Date: 06 Jan 2010 21:32
Number of posts: 14
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(Reuters) - The U.S. tactic of pouring money into ailing financial firms during the 2007-09 crisis helped many foreign banks whose governments should have shared some of the burden, a report from a congressional watchdog agency said on Thursday.
The fed argues that in the time of crisis by giving $9t to these huge banks, it prevented falling of the economy, falling like in those times prior to world wars and also the fed say that by doing so it even earn from latter selling those options/debts - a question arose to me,
how it is can be that all the citizens of usa as they are due to suffer inflation, are not the peer owners of those banks or of the $9t?
They might even choose not to sell. At any rate those huge banks will never again be owned only by those few and only for latter coming to suck the government again.
Fed made $9 trillion in emergency overnight loans!!!
Top recipients of overnight loans made by the Federal Reserve under special program that ran from March 2008 through May 2009. (after obama election to the presidency in November 2008.)
The Federal Reserve made $9 trillion in overnight loans to major banks and Wall Street firms during the financial crisis, according to newly revealed data released Wednesday.
$1.5trillion to British banks (over a 1/3 of the total money)
$2.2trillion to banking giant Citigroup,
$2.1trillion to Merrill Lynch
$2trillion to Morgan Stanley.
$960billion Bear Stearns
$887billion Bank of America,
$615billion Goldman Sachs ,
$178billion JPMorgan Chase
$154billion Wells Fargo
another foreign banks
European Central Bank,
Bank of England
Bank of Japan
Swiss bank UBS, ( $165billion),
Deutsche Bank ($97billion)
Royal Bank of Scotland ($92billion).
but u know what the fed say? he says the bad distribution of wealth is due to education, well this is after he gave 9T to huge banks, and as u know it become be kind of so so much E X P E N S I V E to be trained in universities for to get connection and language needed for to be in the place to get something of those $9T, we are not we peer owners of those $9T?
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