Thursday, December 02, 2010

Fed ID's Companies That
Used Crisis Aid Programs

by Jeannine Aversa - December 1st, 2010 - Associated Press

The Federal Reserve revealed details Wednesday of trillions of dollars in emergency aid it provided to U.S. and foreign banks during the financial crisis.

New documents show that the most loan and other aid for U.S. institutions over time went to Citigroup ($2.2 trillion), followed by Merrill Lynch ($2.1 trillion), Morgan Stanley ($2 trillion), Bear Stearns ($960 billion), Bank of America ($887 billion), Goldman Sachs ($615 billion), JPMorgan Chase ($178 billion) and Wells Fargo ($154 billion).

The world's monetary system is totally corrupt. Having first allowed itself to become a partner with Fannie Mae and Freddie Mac in extending credit to people with no jobs and no way to pay back the loans under fraudulent approvals that hid the risk, the world's bankers then created derivatives and credit default swaps and various other criminal scams based on the standard pyramid logic that Madoff type scum have long used to steal from the gullible to blur accountability for the corruption.

The American tax payer is the most gullible of all, so George W. Bush and his fellow Wall Street buddies - joined by Barack Obama with his Soros led global hedgefund buddies, then committed both the U.S. Treasury and the Federal Reserve to bailout the people who did the stealing. The biggest thieves were the entrenched fat cats at Citigroup. Why is anyone surprised that in addition to the billions they borrowed from TARP, they took another $2.2 TRILLION from the Federal Reserve Bank? Why is anyone also surprised that Obama's budget chief Orszag has just been named to head Citigroup?

What does seem bizarre though is why the Federal Reserve thought that they had the right to send hundreds of billions of dollars to foreign banks. They were not subject to the rules that had hung the American banking industry out except for their own greed. Why are we supposed to protect foreign banks from their own greed? Oh. That's right. It is because it is a crisis. Call it a crisis and no one is supposed to look for who created the crisis. Certainly not the equally corrupt politicians who are owned by these global banking titans.


Post a Comment

<< Home