The Federal Reserve's 'breathtaking' $7.7 trillion bank bailout

Discussion in 'Economics & Trade' started by Lil Mike, Jan 18, 2019.

  1. Lil Mike

    Lil Mike Well-Known Member

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    Holy Crap!

    The Federal Reserve's 'breathtaking' $7.7 trillion bank bailout

    A new report by Bloomberg Markets Magazine details trillions of dollars in secret federal loans made to the big banks during the 2008 financial crisis, a process that helped them rake in billions of dollars in undisclosed profits. Here, some key numbers that illuminate the Federal Reserve's "breathtaking" $7.7 trillion bank bailout:

    $7.7 trillion
    Amount in undisclosed loans the Federal Reserve made to struggling financial institutions, according to the new Bloomberg report. That "dwarf the Treasury Department's better-known $700 billion Troubled Asset Relief Program [TARP]," say Bob Ivry, Bradley Keoun, and Phil Kuntz at Bloomberg.

    So while we were freaking out about the $700 billion TARP bailout, the Federal Reserve was secretly funneling trillions to the big banks.
     
    Last edited: Jan 18, 2019
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  2. Reiver

    Reiver Well-Known Member

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    Perhaps right wingers shouldn't have been supporting market fundamentalism and then blubbering "Fox said it would be different"?
     
  3. wgabrie

    wgabrie Well-Known Member Donor

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    Wow, there's secret money being passed out behind the scenes in sums that are ridiculously large. It makes me feel that our entire Federal budget and debt are all just a lie.
     
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  4. james M

    james M Well-Known Member

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    I see no bankers worth $1 trillion let lone $8 trillion??? Bezos is still richest at a mere $100 billion. where did the $8 trillion go?????
     

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