Thursday, December 2, 2010

THE GREAT FEDERAL BANK CAME TO THE RESCUE.

I SUPPOSE WHEN YOUR BIG BROTHER IS FED YOU CAN ASK FOR A GREASED LOAN WORTH OVER 3TRILLION. GOOD NEWS? THEY SAY ITS MOSTLY PAID BACK. OK WHO MADE ALL THE MONEY ON THE INTEREST? WHERE IS THE MONEY ON THE INTEREST? WHAT ABOUT OUR NATIONAL 14TRILLION DEBT HOW CAN THE FED FIX THIS SINCE THEY CAN FIX THE ALMIGHTY BANKS. INSTEAD THEY DO A QE2 600BILLION SOCKING MORE DEBT BACK TO WE THE PEOPLE. REMEMBER QE1 1.7TRILLION.

http://henrypatrick1736.blogspot.com/2010/11/qe2-strikeback-another-wasted-attempt.html
The Federal Reserve has revealed details of more than $3 trillion in emergency aid it provided to U.S. and foreign banks during the financial crisis.
Newly released documents show that the biggest recipients of aid in the U.S. included Citigroup Inc., Morgan Stanley, Merrill Lynch, Bear Stearns, Bank of America Corp. and Goldman Sachs & Co. Among the largest foreign bank recipients were Bank of England, Swiss National Bank, Barclays and Bank of Japan.
The documents are a reminder of how crippled the financial system had become during the crisis and how much it's recovered since. Banks earned $14 billion from July through September this year.
The Fed released the data in the form of more than 21,000 transactions. The disclosures are required under the financial overhaul law. The Fed's programs were credited with helping restore the health of individual banks and stabilize the financial system.
The documents detail more than $2 trillion the Fed lent through eight programs from December 2007 to July this year to ease a credit crisis. It came at a time when credit had virtually dried up and was worsening the deepest recession since the Great Depression.
The lending programs had never been used before and are now defunct. Most of the loans have been repaid, and none are overdue, Fed officials say.

http://www.moneynews.com/StreetTalk/Fed-CrisisLending/2010/12/02/id/378680

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