Audit of the Federal Reserve - 2008 TARP Actually $16 Trillion

http://www.forbes.com/sites/traceyg...the-feds-16-trillion-bailouts-under-reported/

http://www.sanders.senate.gov/newsroom/news/?id=9e2a4ea8-6e73-4be2-a753-62060dcbb3c3

http://www.huffingtonpost.com/rep-alan-grayson/the-fed-bailouts-money-fo_b_1129988.html


How did we miss this?!?!?!

 

We weren't paying attention. Same way some of the CEO's of firms receiving TARP funds got multi-million dollar compensation packages.

Here be da link.

 

holy smokes!

From the third link, the last sentence makes it even more special:

 

The list of institutions that received the most money from the Federal
Reserve can be found on page 131 of the GAO Audit and are as follows..

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs:$814 billion ($814,000,000,000)
Royal Bank of Scotland (UK):$541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom):$181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)
and many many more including banks in Belgium of all places

 

We didn't miss this. This is a big reason why many of us are backing Ron Paul. He's the only one who's been pushing to audit the Fed and make them accountable.

It's absolutely disgusting.

 

I am with you on Ron Paul. The media is pulling the same schtick with him that they did with this news; they aren't covering it.

 

And people worry that he seems "kooky" or that he thinks we shouldn't embargo Cuba...

 

stupid question 1: is Citimortgage part of Citigroup?

stupid question 2: if they are and they got that damn much money, 'you think they'd mind if i didn't pay my mortgage anymore? i could be persuaded to abandon my morals if they'd like to save me that payment every month.

 

Where are Chrysler and GM on those lists?

 

That's the REAL problem with America! This country is the F-ing Bravo Channel.

Congress' Job Approval rating is a paltry 13.2%
Only 29% of Americans feel the country is going in the proper direction

And we'll vote most of these dicks-in-a-bag, back into office.....

 

It's so damn frustrating that that's true and the problem is that no one else will run for the offices.

 

Compared to them they were just pocket change...
But fortunatley with them we got some return for our money and people are still at work because of it. With the financial bailout all the working class americans got is screwed.

 

Change the rules. I'll run.

 

And some people want to get rid of the 99%ers first...

 

RP's Other Reason for Auditing The Fed;

The Fort Knox Gold...
http://www.newsroompanama.com/busin...if-sex-scandal-missing-gold-in-fort-knox.html

 

How is the Embargo tied to TARP?

 

I'm gonna be there someday. I have some things to take care of first, but am working to make a change in the US one day. It's a very hard place to break into.

 

You mean the OWS'ers? If this was what they were protesting, they should have been in DC the entire time. ODC.

I'd bet 99% of the OWS'ers have no idea about the facts of this report.

 

Check the dozen banking reform posts I've been spewing since then. There hasn't been any reform and the next bailout will be beyond anything we can handle. Too Big to Fail will be Too Big to Bailout.

From day one this is what the smart people have said-

"The way to cut our Gordian financial knot is simple – force the big banks to become smaller. Small banks and other financial institutions can be allowed to fail unencumbered by any kind of government bailout. MF Global failed recently with about $40 billion in total assets; the shock waves did not bring on global panic. A properly functioning market economy involves failure of this kind (although it is traumatic for employees and, in this specific case, also for many customers.)"

The mega banks should have been seized and broken up with their assets divided among smaller healthy banks. (Proposed by Simon Johnson before Congress). Since neither Bush nor Obama had the balls to do it they only paved the way for the next bailout. The reason we should be scared is because the big banks are now BIGGER.

PS: Read the break down of John Hunstman's approach to dealing with the Big Banks in the article. Novel idea!

 

Goobermint seize the fruit of capitalists work?