Fed Loaned Banks Trillions in Bailout, Bloomberg Reports

Amazing,

And then they have the gall to raise fees. Of course they have a right to make a REASONABLE profit but that’s not good enough. They have to make obscene profits on our backs.

This is why I don’t agree with the tea party at all – they actually want to reduce oversight and regulation. That’s basically what happened under Bush – it was a free for all – and look where it got us. And lest someone call me a liberal I will concede that the Democrats are no better now as they seem to be owned by corporate interests lock stock and barrel.

Therein lies the problem folks – working people have virtually no one representing their interests. We are just pawns in their little game.

Those same working people can also choose to vote for someone that isn’t spoon fed to them through the media. Of Course they choose not to.

At those amounts per day, the banks could pay off the US deficit and not feel it! While congress argues about 1 or 2 trillion in cuts over ten years!
We have been sold down the river by the plutocracy.

It is a disgrace that the US govt took OUR money and gave it to these banks, who are now making life very difficult and are still affecting our economy in a negative way. When will Congress realize that it is OUR money, not theirs. Had they given every taxpayer a share of that money, the economy would have been on the rise because the money would have been spent. Instead they have given it to banks, car makers, etc. who keep the money for themselves and still screw the American public. Don’t vote for any incumbents, they are all huge failures!!!!

Worse was the fact that these banks were not required to use the money to loan out for businesses to maybe hire or improve themselves, to modify loans for people whose mortgages were more than the value of the home because of the shady dealings of the realtors/mortgage companies/banks/Wall Street. Nope, they used it to give themselves huge bonuses and enrich themselves. I am guessing this $7.7trillion is part of the huge deficit the Republicans blame on Obama but is increasingly proving to have come about long before he walked into office. Bernanke and Paulsen sold COngress a bill of goods ["too big to fail"] and then laughed at us, the people.

This is all Obamas doings. He was robbing the treasury he was. Thank goodness the Tea Party is keeping him in check now.

This did happen under Bush but when Obama took office it was his dutyas the leader of this nation to know this and bring to our attention and he also choose not to and forked out more money to them..And lets not forget he got big contibutions from them..After all he was the one who promised no more secrets remember..Transparancy within congress?

I know there are Obama haters on here who will jump right on him. WHY? If you have any brains you will see he took office in Jan. TWO THOUSAND AND NINE. This ALL took place in TWO THOUSAND EIGHT. Now who was in office then? Everyone together: BUSH.
P.S. Remember the Savings and Loan Scandal? Neil BUSH.

Do the Math 7.7trillion

Total Value of all Housing Units in the US now exceeds $20 Trillion

——————————————————————————–

According to the 2006 Census Bureau American Factfinder
Community Survey

Regions
Northeast $4.373 Trillion
Midwest $3.495 Trillion
South $5.891 Trillion
West $6.549 Trillion

now find total value of US forclosures since 2007. Ooops we have problem Houston, the numbers, are off. Did a third of the households in America go belly-up? Has 1/3 of your neighborhood disappeared? Something’s rotten in Denmark, folks.

GreggW….2008 was still Bush’ watch. You’re wrong on who bailed out the financial insitutions – that was Bush. Obama did the auto industry

And you’ll STILL see the clueless backers of the RIGHT insisting that EVERYTHING wrong is President Obama’s fault which is FALSE.

Obama was elected in Nov – don’t tell me that he didn’t make promises – it’s been downhill since then – I can think intuitively and factually – both tell me that Obama did us in — neither Bush caused this Obama did wilt he feathered his nest – we are how many trillion in debt now? Criminals and secrecy is what we have with Obama – everything he said was a lie – transparency – yeah right – coverup! The radicals continue to reach back to blame someone else – I didn’t vote for Obama you did or maybe not as many people as they say – it could have been rigged – look at the ACORN mess.

Posted by: Mary | November 28, 2011, 2:44 pm 2:44 pm
GreggW….2008 was still Bush’ watch. You’re wrong on who bailed out the financial insitutions – that was Bush. ************************ That’s what I said. Obama took office 20 January 2009. Most of the bank loans took place during the Bush administration.

GreggW…my apologies I must have transposed your words (I do it with numbers too sadly). I apologize

The headline should have contained the word – -”Secret”. That would have grabbed a ton of attention from a lot more people!

“If you have any brains you will see he took office in Jan. TWO THOUSAND AND NINE. This ALL took place in TWO THOUSAND EIGHT. Now who was in office then? Everyone together: BUSH.” The FED made the loans to save the banks, so who was president at the time was irrelevant, and these were LOANS, not handouts, which the banks have repaid or have been paying back. The election was over so President-elect Obama would be moving in the following month. Does even the left actually believe that he was not briefed on the situation prior to his inauguration or not made aware of it immediately afterwards? Any reason why he quiet about it for so long?

We must reform the banking system to prevent fraud and manipulation. Restore the Glass-Steagall Act – the Depression-era law, done away with by President Clinton, that separates investment banks from commercial banks. This law would correct the conditions for the recent crisis, as investment banks could not take risks for profit that create kale derivatives out of thin air, and wipe out the commercial and savings banks.

Ronnie (boy) Reagan turned this Government into a Fascist run Government 32 years ago. I saw him giving a speech one time, with one of the corporate ceo’s of Merrill Lynch standing next to Reagan, dictating to him, what to say. Reagan’s kids had nothing to do with him for over 20 years, because of his rotten politics. With the taxes the now tech world has generated for Government use, there is now more to dip into & the quest for power that it has also generated, has contributed to the greed we see. But one thing everyone on here needs to think about, is this, How corrupt are you. You can’t expect your Government to be honest, if you are not! We all are a reflection of our society, aren’t we? The only thing that will prevent corruption is to put lawful restrictions on politicians & make them answer for every decision that they make & include the citizens of this country in the decision making process. It would be called, forced accountability on everyone part in this country!

Bartender…give me another beer–I want to catch-up with all these people venting their views-noboby is making sense. They are all DRUNKED-UP

Wow, how far does this really go and by that I mean how far into government, how many crooks are involved. It’s funny because during this mess how many times in small talk did me and other people say the same thing, why aren’t they giving the money to the largest portion of the economy, the 70% that control the economy. They are all crooks and have taken away who knows how much of our hard earned money and we have little we can do about it. The crooks stealing from the crooks who are stealing from us.

There is NO SUCH THING AS GOVERNMENT MONEY. It is all TAXPAYER DOLLARS. Americans must demand transparency in the dispersion of these funds with the rarest of exceptions and all those exceptions should be subject to citizen review.

Loan… do you not understand what that word is? they paid and/or are paying back the money that was loaned to them. What do you think would have happened had the banks closed their doors? does no one study history anymore? its not just the investments that they do but they hold the money for the companies that are your employers. They close the doors because they go bancrupt and your employer has no money to pay you because it is GONE. Same with anyone who had a personal and saving account in those banks. That is why they are too big to fail… too many companies keep their money in the larger banks.

Again.. Loans. Look up the word.

If these were loans, then how much profit did the FED make? And exactly WHO got the profits???

The infamous “Military-Industrial Complex” has been replaced by the much worse “Fed Reserve-Banking Industry Complex”.

I remember reading an article not long after the bailouts about how an admin, or someone like that leaked info about one of the executives using bailout money to re-decorate his office, and it listed each item and what it cost, for example $1,000 for a trash can, etc… How come there wasn’t any checks and balances in place to make sure the money was used appropriately! OUR money went to things like re-decorating someone’s office!!!???? And on a similar subject, the money that Solyndra (Fremont, CA) received from the government… funny how all the executives gave themselves big bonuses shortly before announcing that the company was filing for bankruptcy and laying everyone off. Again, why isn’t someone in charge of watching to make sure the money is used appropriately!!! How many times does this have to happen before they learn??? Processes and check & balances should be set for when money is given to corporations. Just like how the Sarbanes-Oxley Act came about because of the Enron scandal.

TO ALL THE IDIOTS BLAMING THIS ON BUSH…If you READ the article, they were referring to one specific day the feds bailed out the banks. But the democratic congress decided to bailout those companies, NOT BUSH. Then Obama did exactly what democrats do best; that’s interfere with the free market and print money. Obama and congress should have let the banks and auto industry fail. (by the way, not saying Bush is any better. Just hate when democrats won’t take any responsibility like usual)

RE; SCi and ERIC:
Since you apparnetly do not know the history line for the bank bailout, here is the date: On October 3, 2008, the Senate passed the $700 billion bank bailout bill. The guts of the bill was the same as the three page document submitted on September 21, 2008, by Treasury Secretary Henry Paulson. The bill was signed by Bushm not Obama since Obama was not elected until Nov 2008 and sworn in office in 2009. He could not have signed the bill because he was not the
President. They have a name for people who refuse to face the truth that’s presented to them!

Hello? How is this Obama’s fault? He did not take office until 2009. Someone explain this to me, please?

Vote Ron Paul!! The only who has not sold himself to the special interest groups.

The Federal Reserve is Global now. Its a Private Bank owned by those familiar families and royal houses. If it loaned out 7.7 trillion, then it must have 77 trillion in debt notes which what money is. This means the economy is about to rebound without inflation, although one might think otherwise.

You know teabaggers and EmoProgs are desperate when they start invoking ACORN amidst revealing their hatred for Obama either way.

Go to Factcheck.org where you will see lies about ACORN have already been debunked long since.

And by the way, President Obama was INAUGURATED in 2009, and barely began implementing his policies long enough for them to take affect.

Just a little fact I felt needed sharing.

To Everybody Blaming Bush or Obama: NEITHER of them were responsible for this–the Federal Reserve made those loans, and the Federal Reserve is NOT part of the US Government. It’s a private institution that works WITH the US Treasury, but not for it. The Fed answers to nobody but itself. Congress won’t even pass a bill to just AUDIT the Fed–there’s no way they (or the Executive Branch) control it.

It is abundantly clear that the average American has no idea how the Fed and the federal government interact. Do yourself a favor and do some research–there’s plenty online. Or read Ron Paul’s book, “End the Fed”. There are some serious shenanigans going on because of central banking (i.e. the Fed and it’s international counterparts), and you should try to have some idea of what the heck is going on. This is a wake-up call. Don’t hit the snooze button again.