The Conservative Cave
Current Events => Breaking News => Topic started by: NHSparky on December 02, 2010, 10:36:26 AM
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Fed aid in financial crisis went beyond U.S. banks to industry, foreign firms
By Jia Lynn Yang, Neil Irwin and David S. Hilzenrath
Washington Post Staff Writers
Thursday, December 2, 2010; 12:15 AM
(http://media3.washingtonpost.com/wp-dyn/content/photo/2010/08/26/PH2010082606283.jpg)
(c) Washington Post
LINK (http://www.washingtonpost.com/wp-dyn/content/article/2010/12/01/AR2010120106870.html)
(excerpt)
The financial crisis stretched even farther across the economy than many had realized, as new disclosures show the Federal Reserve rushed trillions of dollars in emergency aid not just to Wall Street but also to motorcycle makers, telecom firms and foreign-owned banks in 2008 and 2009.
The Fed's efforts to prop up the financial sector reached across a broad spectrum of the economy, benefiting stalwarts of American industry including General Electric and Caterpillar and household-name companies such as Verizon, Harley-Davidson and Toyota. The central bank's aid programs also supported U.S. subsidiaries of banks based in East Asia, Europe and Canada while rescuing money-market mutual funds held by millions of Americans.
The biggest users of the Fed lending programs were some of the world's largest banks, including Citigroup, Bank of America, Goldman Sachs, Swiss-based UBS and Britain's Barclays, according to more than 21,000 loan records released Wednesday under new financial regulatory legislation.
The data reveal banks turning to the Fed for help almost daily in the fall of 2008 as the central bank lowered lending standards and extended relief to all kinds of institutions it had never assisted before.
Fed officials emphasize that their actions were meant to stabilize a financial system that was on the verge of collapse in late 2008. They note that the actions worked to prevent a complete financial meltdown and that none of the special lending programs has lost money. (Some have recorded healthy profits for taxpayers.)
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One step closer to the tipping point. And no, it's not just a Bush/Obama thing. This was wrong on so many levels it's not even funny. $3.3 TRILLION?
Keep the powder dry, ladies and gents.
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(http://www.moonbattery.com/bailout-europe.jpg)
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That's even worse than I can imagine. As I said, no bailouts. I was opposed to Bush's TARP. Obama had the opportunity to stop it, but he let it run. Let'em all banks fail. It is better in the end for all.
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That's even worse than I can imagine. As I said, no bailouts. I was opposed to Bush's TARP. Obama had the opportunity to stop it, but he let it run. Let'em all banks fail. It is better in the end for all.
You said it right there. Wow, 3.3 trillion dollars?! That's if they're telling the truth.
Take a gander at this link. Your eyes will pop out. :bawl:
http://www.pagetutor.com/trillion/index.html
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All part of the George Soros/Barack Obama agenda for a one world government.
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The only thing that surprises me is they let the info out. We knew this from the get-go. :banghead:
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And yet try and get a loan for about 10K from those ****s for any reason ans see where it gets you.
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All part of the George Soros/Barack Obama agenda for a one world government.
Sickening isn't it?
I HATE that term, "one world goverment" or "global government". Soros wants one nationalization under one flag.
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Sickening isn't it?
I HATE that term, "one world goverment" or "global government". Soros wants one nationalization under one flag.
Is Soros a planner of this or a footsoldier?
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Is Soros a planner of this or a footsoldier?
Soros is the dude with all the money. He funds a lot of progressive/socialist organizations that "lend" their money to other organizations to promote his agenda for a New World Order.
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What are the standards for Treason?
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The best part of this is that they haven't done one single damn thing to regulate the derivatives market that caused most of the mess. In reality, the banks are still busy hiding things on their asset sheets and the bailout did nothing but make the Goldman-Sachs of the world even more rich and powerful.
If a company has gotten so ingrained in a system that it could threaten the entire world with it's collapse then, regardless of any competition, it should be regarded as a monopoly and broken up.
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The best part of this is that they haven't done one single damn thing to regulate the derivatives market that caused most of the mess. In reality, the banks are still busy hiding things on their asset sheets and the bailout did nothing but make the Goldman-Sachs of the world even more rich and powerful.
If a company has gotten so ingrained in a system that it could threaten the entire world with it's collapse then, regardless of any competition, it should be regarded as a monopoly and broken up.
Well, yes the entire Financial Regulations bill doesn't prevent the last crisis let alone the next one. As an accountant, a semi-decent one who has chosen a new profession in the wake of what was done during the last crisis, I'm literally nauseated by the financial markets, the governments involvement, and the playing games with FASB to keep these institutions solvent.
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Soros is the dude with all the money. He funds a lot of progressive/socialist organizations that "lend" their money to other organizations to promote his agenda for a New World Order.
Oh Soros has martinis with the Koch brothers and laughs at both sides.
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Oh Soros has martinis with the Koch brothers and laughs at both sides.
Dunno if that's an accurate statement at all. More accurate might be that the Koch brothers and Soros put their money on people who are going to further their respective bottom lines - irrespective of who, what, or where they are.
Soros is a lot more transparent about his socialism, however, which makes it relatively easy to track where he's putting his money. Koch brothers? Not so much.
But unless you've got a paparazzi-style photo with the three of them knockin' 'em back, they're not singin' off the same songsheet.
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Dunno if that's an accurate statement at all. More accurate might be that the Koch brothers and Soros put their money on people who are going to further their respective bottom lines - irrespective of who, what, or where they are.
Soros is a lot more transparent about his socialism, however, which makes it relatively easy to track where he's putting his money. Koch brothers? Not so much.
But unless you've got a paparazzi-style photo with the three of them knockin' 'em back, they're not singin' off the same songsheet.
Soros and the Koch brothers are more likely to meet each other in the course of business and come to agreements with each other than the troops they employ for their interest.
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Soros and the Koch brothers are more likely to meet each other in the course of business and come to agreements with each other than the troops they employ for their interest.
Yeah, okay Jake. Your opinion again. :whatever:
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when I heard of this yesterday, my first thought was the USA is attempting to buy influence into the EU. But this doesn't surprise me. As time goes on, The United States is less regarded as the 'World's Police' and more regarded the 'World's ATM' .
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Soros is a lot more transparent about his socialism, however, which makes it relatively easy to track where he's putting his money. Koch brothers? Not so much.
The money quote. :cheersmate:
OH! And I am sick and tired of this bail out shit. I hate that our money is used to bail out the foreign banks. LET.THEM.FAIL. I'm not paying taxes to prop up banks in other countries. I'm paying taxes for the services at home, in the U.S.A. Let the country that the bank is in worry about it. We bailed out our banks here at home, but what about those banks that didn't want the money here. They had NO choice. They HAD to take the money. I wonder why??? ::) ::) This imposter is going way over board with this socialism shit. That's exactly what it is,.....SHIT.
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The money quote. :cheersmate:
OH! And I am sick and tired of this bail out shit. I hate that our money is used to bail out the foreign banks. LET.THEM.FAIL. I'm not paying taxes to prop up banks in other countries. I'm paying taxes for the services at home, in the U.S.A. Let the country that the bank is in worry about it. We bailed out our banks here at home, but what about those banks that didn't want the money here. They had NO choice. They HAD to take the money. I wonder why??? ::) ::) This imposter is going way over board with this socialism shit. That's exactly what it is,.....SHIT.
Well we need an Andrew Jackson right now.
Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves.
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Oh Soros has martinis with the Koch brothers and laughs at both sides.
Sure they do...
:whatever: