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Secret Federal Reserve Loans: Wall Street's Biggest Banks Got $1.2 TRILLION

Federal Reserve Bank Loans

First Posted: 08/22/11 11:45 AM ET Updated: 10/22/11 06:12 AM ET

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Bloomberg:

Fed Chairman Ben S. Bernanke’s unprecedented effort to keep the economy from plunging into depression included lending banks and other companies as much as $1.2 trillion of public money, about the same amount U.S. homeowners currently owe on 6.5 million delinquent and foreclosed mortgages. The largest borrower, Morgan Stanley (MS), got as much as $107.3 billion, while Citigroup took $99.5 billion and Bank of America $91.4 billion, according to a Bloomberg News compilation of data obtained through Freedom of Information Act requests, months of litigation and an act of Congress.

Read the whole story: Bloomberg

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Fed Chairman Ben S. Bernanke’s unprecedented effort to keep the economy from plunging into depression included lending banks and other companies as much as $1.2 trillion of public money, about the s...
Fed Chairman Ben S. Bernanke’s unprecedented effort to keep the economy from plunging into depression included lending banks and other companies as much as $1.2 trillion of public money, about the s...
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sympathy
102 Fans
12:19 AM on 09/09/2011
The most educational book I read was All the Devil s Are Here. It didn't make any sense to me that they would give the banks a few billion when the bad paper was actually in the trillions. AIG is being propped up with 'loans', and it's all die to the fact that they are all friends, and none of these people, not then and not now, give a single thought to the lives they have ruined!
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HHUA
743 Fans
12:18 AM on 08/23/2011
Welcome to the United Corporations of America... Government for the RICH by the RICH!!!

As long as our elections and government continue to be auctioned off to the "highest bidders" we are a "democracy" no longer. They will just keep feeding the masses the "blue pill" (reference "The Matrix") aka "tea" while leading them by the nose to their own slaughter.
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furby6
173 Fans
03:08 PM on 08/22/2011
Americans have less to say about corporate financial hijackings than they do about Kim Kardashian's wedding. Therein lies most of that nation's problems.
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HHUA
743 Fans
11:59 PM on 08/22/2011
Bingo! And with all this "tea" we're drinking that's not likely to change anytime soon.
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furby6
173 Fans
10:29 AM on 08/23/2011
I didn't find this myopia any more prevalent in one particular political group than another. It ails anyone who's education was compromised by mass media.
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Michael Nonome
2 Fans
11:16 AM on 08/22/2011
What about the 16 TRILLION in bailouts last month when they were audited?

http://www.unelected.org/audit-of-the-federal-reserve-reveals-16-trillion-in-secret-bailouts

http://sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3
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marine1942
809 Fans
11:12 AM on 08/22/2011
Do you know anyone who received federal money ? Nope, It all went to Obama's Wall Street buddies and he is now preparing QE3 to send them more. If people vote with their wallets then Obama is gone
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HHUA
743 Fans
12:00 AM on 08/23/2011
To be replaced by whom exactly? Obama may be Wall Street's 'mistress' but the Repubs are MARRIED TO THE MOB!!!!
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