed/Tresury broke laws. Researching the problem means getting you to say exactly what actions represent violations of which laws. We're finding out that you can't name any actions and that usually means you're making it all up.
 
You don't like the FDIC? Anyone who thinks banks are bad has to give up money and try bartering.
They went far and away beyond FDIC protections, X. Do some research...
The problem we got is your saying the Fed/Tresury broke laws. Researching the problem means getting you to say exactly what actions represent violations of which laws. We're finding out that you can't name any actions and that usually means you're making it all up.

not so, the problem isn't that the banksters are breaking laws Xpat, they're making them.

and you know what? it isn't limited to any given country, because they're global , hail from none , and only run colors when it's in their interest

this is what power and greed assumes insiduously corrupting anything over time that may be in the way of it's goals

there isn't an incumbent out there that will stay in office for long without bowing down to it imho , so any party by proxy is also suspect

further, the game is peppered with the onus of guilt and burden of proof upon those who will never be shown (this OP aside) any factual information of the perpetrators (legal or illegal actions)

instead, the game (as PC coins it {pun intented}) is to challenge those capitalist roots to rise above and soldier on.

Without note of the chosen few , who have long since assumed protectants and opportunities the average Joe can't.

for instance, i've noted numerous gold bugs here, sure you're making a $$$ on the dollars decline, but you can't own it. You're all operating on a fiscal institutions note

grand scheme that, to convince the moths into the flame the banksters lit

How Americans Lost Their Right To Own Gold
 
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I seriously cannot understand why you think I would not out raged by the failings of the Obama Administration.

AFter all I've been bitching about what a trainwreck and how obviously CLASSIST the TARP and Stimulus packages have been for months.

I guess where we might differ is that I can see the same basic problem coming froim both wings of the Insider party and (I guess) you as yet haven't recognized this fact?

The sooner our partisan VICTIMS of both parties stop hating each other, and start recognizing that it is our LEADERS who are responsible for what THEY do, the better.


Wall street is treated like royalty by BOTH PARTIES.

Main Street is screwed over by BOTH parties.

THAT is my POV on american politics and economics and that has been my stated POV ever since I came here.

It's the only casino in town.
Do you have a suggestion where else we can play?

Yes, DON'T VOTE FOR THEM.

A NON-vote IS a vote of no confidence.

Stop providing the bastards POLTICAL cover.

STop allowing them to pretend that we live in anything remotely approaching a DEMOCRATIC republic.

I had some hopes that the Tea Party might morph into a real nationalistic movement.

Not any more.

A non-vote is tacit approval of the side one least admires.
 
"where we might differ is that I can see the same basic problem coming froim both wings of the Insider party and (I guess) you as yet haven't recognized this fact?"

Now, Techy....you know the protocol of this blood sport....

....the reputable thing to do is to choose.

One or the other, not 'a pox on both their houses.'

Intelligent analysis, and conclusion. One or the other. Not both.

The Intellegent analysis of a bag of leaves would concluse there is no choice offered PC
~S~

That is what the 19% who voted for Perot believed.

Vote.
 
Both Editec and i vote PC , in fact if politics is everyone's part time job, we're doin' OT

furthering that notion, the issue of voter apathy, however, isn't just the penchant of the ignorant

although you'd like to pin that tail on the non-partisans donkeys that bray and kick at those of you addicted to the obvious diversion, it doesn't fit into the issue presented

and no, i'm not sorry to point that out to you

~S~
 
The Federal Reserve is a criminal organization, in my opinion. That is why they fear people like Ron Paul who keeps calling for a thorough audit. They don't want the public to know what they're doing behind our backs.

And the big banks that abuse it deserve no blame?

Poor widdle innocent bankies...
 
I voted for Ross.

Ross was right about that big sucking sound from accross our borders from Free Trade Agreements.
 

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