Did Wall Street run the US economy into the ground starting in 2005, 2006, and were they rewarded with trillions in low interest loans? Did the US economy need to be resuscitated in late 2006 because of financial mismanagement, and why has it been hidden from the public for the last six years? Have we become a true plutocracy?
How do we justify giving billions and trillions in loans to save Wall Street Banks yet stand by as our state and public education system are destroyed with billions and soon trillions in budget cuts. Bloomberg news had to fight all the way to the Supreme Court to get the real totals and the names of these financial institution that received these almost free loans. Shame on America for choosing Wall Street before our children and a dream of a quality education.
Interest on the Federal loans was at an amazing 0.01% FREE!
Just think if the Federal Reserve has the power to loan 7.7 trillion dollars in secret, what else are we being kept from finding out?
The Daily Show with John Stewart: government bailouts 7.7 trillion
Link to Bloomberg Article