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REFERENCE--- FOURTEEN TRILLION DOLLARS Behind The Real Size of Obama's Wall Street Bailout; A guide to the abbreviations, acronyms, and obscure programs that make up the $14 trillion federal bailout.
SOURCE motherjones.com
Mon Dec. 21, 2009 12:23 PM PST
The price tag for the Wall Street bailout is often put at $700 billion—the size of the Troubled Assets Relief Program. But TARP is just the best known program in an array of more than 30 overseen by Treasury Department and Federal Reserve that have paid out or put aside money to bail out financial firms and inject money into the markets.
To get a sense of the size of the real $14 trillion bailout, see our chart at web site. Below, a guide to the pieces of the puzzle:
Treasury Department bailout programs
(Remember that Obama's Treasury Dept was controlled by his then-COS Rahm Emanuel---a savvy, connected G/S lobbyist in the WH)
Money Market Mutual Fund: In September 2008, the Treasury announced that it would insure the holdings of publicly offered money market mutual funds. According to the Special Inspector General for the Troubled Asset Relief Program (SIGTARP), these guarantees could have potentially cost the federal government more than $3 trillion [PDF].
Public-Private Investment Fund: This joint Treasury-Federal Reserve program bought toxic assets from banks and brokerages—as much as $5 billion of assets per firm. According to SIGTARP, the government's potential exposure from the PPIF is between $500 million and $1 trillion [PDF].
TARP: As part of the Troubled Asset Relief Program, the Treasury has made loans to or investments more than 750 banks and financial institutions. $650 billion has been paid out (not including HAMP; see below). As of December 21, 2009, $117.5 billion of that has been repaid.
Government-sponsored enterprise (GSE) stock purchase: The Treasury has bought $200 million in preferred stock from Fannie Mae and another $200 million from Freddie Mac [PDF] to show that they "will remain viable entities critical to the functioning of the housing and mortgage markets."
GSE mortgage-backed securities purchase: Under the Housing and Economic Recovery Act of 2008, the Treasury may buy mortgage-backed securities from Fannie Mae and Freddie Mac. According to SIGTARP, these purchases could cost as much as $314 billion ---SNIP---.
LONG READ---go to web site to read more and checkout the shocking financial charts.
SOURCE http://motherjones.com/politics/2009/12/behind-real-size-bailout
This week, financial news organization CNBC gave some mainstream attention to the largest money laundering and racketeering lawsuit in US History, in which “Banksters” and their US racketeering partners are being accused of laundering $43 trillion dollars of ill-gotten gains......said to involve officials in the highest offices of govt and the financial sector.
Since this info was surprisingly revealed by the MSM there was a very suspicious and deadly fallout at CNBC hdq. Within hours the original page was taken down....Police have released very little info and although a wider plot has not been officially implicated, it seems very possible that the child murders of a CNBC exec are a show of force for releasing damning information about powerful people.
Here is the WSJ WRT the lawsuit: “In the District Court lawsuit, Spire Law Group, LLP — on behalf of homeowners across the Country and NY taxpayers, as well as under other taxpayer recompense laws — has expanded its mass tort action into federal court in Brooklyn seeking to halt all foreclosures nationwide pending the return of $43 trillion by the “Banksters” and their co-conspirators, seeking an audit of the Fed and audits of all the “bailout programs” by an independent receiver such as Neil Barofsky, former Inspector General of the TARP program.
Barofsky has stated that none of the TARP money and other “bailout money” advanced from the US Treasury has ever been repaid despite protestations to the contrary by the Defendants as well as similar protestations by /Pres Obama and the Obama Admin both publicly on national television, and, more privately, to the US Congress.
Because the Obama Admin has failed to pursue any of the “Banksters” criminally, and indeed is actively borrowing monies from these same “Banksters” for his 2012 campaign to finance its political aspirations, the national plaintiff-home owners has been forced to now expand its lawsuit to include racketeering, money laundering and intentional violations of the Iranian Nations Sanctions and Embargo Act by the national banks included among the “Bankster” Defendants. “
Some of the alleged conspirators are AG Holder, Asst AG Tony West BIL of Defendant Cali AG Kamala Harris, Jon Corzine (former NJ Governor), Robert Rubin (former Treasury Secy and Bankster), Timothy Geitner--Treasury Secy, Vikram Pandit (recently resigned and disgraced Citigroup Chairman of the Board), Valerie Jarrett (Senior WH Advisor), Anita Dunn (former “communications director” for the Obama Admin), Robert Bauer (Anita Dunn's spouse and Chief Legal Counsel for Obama's Re-election Campaign), as well as “Banksters” themselves, and their affiliates and conduits.
Link to the court filing. 912 Pages:
http://www.scribd.com/doc/111307429/Spire-Law-Federal-Complaint-in-New-York
More in book---"Bankster Chronicles"
But, Liz. Someone had to approve this. Have you got any sources for that?