It was millions of dollars and was all a diversion.
I saw Freepers jumping on the band wagon demanding the money back.
Good ol Barama was gonna hold those corporate feet to the fire.
Meanwhile he was shoveling trillions out the back door.
Posted on 12/05/2010 9:27:28 PM PST by The Magical Mischief Tour
After you crunch the Primary Dealer Credit Facility (PDCF) numbers, you can see through the noise. What is revealed is this: The Fed's overnight lending to primary dealers concentrated staggering sums of government cash in the hands of a tiny circle of financial institutions. The story of PDCF lending is the story of those few financial institutions that went on to become just six banks.
SNIP
Institutions that ultimately went on to become just six banks—Bank of America, Citigroup, Morgan Stanley, Barclays, Goldman Sachs, and JPMorgan—received at total of about $8.78 trillion through the PDFC program.
That $8.78 trillion figure represents over 98 percent of the funds lent by the PDFC program.
(Excerpt) Read more at cnbc.com ...
Is it clear what they are doing, to the masses here?
They are using the very system we built to finance themselves up for retirement once this Republic is completed looted and falls.
BUMP.....
It was millions of dollars and was all a diversion.
I saw Freepers jumping on the band wagon demanding the money back.
Good ol Barama was gonna hold those corporate feet to the fire.
Meanwhile he was shoveling trillions out the back door.
Agreed.
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In the last Great Depression, the FED killed ANY bank that was NOT one of ‘theirs’.
Today, these six banks are fleecing the ENTRIE MIDDLE CLASS of their property and the value of the saved dollars into worthlessness.
Starve the Beast is right. Move your money out and cut those credit cards from these banks. They need to die....
And for the gold bugs, APMEX is owned by ...JPM!!!!
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Is cool keep working pleabes
It's too late for that, the beast is so massive now it makes money by simply existing. I feel the only thing that will reverse this nightmare course is a full and total collapse of the economy/banking system.
Absent that, it will continue to survive no matter what we do to try and kill it.
$9 Trillion gone and the jobs still aren’t coming back.
Meanwhile, among the less politically-connected, the FDIC’s ‘problem’ bank list grows to 860...
http://www.bizjournals.com/sanfrancisco/news/2010/11/23/fdics-problem-bank-list-grows-to-860.html
Conveniently left out of the snips is this important bit:
“First, PDFC lending totals represent the aggregate amount of overnight borrowing by the banks —not the amounts outstanding at any one time.”
So, the Fed could have loaned out 100 Billion, overnight, 87 times. That seems much more likely.
Personally, I argued that all these banks should have failed, in order to protect the taxpayer and defend against a permanent culture of bailouts (Moral Hazard).
And, while $100B is a lot of money, nonetheless, the post is likely misrepresentative of what actually occurred.
i’d put money on the fact that those banks helped orchestrate the housing collapse so the dems could get power in 2008
they didn’t care who they crushed to get power. the neds justified the means. nothing new here
their corruption is so obvious
bump
I’m thinking your way too.
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