$16 Trillion in Secret Bailouts
sakedelic
247 Posts
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
I want to hear some revolution!
http://www.unelected.org/audit-of-the-federal-reserve-reveals-16-trillion-in-secret-bailouts
Comments
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.
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?
This should help you out
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.
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.
Works fine for me.
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.
http://www.stormfront.org/forum/t819422/
^Thanks
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.
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.
Ouch!
There, fixed.
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?
I'm not sure what you mean by that.
THANK YOU BASED RON (TYBR)
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...
The stimulus package?
You mean the Bush bailout right?
This has zero to do with the stimulus package.