Have You Heard About The 16 Trillion Dollar Bailout The Federal Reserve Handed To The Too Big To Fai

Have You Heard About The 16 Trillion Dollar Bailout The Federal Reserve Handed To The Too Big To Fail Banks?

www.globalresearch.ca

According to the limited GAO audit of the Federal Reserve that was mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, the grand total of all the secret bailouts conducted by the Federal Reserve during the last financial crisis comes to a whopping $16.1 trillion.

That is an astonishing amount of money.

Keep in mind that the GDP of the United States for the entire year of 2010 was only 14.58 trillion dollars.

The total U.S. national debt is only a bit above 15 trillion dollars right now.

So 16 trillion dollars is an almost inconceivable amount of money.

(visit the link for the full news article)

This is what OWS is all about. The criminal enterprise known as the FED!

Maybe some of the OWS haters can channel that anger at "dirty lazy hippies" a little more constructively. You know get angry with the gangsters and banksters that are destroying the US.

I know it isn't news for most of us here on ATS but it is important to keep reporting the REAL NEWS because our bought and paid for 4th Estate(MSM) does not report THIS NEWS.

They are printing fake money and "loaning" it to their friends for free. The banks purchase hard assets and charge all liabilities to the taxpayers because they are too big too fail. All done under the cloak of secrecy.

www.globalresearch.ca
(visit the link for the full news article)

Here is a breakdown from the article.

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

And to think people are whining about some woman with 15 kids getting welfare. Like I said, we've got much bigger problems.

How would you like getting loans at .01 percent?

And when they give you the loan they allow you to charge a "transaction fee" for accepting the money. You make a profit for simply accepting the loan!! WOW!

And if you fail to pay them back they get someone else to pay your loan for you!!

And they will allow you to borrow MORE money based on the money they have just loaned you as collateral!!

The American taxpayer became a shareholder and ordered a person appointed to their corporate board to protect the nation's interest. The taxpayer was never on the hook for one red cent as that money was loaned to the TBTF group and if they ever defaulted the Federal Govt would come in, snatch up all holdings, properties and assets and auction them off to the highest bidder hence why they paid it back as quick as they did. To get us off of their board.

Now if The taxpayer is to cover the looses from the BoA demand that the taxpayer cover their $75 Trillion in derivatives deals we will own them indefinately.

I hope you guys are reading some of this.

Under CPFF, approximately 60 percent of the commercial paper was issued by U.S. subsidiaries of foreign institutions over the life of the program. At the time CPFF was created, U.S. companies owned by foreign institutions were among the most significant participants in the U.S. commercial paper market.

60% of the money went to foreign institutions!

reply to post by Julie Washington


I don't care how much went to whom the fact remains is that the taxpayer is not on the hook for one red cent!

Where did they get ALL that money?? Do they have it in savings? Where did that money come from?

Originally posted by TheImmaculateD1
reply to post by Julie Washington

 

I don't care how much went to whom the fact remains is that the taxpayer is not on the hook for one red cent!

reply to post by Leo Strauss


The private bank accounts of The SCUM usually located in the IMF and The BIS!

so.. what happened with the trillions ? Just thinking , this amount of money should create quite some inflation. Was this thing keeping DOW alive?

reply to post by TheImmaculateD1


So are you asserting that the US taxpayer was not hurt by the fraud committed by Wall St banks?

1 in 4 mortgages in the US are underwater. So the banks scheme to engineer the Credit default swaps and they are bailed out completely but the average citizen victimized by these loans receive no "bailout" they lose their house and savings.

Checked the unemployment rate lately. How come they aren't loaning money for infrastructure projects or small business?

The principal loans were paid back but not the standard interest on the loan. Because this money was 'loaned' at practically zero interest which resulted in billions of dollars given as another gift to the banks.

I passed this on to CNN I suggest if you folks want change you do the same. send it as a news tip and tell them like I did the people are getting mad and to do their job.

reply to post by Leo Strauss


What I am saying is that this money loaned to banks that the taxpayer was never and not on the hook for a single red cent as The Congress did not approve the loan as rules say that for the taxpayer to be on the hook an act of Congress is required!