Bloomberg financial news reports 7.7 trillion dollars in US backed loans given starting in 2007 to big banks and Wall Street financial institutions! The real question is, how was this hidden from Americans for the past 6 years.
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
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
This is absolutely absurd! This just goes to show how much value is placed on money, Wall Street and how little is placed on people. Not only is this wrong, but it brings to focus the immense greed of those who had a hand in this. 7.7 trillion is a very, very, very large amount of money. That money could've been divided up to address many of the issues our nation & economy is facing now such as unemployment and education. It's sad that America's priorities are way off. Derrick 4)775-1871
ReplyDeleteThis is disgusting!
ReplyDeleteDo not just watch one comic news report and take a stand, that is nonsence. The Feds primary function is to keep the economy going. they are suppose to lend to banks at low interest rates, when the economy is slow. this is meant to entise the banks to lend thus moving money to business who then hire people etc. When the economy is great the fed increases the rate to entise the banks to stop loaning thus slowing the economy, if this did not happen, banks would lend themselves out of money.
ReplyDeleteHow low can they sink? What evil corrupt people won't do for money!! There is a special place for these scum in the after life!
ReplyDeleteAnonymous said...
ReplyDeleteDo not just watch one comic news report and take a stand, that is nonsence. The Feds primary function is to keep the economy going. they are suppose to lend to banks at low interest rates, when the economy is slow. this is meant to entise the banks to lend thus moving money to business who then hire people etc. When the economy is great the fed increases the rate to entise the banks to stop loaning thus slowing the economy, if this did not happen, banks would lend themselves out of money.
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Idiot. They gave Wallstreet OUR money, since we are the ones left holding the bag. I am sick of these thieves operating without impunity. 7.7 Trillion? You don't view that a a tad excessive? Wanna calculate the interest earned by the banksters loaning that money out? How much do ya suppose went to foreign banks or the derivative markets? How much of that freshly printed cashola ended up back in circulation and what impact has this "give-away cash" had on inflation/hyper inflation. Don't attempt to justify blatant robbery friend with clever wording. That's why we hire politicians. This is just plain wrong and it's time for change.