Posted on 12/01/2010 6:28:22 PM PST by Nachum
The Federal Reserve has lifted its veil of secrecy regarding special lending programs during the financial crisis, responding to a mandate from Congress by revealing the specifics of transactions with firms like Goldman Sachs and Citigroup. (Snip) The numbers are staggering, encompassing more than a dozen emergency programs set up starting in 2007 or 2008. In one program alone the Fed doled out nearly $9 trillion in funds to borrowers such as Morgan Stanley and Merrill Lynch, largely at interest rates below 1 percent.
(Excerpt) Read more at csmonitor.com ...
Ron Paul please step to the front of the line and take care of this problem!
They loaned out $ 9 TRILLION?
Our whole GDP is $14.5 TRILLION. Just how much mkoney does the “Federal” Reserve really have?
For 2013 we have to repeal the three abortions of 1913: the income tax, direct election of US Senators , and the Federal Reserve.
And our dollar still holds value to whom?
Shouldn’t this be in Breaking News?
Trillions for thee “austerity” for me. It’s for my own good.
The Federal Reserve, like all banks, creates the money it loans at the time of the loan payout. Its actually how all money is created.
Why not? It been reduced to play $$ at this point.
You'll wonder where the trillions went, when dealing with the Federal-mint.
Why is this “astounding”?
I’ve been reading about it for YEARS!
There’s nothing new under the sun.
Get a load of this.
On top of all that (and even helping Toyota) the Fed bought over $1.1 trillion in mortgages packaged into the form of securities. The mortgage bonds are backed by Fannie Mae and Freddie Mac, the twin mortgage giants now owned by taxpayers.
Deutsche Bank, a German lender, has sold the Fed more than $290 billion worth of mortgage securities, Fed data through July shows. Credit Suisse, a Swiss bank, sold the Fed more than $287 billion in mortgage bonds.
Are The Banks Insolvent? Fair Question, Given This....
http://market-ticker.org/akcs-www?post=173721
Is this related to the headline on Drudge about Fed money going to foreign banks?
Insolvant?
Maybe on purpose too...
I think so.
That money is still sloshing around in the system SOMEWHERE and many folks have become very, very rich off it's rounding errors.
One day that money will be competing with OUR money for commodities, goods and services.
Maybe not technically as long as they continue to use mark to market accounting but it sure looks that way if they had to use real numbers on the value of their assets. Think how much worse it would be if they hadn’t been able to offload over a Trillion dollars of those toxic loans onto the Fed (really us the taxpayers because we own Fannie/Freddie).
I definitely believe they shoved their faulty loans onto us on purpose. They created those risky loans, i.e., liars loans, loans that reset, etc. out of greed then when it came back to haunt them they socialized their losses onto the taxpayers.
Just another scam. Trillions worth of scams. You would think that the public would bring out the pitch forks, tar and feathers.
“For 2013 we have to repeal the three abortions of 1913: the income tax, direct election of US Senators , and the Federal Reserve.”
Amen!
Woodrow Wilson, the worst President in American history. He thought he was so superior in intellect but he oversaw the beginning of the power grab by the progressive movement.
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