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Did You Know: Big Banks Are Getting A $780 Billion Subsidy Each Year?

What’s particularly interesting about that figure, $780 billion, and something no one has yet noticed, is that it’s almost the exact size of the fiscal stimulus that was passed in early 2009 to save the economy: $787 billion. Except that the bankers’ stimulus is being spent every single year again and again and again. The Republicans, and some Democrats, never cease to talk about “how much money” we “wasted” on the supposedly “failed” stimulus. But you never hear them talking about the same amount of money that’s been actually wasted on their bankster friends.

The analysis is done by Chris Whalen, who is a top banking analyst. Washingtonsblog, that looked at Whalen’s analysis and did a great job translating it into basic English, notes that Whalen has been praised by Nouriel Roubini, so he’s the real deal.

Whalen’s analysis shows that the big banks are actually getting the equivalent of at least $780 billion a year from the feds. Per Washingtonsblog, the subsidies include:

#360 billion in Federal Reserve subsidies;
$120 billion in federal deposit insurance;
$100 billion in government-guaranteed loans;
“At least $100 billion in monopolistic advantages in the secondary market for home mortgages.”
More than $100 billion in fees in the over-the-counter (OTC) derivative market.

The total? More than $780 billion a year.

http://americablog.com/2013/03/big-banks-subsidy-780bn-warre...




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The thing I am curious about

The thing I am curious about is who actually sits down and writes the check for this? Is it an automatic transfer? If thats the case some has to sit down and type the number in a computer to set teh transfer amount. Who is the one or two people that do this?

To climb the mountain, you must believe you can.

Cyril's picture

Hmm... just realizing these charts might entertain you

Hmm... just realizing these charts might entertain you, OP, relatively to your post:

http://dotxml.brinkster.net/2012/Misc/G4_Charts.pdf

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Cyril's picture

It's called "getting one's fix".

It's called "getting one's fix". The latter just has to get bigger and bigger, of course.

But that's only speaking of banks.

Governments do similarly, with taxes they steal/suck from the people. Likewise, those breed and grow. Ineluctably.

Overall, in either cases, that's called "addiction".

I have one to cigarettes and another to sweetened condensed milk. Funny, though: I managed to have neither overwhelm me so far. I'm actually reducing a bit on one of them.

"Cyril" pronounced "see real". I code stuff.

http://Laissez-Faire.Me/Liberty

"To study and not think is a waste. To think and not study is dangerous." -- Confucius

Of course they are or the

Of course they are or the banks would have collapsed by now. This is part of keeping the illusion alive that the economy is recovering and keep people in their normalcy bias.

They are doing this till they are prepared for the chaos that will ensue when it all collapse. It's part of our collective karma for allowing these politicians to wage war and murder and exploit millions in our name...

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End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

Are you saying it's our collective fault that

banks control everything and we deserve the crash that's coming?

If that's the case,

I'm sorry but it is NOT my fault...the system was set up hundreds of years before I was born.

There is ZERO anyone of us could have done other than what they allow us to do.

It's our fault collectively

It's our fault collectively for allowing it to continue. Also this isn't the first time you/we were born and being born in this situation may be reaping what you/we have sown in past lives too.

-----
End The Fat
70 pounds lost and counting! Get in shape for the revolution!

Get Prepared!

.