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Drudge & Bloomberg: Wall Street Aristocracy Got $1.2 Trillion in Fed’s Secret Loans

Submitted by complexphenom on Sun, 08/21/2011 - 18:31
in

No wonder Perry et al are trying to parrot Ron's long-term stances into talking points:

Citigroup Inc. (C) and Bank of America Corp. (BAC) were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits.

By 2008, the housing market’s collapse forced those companies to take more than six times as much, $669 billion, in emergency loans from the U.S. Federal Reserve. The loans dwarfed the $160 billion in public bailouts the top 10 got from the U.S. Treasury, yet until now the full amounts have remained secret.

...

“These are all whopping numbers,” said Robert Litan, a former Justice Department official who in the 1990s served on a commission probing the causes of the savings and loan crisis. “You’re talking about the aristocracy of American finance going down the tubes without the federal money.”

Foreign Borrowers

It wasn’t just American finance. Almost half of the Fed’s top 30 borrowers, measured by peak balances, were European firms. They included Edinburgh-based Royal Bank of Scotland Plc, which took $84.5 billion, the most of any non-U.S. lender, and Zurich-based UBS AG (UBSN), which got $77.2 billion. Germany’s Hypo Real Estate Holding AG borrowed $28.7 billion, an average of $21 million for each of its 1,366 employees.

Read the rest: http://www.bloomberg.com/news/2011-08-21/wall-street-aristoc...


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Et tu Bloomberg? Et tu?

Submitted by Mark Twain on Mon, 08/22/2011 - 14:24.

Mark Twain orationem incipit.

    "Amici, Romani, cives, praebueris aures tuas,
    Ego ad Caesarem mitterentur, non illum laudabunt.
    Malum quod homines post mortem ... "

    "Illi shovel paratus commodo assistunt. Fenerabit ultra hoc imperator."

Mark Twain oration begins.

    "Friends, Romans, countrymen, lend me your ears;
    I come to bury Caesar, not to praise him.
    The evil that men do lives after them..."

    "Those shovel ready, please assist. This emperor shall lend no more."

------- "Juilus Ceaser," Act 3, Scene 2, Shakespeare -------
Mark Anthony

    Friends, Romans, countrymen, lend me your ears;
    I come to bury Caesar, not to praise him.
    The evil that men do lives after them;
    The good is oft interred with their bones;
    So let it be with Caesar. The noble Brutus
    Hath told you Caesar was ambitious:
    If it were so, it was a grievous fault,
    And grievously hath Caesar answer'd it.
    Here, under leave of Brutus and the rest--
    For Brutus is an honourable man;
    So are they all, all honourable men--
    Come I to speak in Caesar's funeral.
    He was my friend, faithful and just to me:
    But Brutus says he was ambitious;
    And Brutus is an honourable man.
    He hath brought many captives home to Rome
    Whose ransoms did the general coffers fill:
    Did this in Caesar seem ambitious?
    When that the poor have cried, Caesar hath wept:
    Ambition should be made of sterner stuff:
    Yet Brutus says he was ambitious;
    And Brutus is an honourable man.
—

Mark Twain Posts 1835-1910-To-be-continued...
Daily Paul ☑ Ron Paul, 2012 ☑

Yeah...have you seen this movie on Trevor Lyman's site?

Submitted by pseudonym on Mon, 08/22/2011 - 11:02.

Obama talking about his corporate overlords. Link is in my signature...soooo good!

ORIGINALLY, the FED said different, so they LIED BIG-TIME!

Submitted by cepivon on Mon, 08/22/2011 - 10:56.

Originally, I have the documentation that said these banks got no more than $25 billion each. What liars the FED is. Indeed, what is more treasonous than this MASSIVE THEFT? As it turns out, the term treason means:

Webster's definition:

Treason means disloyalty or treachery to one's country or its government. Treason is any attempt to overthrow the government or impair the well-being of a state to which one owes allegiance; (the usual definition is) the crime of giving aid or comfort to the enemies of one's government.

But, how can one say the MASSIVE GRAND THEFT by the FEDERAL RESERVE and the complicit covering up of the details of it all, well, is nothing but imparing the well-being of our country to which they had said they were supposedly helping!

"Massive Pernicious Fraud"

Submitted by Mark Twain on Mon, 08/22/2011 - 17:24.

Discover the professional banking at its worst. Reseah.

—

Mark Twain Posts 1835-1910-To-be-continued...
Daily Paul ☑ Ron Paul, 2012 ☑

All enemies, foreign & domestic.

Submitted by Mark Twain on Mon, 08/22/2011 - 14:38.

Wall Street implies, but is not limited to domestic. Right or wrong weigh lightly upon Wall Street. Aristocracy shrouds all, but edicts their national borders. To whom do we pay homage?

homage: 3. : an act done or payment made in meeting the obligations of vassalage

—

Mark Twain Posts 1835-1910-To-be-continued...
Daily Paul ☑ Ron Paul, 2012 ☑

reedr3v's picture

What a neat little circle. The Fed funds

Submitted by reedr3v on Mon, 08/22/2011 - 12:31.

any BigCorp that funds the next anointed economic tool who will continue Fed/Gov/Corporate tyranny.

Those they can't bomb are bribed

Submitted by slpd6000ts on Sun, 08/21/2011 - 21:23.

The Fed HAD to do this. Those nations were still agreeing to play ball by continuing to use the dollar as the worlds reserve currency when they full well know the worlds reserve currency stands on nothing of positive worth. It should be apparent by now, especially those of us here, that our empire either bribes or extorts the world’s nations into using the dollar in reserve.

—

Never doubt that a small group of thoughtful, committed citizens can change the world. Indeed, it is the only thing that ever has. - Margaret Mead

Gross

Submitted by rambo1028 on Sun, 08/21/2011 - 21:22.

What they have/are doing is just gross. just posted this to my facebook...hopefully might open some peoples eyes....hopefully :/

Here's my favorite part:

Submitted by nuzlum on Sun, 08/21/2011 - 21:12.

"“We designed our broad-based emergency programs to both effectively stem the crisis and minimize the financial risks to the U.S. taxpayer,” said James Clouse, deputy director of the Fed’s division of monetary affairs in Washington. “Nearly all of our emergency-lending programs have been closed. We have incurred no losses and expect no losses.”"

Really? Minimize risks to the taxpayer? This is sickening.

—

ln

The losses of course

Submitted by complexphenom on Sun, 08/21/2011 - 21:26.

come with a devalued currency. The banks were able to do carry trades with the funds borrowed and bought up treasuries expanding that bubble. The game is rigged so that the banks banks don't lose, but average citizens do. Besides, the Fed still has loads of worthless assets on its books from TARP that will eventually implode once interest rates go up. And go up they will. But that's a whole other headache. It's all tied together though. Real rates can't be at the absurd lows they're currently being held at. This can only lead to mad inflation.

Thanks Fed!

—

"I never submitted the whole system of my opinions to the creed of any party of men whatever in religion, in philosophy, in politics, or in anything else where I was capable of thinking for myself." - Thomas Jefferson

Thanks for pointing it out

Submitted by bobbyw24 on Sun, 08/21/2011 - 20:55.

Thanks for pointing it out

—

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Hmm I would guess the fed made money on some operations

Submitted by sharkcity on Mon, 08/22/2011 - 16:46.

When things crashed in 08 the fed bought trillions in foreign reserves. If you remember the dollar rallied big time so the fed bought thses currencies at super distressed levels and they rebounded rather quickly. I'll guess they definitely lost on the wall street assets they bought.

How the hell did a little 1200 employee firm in Germany get 28.7 billion dollars? -this stinks to the high heavens

Hey Ben -why can't I just get a few million to scoop up all this cheap real estate?

—

Government is supposed to protect our freedom, our property, our privacy, not invade it. Ron Paul 2007

♫ Overlord, won't you buy me a Mercedes Benz? ♫

Submitted by Mark Twain on Mon, 08/22/2011 - 17:19.

Overload, won't you buy me a color TV?
Dialing for dollars is trying to reach me.

So, overlord won't you buy me....?

Fed Loans Infinity to Real Wall Street Housewives & their boyz
Submitted by Mark Twain on Fri, 07/22/2011
"Dialing for Dollars" - Central Banking becomes, Central Casting. Casting your dollars. The Hell with the mainstream. Chumming the sea. Husbanding Mr "Too Big to Fail." Hooking housewives on your debt.

Why is the Federal Reserve forking over $220 million in bailout money to the wives of two Morgan Stanley ... is the wife of John Mack, the chairman of Morgan Stanley. Susan ...

"Dial-a-Prayer!" London-InterBank-Order-Rate... Libor

London Inter-Bank Order Rate (Libor) Pound Sterling... Yen... Marks...

The Libor escalates $350 Billion variable rate loans.

"Dialing-for-Dollars:" International Edition.

What you do, should you accept this mission: You sit in a London office awaiting wishful banker phone calls... Seeking low interest rate motivated help. Fringed benefits.

—

Mark Twain Posts 1835-1910-To-be-continued...
Daily Paul ☑ Ron Paul, 2012 ☑