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Fed Handed Out 3.3 Trillion In Crony Deals

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posted on Dec, 2 2010 @ 09:26 AM
Half of the criminal fed’s actions have been brought to light.

3.3 trillion tax payer dollars were handed out in crony deals to banks and other industries.

All the start-ups that stood to benefit from the collapse of the behemoths were denied justice in the market by the criminal actions of a handful of men.

The WaPo reports:

The banks universally hailed the Fed on Wednesday.

“In late 2008, many of the US funding markets were clearly broken,” Goldman Sachs said in a statement, echoing similar comments made by Bank of America and Citigroup. “The Federal Reserve took essential steps to fix these markets and its actions were very successful.”

By 2009, Goldman and other Wall Street firms were reporting their best profits ever. That allowed these banks to pay out huge salaries again, but it also drew the ire of lawmakers and ordinary Americans.

Of course they universally hailed the Fed.

Without the Fed, they would all be bankrupt.

The entire purpose of the Fed is to prevent the mega commercial banks from going out of business.

One man made the call to allocate nearly a quarter of the entire American GDP to all manner of crony corporations and criminal banking institutions.

Democracy? LOL

And of course, this 3.3 trillion does not include the bailouts of Fannie and Freddie, nor does it include all the money allocated by congress. Those bailouts are in the tens of trillions.

Basically every major corporation in America got money taken from the pockets of the tax payer in some manner. Either through direct bailouts by the Fed, handouts from congress, or crony government deals.

The message to industry is as follows:

Washington pays.

edit on 2-12-2010 by mnemeth1 because: (no reason given)

posted on Dec, 2 2010 @ 09:36 AM
It makes me feel like vomiting.

I wish they would screw up so bad that the American people would truly get fed up with the Fed, our Congress and the Executive branch(with all the Executive Orders)!

posted on Dec, 2 2010 @ 11:01 AM
The Case Against The Fed - Full Audio Book Here

Prof. Murray N. Rothbard explains the criminality behind the Federal Reserve System in this epic timeless work.

Dr. Rothbard explains the nature of money, how money came into existence, and why the Fed’s actions are tantamount to pure counterfeiting. After reading this book, one will understand the criminal nature of our monetary system and why it robs the middle class. Rothbard also digs extensively into the people behind the origin of the Federal Reserve and details how a gang of elites came to dominate the American people.

posted on Dec, 2 2010 @ 11:04 AM
It is more proof that the economic system in the U.S. is not a free market but a form of corporate fascism.

In a free market, every single corporation that was in trouble and needed a bailout should have died like the failures they are. Sure it would have hurt and the rearrangement to the economy would be nasty but there would be a recovery a the (deserving) survivors would have grown us out much faster and much stronger than what we are going through now.

But nooooo the failures are still there and still failing the system. The government and the failure corporations are joined at the hip just as they were in Nazi (national SOCIALIST) Germany.

Many of these bailouts loans had a nice 0.0078% interest. Really. When do we the people get a loan from the bankers at 8 thousandth of a percent? I wish I got a billion dollar loan at that rate, I could have thrown it in short term U.S. bonds and made some good money, oh wait, that's what Goldman Sachs does. Why do the Wall Street banks get free money for more profits while he American unemployed or running out of unemployment benefits that they put their own tax money into?

posted on Dec, 2 2010 @ 11:20 AM
reply to post by wutone

In Amerika, the Bernak protekts us from the failure.

Think of the children!

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