Page 1 of 2 12 LastLast
Results 1 to 10 of 12

Thread: Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms

  1. #1
    Sage
    Erod's Avatar
    Join Date
    Aug 2008
    Location
    North Texas
    Last Seen
    Yesterday @ 08:15 PM
    Lean
    Conservative
    Posts
    13,036

    Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms

    Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms

    But the extent of the lending to major banks - and the generous terms of some of those deals - heighten the political peril for a central bank that is already under the gun for a wide range of actions, including a recent decision to try to stimulate the economy by buying $600 billion in U.S. bonds.

    "The American people are finally learning the incredible and jaw-dropping details of the Fed's multitrillion-dollar bailout of Wall Street and corporate America," said Sen. Bernard Sanders (I-Vt.), a longtime Fed critic whose provision in the Wall Street regulatory overhaul required the new disclosures. "Perhaps most surprising is the huge sum that went to bail out foreign private banks and corporations. As a result of this disclosure, other members of Congress and I will be taking a very extensive look at all aspects of how the Federal Reserve functions."

    The Fed launched emergency programs totaling $3.3 trillion in aid, a figure reached by adding up the peak amount of lending in each program.
    See, this stimulus money was never intended to create jobs. It was to bail out banks (and friends of the administration).

    Change we can believe in. Puke.

    I wonder how much went into Democratic campaign slush funds, too?

  2. #2
    Sage
    Erod's Avatar
    Join Date
    Aug 2008
    Location
    North Texas
    Last Seen
    Yesterday @ 08:15 PM
    Lean
    Conservative
    Posts
    13,036

    Re: Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms

    FT.com / US / Economy & Fed - European banks took big slice of Fed aid


    Foreign banks were among the biggest beneficiaries of the $3,300bn in emergency credit provided by the Federal Reserve during the crisis, according to new data on the extraordinary efforts of the US authorities to save the global financial system.
    Were we told that the stimulus was to bailout foreign banks like this.

    These foreign banks are bailed out, and it was all charged to our already maxed-out credit card? We printed money for this?

  3. #3
    Guru
    Councilman's Avatar
    Join Date
    Apr 2009
    Location
    Riverside, County, CA.
    Last Seen
    11-04-11 @ 10:16 PM
    Gender
    Lean
    Conservative
    Posts
    4,454
    Blog Entries
    10

    Re: Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms

    The fraud and lies from the "Trifecta of Doom" Obama, Pelosi, Reid, runs very deep and they will look you in the eye and lie to you about it even in the knowledge that you know they are lying.

    They are pathological liars and one day the amount of money that went out to friends of Legislators and the percentage that came back either as direct corruption or hidden as campaign contributions might come out.

    On top of that: Some of the money went for such items as, Railroad Retirement Board.

    Social Security Administration: 13 billion spent upgrading computers and one time payments. Not stimulating as there is no direct impact to job creation.

    Department of Labor: 18 billion spent on providing education and worker training to workers and "easing the burden of the recession" by assisting and expanding access to health care.

    Department of Justice: 1 billion spent on providing training, equipment.

    Department of Education which has spent 14 Billion on state grants, school modernization, Pell grant funding and possibly preserving education jobs in states where funding is critical.

    To name a few areas where there was either very little but mostly not direct stimulus connection.

    $3 billion was allotted for rebates for Cash for Clunkers and NO net jobs were created and the sales only caused a shot term blip in sales that then fell off to below what they would otherwise have been so there was no net increase in car sales because of the program that cost $24,000 per car to give and average of $4.000 per car sold and the most sold were Toyota.

    The Stimulus like like Obama Care was and is a fraud, and not designed to do what we were told it would do.

  4. #4
    Sage
    Erod's Avatar
    Join Date
    Aug 2008
    Location
    North Texas
    Last Seen
    Yesterday @ 08:15 PM
    Lean
    Conservative
    Posts
    13,036

    Re: Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms

    This truly is the biggest story of the year, yet it will get little if any coverage. In fact, this is not "news" because this information could have been released anytime over the last year, but right after the elections, they get this out there so it can die in time for the next go-round. Instead, we here about DADT, wikileaks, and Bristol Palin. Distractions, distractions, distractions.

    Obama said the stimulus to help homeowners and create jobs. He said during his campaign that he would go after "big business" and those "responsible for the financial crisis". Then what does he do? He bails out the banks here and abroad, General Electric, and all the big wigs and unions he owes favors to.

    And yet, his sheep just sit quietly and nod.
    Last edited by Erod; 12-02-10 at 05:14 PM.

  5. #5
    Sage

    Join Date
    Jul 2009
    Last Seen
    05-16-15 @ 02:32 PM
    Lean
    Undisclosed
    Posts
    12,537

    Re: Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms

    wait til mom and pop hear about this

    foreign banks---barclays, ubs, dexia, bank of scotland, societe generale, rbs, dresdner, bayerische landebank---among the "biggest beneficiaries of THREE POINT THREE TRILLION dollars in united states taxpayer backed loans

    another newly disclosed recipient of 16B of "help" was ge, parent of msnbc

    http://www.washingtonpost.com/wp-dyn...120106870.html

    and an unnamed official from the imf, according to cnbc, is eager to DO MORE

    CNBC: US Ready to Back Bigger EU Stability Fund

    meanwhile, just look what's going on (in only the last week) in europe---is this a SOUND INVESTMENT?

    http://www.nytimes.com/2010/12/01/bu...ds.nervouseuro

    EU Bailout News: Ireland's Ripples Spread Globally - WSJ.com

    Euro, Stocks, Spanish Bonds Fall on Concern European Debt Crisis to Spread - Bloomberg

    Ireland Gets $113 Billion Bailout as EU Ministers Seek to Halt Debt Crisis - Bloomberg

    Thousands protest against Irish bailout | World news | guardian.co.uk

    Ireland's Relief Proves Fleeting as `Day of Reckoning' Nears: Euro Credit - Bloomberg

    My Way News - Portugal, Spain hit by investor fears over debt

    CNBC: In Bailouts, Spain Will Be the Biggie

    My Way News - Irish bond yields hit euro-era high, banks sink

    EU rescue costs start to threaten Germany itself - Telegraph

    Euro-Zone Crisis News: Fears of Domino Effect Spread Across Europe - WSJ.com

    the fed has for a year and a half worked its butt off to keep these embarrassing details from the taxpaying public which will ultimately be held responsible

    Fed Seeks Delay of Bank Data Release While Considering Appeal - Bloomberg

    now we know why

    just YESTERDAY the supreme court criticized the white house's overuse of foia

    High court questions broad use of FOIA exemption - Forbes.com

    despite the hopey-changey crap we all had crammed down our throats during a year of charismatic campaigning, transparency to this white house, it appears, does not extend beyond WIKILEAKS

    remember, geithner's fed instructed aig to keep the terms of its bailout secret from the sec, surely for similar reasons

    and don't forget obama's SECRET deal with phrma

    Geithner's New York Fed Pushed AIG To Keep Sweetheart Deals Secret (READ THE AIG EMAILS)

    Internal Memo Confirms Big Giveaways In White House Deal With Big Pharma

    sadly, the secrecy continues

    Fed Withholds Collateral Data for $885 Billion in Financial-Crisis Loans - Bloomberg

    of course, bernanke couldn't keep quiet his decision to pump another 600B of qe last month, more taxpayer secured purchases of crap

    Fed to Buy $600 Billion of Treasurys - WSJ.com

    it was bernanke's gambit which killed obama's g20 three days later, paving the perplexed way for the nonplussed president's RODNEY DANGERFIELD MOMENT

    NationalJournal.com - America?s Rodney Dangerfield Moment - Friday, November 12, 2010

    chickens are roosting, progressives

    party on, proudly
    Last edited by The Prof; 12-02-10 at 09:53 PM.

  6. #6
    Student
    Join Date
    May 2009
    Last Seen
    04-11-17 @ 11:30 AM
    Gender
    Lean
    Moderate
    Posts
    275

    Re: Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms

    Quote Originally Posted by Erod View Post
    Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms



    See, this stimulus money was never intended to create jobs. It was to bail out banks (and friends of the administration).

    Change we can believe in. Puke.

    I wonder how much went into Democratic campaign slush funds, too?
    It might have helped had you read the articles you posted because neither of them had anything to do with the Obama Administration or the actual stimulus package that Congress passed in Feburary 2009. Instead they discussed financial measures that the Federal Reserve began to take all the way back in the summer of 2007 to help stabilize the economy.

    Only an idiot would attack either Presidents Bush or Obama for actions taken by an almost completely institution like the Federal Reserve.

  7. #7
    Sage
    Erod's Avatar
    Join Date
    Aug 2008
    Location
    North Texas
    Last Seen
    Yesterday @ 08:15 PM
    Lean
    Conservative
    Posts
    13,036

    Re: Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms

    Quote Originally Posted by Spaceman_Spiff View Post
    It might have helped had you read the articles you posted because neither of them had anything to do with the Obama Administration or the actual stimulus package that Congress passed in Feburary 2009. Instead they discussed financial measures that the Federal Reserve began to take all the way back in the summer of 2007 to help stabilize the economy.

    Only an idiot would attack either Presidents Bush or Obama for actions taken by an almost completely institution like the Federal Reserve.
    LOL, whatever. Then why did Obama sell it like he did?

  8. #8
    Slayer of the DP Newsbot
    danarhea's Avatar
    Join Date
    Aug 2005
    Location
    Houston, TX
    Last Seen
    Today @ 01:30 AM
    Gender
    Lean
    Conservative
    Posts
    39,725

    Re: Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms

    Quote Originally Posted by Erod View Post
    LOL, whatever. Then why did Obama sell it like he did?
    For the very same reason Bush sold it. Here is the difference between you and me - I blame everybody, not just the people with either a D or an R after their name.
    The ghost of Jack Kevorkian for President's Physician: 2016

  9. #9
    A Man Without A Country
    Mr. Invisible's Avatar
    Join Date
    Feb 2010
    Location
    New Jersey
    Last Seen
    12-09-17 @ 06:49 PM
    Gender
    Lean
    Other
    Posts
    4,957
    Blog Entries
    71

    Re: Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms

    The most disturbing part of all this economic mess is that people are more interested in pointing fingers at one another than actually solving the problem
    "And in the end, we were all just humans, drunk on the idea that love, only love, could heal our brokenness."

  10. #10
    Sage

    Join Date
    Jul 2009
    Last Seen
    05-16-15 @ 02:32 PM
    Lean
    Undisclosed
    Posts
    12,537

    Re: Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms

    what we learned today:

    Tax Breaks for Bailout Recipients Spark Debate - WSJ.com

    A series of tax relief measures is saving companies bailed out by the government billions of dollars at a time when concern over tax revenues has risen.

    Although the Treasury Department first provided the tax guidance in the fall of 2008, the magnitude of the tax savings has become clearer in the past year. The tax relief drew new scrutiny last month after Wall Street bankers touted it to investors in the initial public offering of General Motors Corp.

    The tax breaks, already known to apply at GM and Citigroup Inc., also are helping results at another company rescued by Uncle Sam, American International Group Inc., according to tax experts and people familiar with the companies.

    The Treasury gave the same treatment to mortgage agencies Fannie Mae and Freddie Mac, but their ability to save taxes as a result is less certain, the same people said.

    The tax treatment allows companies whose ownership changes to keep the right to use past losses and other deductions to offset future profits for as long as 20 years. Ordinarily, companies' ability to use such tax assets is curtailed when they are acquired, under a 1986 law aimed at curbing "trafficking" acquisitions arranged to capture tax shelters.
    would it be fair to call such incentives, "tax cuts for the rich?"

    "corporate welfare?"

    you can decide as well as i

    either way, it certainly appears this admin plays favorites

    and the pets are pretty upscale

    aig---we've already seen geithner's fed instruct the tawdry too big to keep SECRETS from the sec

    http://www.huffingtonpost.com/2010/0..._n_414449.html

    geithner and dead dodd also are responsible for grandfathering those obscene aig bonuses, remember?

    http://articles.latimes.com/2009/mar...ness/fi-dodd19

    f & f---the home lenders, responsible for some 70% of american mortgages, more than any institutions responsible for bringing us all precisely here, are, you recall, EXEMPT from barry obama's WALL STREET REGULATORY REFORM, the perplexed president's second most substantial legislative accomplishment

    Wall Street Reform: A Summary of What's In the Bill - Political Hotsheet - CBS News

    meanwhile, ON THE STREEET the results ARE IN---9.8% unemployment and heading the WRONG WAY

    this administration has failed, is failing

    sorry
    Last edited by The Prof; 12-03-10 at 09:47 PM.

Page 1 of 2 12 LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •