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$16 Trillion in Secret Bailouts

sakedelicsakedelic 247 Posts
edited July 2011 in Strut Central
Holy fuck! It's time for heads to roll! It takes five seconds to decide, brothers and sisters. Five seconds!
I want to hear some revolution!
http://www.unelected.org/audit-of-the-federal-reserve-reveals-16-trillion-in-secret-bailouts
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  Comments

  • GuzzoGuzzo 8,611 Posts
    Posted by Classical Physicist, Isaac Newton on July 21st, 2011
  • sakedelicsakedelic 247 Posts
    Would you rather hear it from a more recent source using his real name?

    http://sanders.senate.gov/newsroom/news/?id=ca3bd5d9-0ebe-4ee4-a005-9e59f9bc73d2

    No matter who said it & when, it's absolutely obscene & you should be pissed off, not smug.
    Assuming you pay taxes, that was your money used to bailout white-collar criminals here & abroad.
  • GuzzoGuzzo 8,611 Posts
    link doesn't work
  • BeatsoupBeatsoup 511 Posts
    http://www.businessinsider.com/feds-16-trillion-dollar-secret-slush-fund-props-up-our-way-of-life-2011-7

    http://www.rawstory.com/rs/2011/07/21/audit-fed-gave-16-trillion-in-emergency-loans/

    Guess this is real??... First audit in the Feds 100 year history and this is only for a 3 year period... Can't wrap my head around this amount of money...
    The Feds entire existence is insane. They actually are above the law, as far as I know the government can't change the fed just make recommendations... so nothing will change?
  • discos_almadiscos_alma discos_alma 2,164 Posts
    Beatsoup said:
    Can't wrap my head around this amount of money...

    This should help you out
  • LaserWolfLaserWolf Portland Oregon 11,517 Posts
    I'm going to go read those stories.

    That trillions were given in bailouts, by both treasure and the fed before Congress voted for a bail out is no secret. It was known back in 2008.
  • LaserWolfLaserWolf Portland Oregon 11,517 Posts
    This will be great to get details.

    Back in 2008 I think I was the only one here who opposed the congressional bailout. I was roundly ridiculed for it, as I am sure I will be again.

    Back then I pointed out that the financial institutions had already received trillions from the Treasury and the Fed. Only the details and perhaps the size were secret.

    I also pointed out that it would do nothing to help small business that most people work for or for families struggling to pay mortgages.

    We now know all that is true.
  • DORDOR Two Ron Toe 9,899 Posts
    Something like half of that went to just 4 US banks.
  • DORDOR Two Ron Toe 9,899 Posts
    sakedelic said:

    Works fine for me.
  • faux_rillzfaux_rillz 14,343 Posts
    sakedelic said:
    Holy fuck! It's time for heads to roll! It takes five seconds to decide, brothers and sisters. Five seconds!
    I want to hear some revolution!
    http://www.unelected.org/audit-of-the-federal-reserve-reveals-16-trillion-in-secret-bailouts

    The first blow struck in any successful revolution is always a poast on SoulStrut!

    You little dudes need to learn how to read a balance sheet before getting yourselves so worked up.
  • faux_rillzfaux_rillz 14,343 Posts
    Holler at your intellectual fellow travelers:

    http://www.stormfront.org/forum/t819422/
  • DORDOR Two Ron Toe 9,899 Posts
    sakedelic said:


    You little dudes need to learn how to read a balance sheet before getting yourselves so worked up.


    Are you saying Bernie Sanders doesn't know how to read one?
  • BeatsoupBeatsoup 511 Posts
    musica said:
    Beatsoup said:
    Can't wrap my head around this amount of money...

    This should help you out

    ^Thanks
  • faux_rillzfaux_rillz 14,343 Posts
    DOR said:
    faux_rillz said:


    You little dudes need to learn how to read a balance sheet before getting yourselves so worked up.


    Are you saying Bernie Sanders doesn't know how to read one?

    I have no idea, although it's hardly surprising to see a politician making obtuse political hay out of that number.

    The real story is in the conflicts of interest documented in the GAO report.
  • DORDOR Two Ron Toe 9,899 Posts
    faux_rillz said:
    DOR said:
    faux_rillz said:


    You little dudes need to learn how to read a balance sheet before getting yourselves so worked up.


    Are you saying Bernie Sanders doesn't know how to read one?

    I have no idea, although it's hardly surprising to see a politician making obtuse political hay out of that number.

    The real story is in the conflicts of interest documented in the GAO report.


    I agree on the conflict of interest. But it's tough not to make an issue of 16 trillion. When you think how that's more than the whole gdp of the entire U.S. economy last year.
  • faux_rillzfaux_rillz 14,343 Posts
    DOR said:
    faux_rillz said:
    DOR said:
    faux_rillz said:


    You little dudes need to learn how to read a balance sheet before getting yourselves so worked up.


    Are you saying Bernie Sanders doesn't know how to read one?

    I have no idea, although it's hardly surprising to see a politician making obtuse political hay out of that number.

    The real story is in the conflicts of interest documented in the GAO report.


    I agree on the conflict of interest. But it's tough not to make an issue of 16 trillion. When you think how that's more than the whole gdp of the entire U.S. economy last year.

    That is a cumulative figure for short-term loans; it's the same money coming in and out repeatedly.
  • sakedelicsakedelic 247 Posts
    faux_rillz said:
    sakedelic said:
    Holy fuck! It's time for heads to roll! It takes five seconds to decide, brothers and sisters. Five seconds!
    I want to hear some revolution!
    http://www.unelected.org/audit-of-the-federal-reserve-reveals-16-trillion-in-secret-bailouts

    The first blow struck in any successful revolution is always a poast on SoulStrut!

    You little dudes need to learn how to read a balance sheet before getting yourselves so worked up.

    I was being a bit facetious there, but if our government, without any oversight, "loaning" 16 trillion to a bunch of thieves and financial incompetents who aren't likely to repay it isn't a cause for alarm, please explain to me why being able to read a balance sheet makes it all better.
  • rootlesscosmorootlesscosmo 12,848 Posts
    RON PAUL WILL SAVE US.
  • DORDOR Two Ron Toe 9,899 Posts
    I don't think this is about the $$$ amount loaned per say. But more so transparency of who got what and why (and what did they do with that money) with no oversight. As Faux stated, "the conflicts of interest".
  • salviasalvia 279 Posts
    Bear Sterns: $853 billion ($853,000,000,000)
    Lehman Brothers: $183 billion ($183,000,000,000)

    Ouch!
  • HarveyCanalHarveyCanal "a distraction from my main thesis." 13,234 Posts
    WhoIsStanPapi said:
    These were short term "loans" that are the very foundation of our economic system...that is failing.

    There, fixed.
  • sakedelicsakedelic 247 Posts
    WhoIsStanPapi said:


    These were short term "loans" at 0% interest made two to three years ago which have not been/are not being paid back
    .
  • DORDOR Two Ron Toe 9,899 Posts
    WhoIsStanPapi said:
    DOR said:
    I don't think this is about the $$$ amount loaned per say. But more so transparency of who got what and why (and what did they do with that money) with no oversight. As Faux stated, "the conflicts of interest".

    These were short term "loans" that are the very foundation of our economic system. Banks borrow from the Fed and pay it back - it's how money circulates. To call these transactions "bailouts" or "secret" is some low level fringe nut shit worthy of Ron Paul's wackiest conspiracy-nut followers.


    The fact that there is no transparency or oversight as to who got what and why and what they did with the money. All the while at relatively low interest.

    Example might be that many loans were suppose to be used to get money flowing. Banks were suppose to be lending. When they didn't in many cases. They were using the money for their own purposes. Buying up competitors, etc...

    It's not some wacky conspiracy to want congress (GAO or whatever) to have the ability to audit the Fed and know who is getting what and why. The secret is because it's never been audited up until this point.

    You think it's a conspiracy for Americans to want to know what the Fed (Which is filled with many individuals from these same institutions) are up to?
  • faux_rillzfaux_rillz 14,343 Posts
    SECRETE AND RARE LOANS!
  • RockadelicRockadelic Out Digging 13,993 Posts
    DOR said:
    Americans
  • DORDOR Two Ron Toe 9,899 Posts
    Rockadelic said:
    DOR said:
    Americans

    I'm not sure what you mean by that.
  • faux_rillzfaux_rillz 14,343 Posts
    rootlesscosmo said:
    RON PAUL WILL SAVE US.

    THANK YOU BASED RON (TYBR)
  • HorseleechHorseleech 3,830 Posts
    Should the Fed be audited? Sure. Are they shady as fuk? Absolutely.

    Remember, Obama appointed these people and don't think for a second that this was a huge 'secret'. It wasn't made public, but that's a different matter. The main purpose of The Fed is to prevent bank panics - in other words, this is exactly what they are supposed to do. Whether they did it in the right way is open for debate, but there is nothing inherently scandalous about them giving huge loans to banks.

    If you believe in Obama's policies and the concept of the stimulus package, I'm not sure where the outrage comes in.

    If you don't like it, perhaps you could start a political party calling for a return to the gold standard.

    Oh wait...
  • HarveyCanalHarveyCanal "a distraction from my main thesis." 13,234 Posts
    Shit ain't working, so let's make sure not to change any of it...just to maintain our veneer of arrogant smugness.
  • LaserWolfLaserWolf Portland Oregon 11,517 Posts
    Horseleech said:


    If you believe in Obama's policies and the concept of the stimulus package, I'm not sure where the outrage comes in.

    The stimulus package?

    You mean the Bush bailout right?

    This has zero to do with the stimulus package.
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