Comment: No I am a redneck……I shoot pool.

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No I am a redneck……I shoot pool.

As far as the one institution handling the majority of the clearing business……..it’s a clearing business…..it's owned and operating by the member banks…..who cares there nothing sinister about clearing……

you do know that there’s not a banking conspiracy……… right?

As far as the press goes…….come on man……those people only know what other people tell them. They don’t really know anything, they are supposed to have checked this stuff out, but their source on this was Sen. Bernie Sanders from Vermont………that guy is a nut!

When you google GAO 16 trillion……all the stories source Sanders and the 16 trillion figure.

These are the footnotes I refered to.

Note: The total dollar amounts borrowed represent the sum of all loans and have not been adjusted to
reflect differences in terms to maturity for the loans. Total borrowing is aggregated at the parent
company level and generally includes borrowing by branches, agencies, subsidiaries, and sponsored
ABCP conduits that we could identify. Total borrowing for each parent company consolidates
amounts borrowed by acquired institutions following the completion of acquisitions. PDCF totals
include credit extensions to affiliates of some primary dealers and TSLF totals include loans under the
TSLF Options Program (TOP).
To account for differences in the terms for loans that were outstanding,we multiplied each loan amount by the number of days the loan was outstanding and divided this amount by the number of days in a year(365). Table 9 shows the top 20 borrowing institutions in terms of term adjusted total transaction amount for emergency programs and other assistance provided directly to institutions facing liquidity strains.

This tells me that the loans were re-purchase agreement backed by some collateral provided by the banks and there were many many re-purchase agreements of varying lengths and amounts with the total loan amount only being approx.. 6% of the sensationalize number……I believe that Mr. Sanders has a motive to misinform people…….don’t you think?