Jan 17
YouTube Added: 16.01.2012
Tags: Bailout, Banking, Barack Obama, Bill of Rights, Constitution, Debt, Economy, Fed, Federal Reserve, Global News, Government, Obama administration, Politics, Ron Paul, Society, Students, U.S.
Jan 12
YouTube Added: 10.01.2012
Tags: Bailout, Banking, Bill of Rights, Constitution, Debt, Dollar, Economy, Fed, Federal Reserve, Freedom, Global News, Government, Keynesianism, Middle Class, Military, Politics, Quantitative Easing, Ron Paul, U.S.
Dec 23
Related info:
- Bloomberg News Eloquent Point-By-Point Response To Bernanke Criticism Of U.S. Bank-Rescue Coverage
- The Federal Reserve And The $16 Trillion Bankster Bailout
- Fed’s Once-Secret Data Released to Public (Bloomberg, Dec. 23, 2011):
Bloomberg News today released spreadsheets showing daily borrowing totals for 407 banks and companies that tapped Federal Reserve emergency programs during the 2007 to 2009 financial crisis. It’s the first time such data have been publicly available in this form.
To download a zip file of the spreadsheets, go to http://bit.ly/Bloomberg-Fed-Data. For an explanation of the files, see the one labeled “1a Fed Data Roadmap.”
The day-by-day, bank-by-bank numbers, culled from about 50,000 transactions the U.S. central bank made through seven facilities, formed the basis of a series of Bloomberg News articles this year about the largest financial bailout in history.
“Scholars can now examine the data and continue the analysis of the Fed’s crisis management,” said Allan H. Meltzer, a professor of political economy at Carnegie Mellon University in Pittsburgh and the author of three books on the history of the U.S. central bank.
Tags: Bailout, Banking, Ben Bernanke, Bloomberg, Economy, Fed, Federal Reserve, Freedom of Information Act, GAO, Global News, Government, Politics, U.S.
Dec 21
Flashback:
- Joe Biden: We Have to Go Spend Money to Keep From Going Bankrupt
- Joe Biden on Shalom TV: ‘I am a ZIONIST’
- Joe Biden’s mad solution for the euro debt crisis: a huge Obama-style bailout (Telegraph, Dec.20, 2011):
Joe Biden has caused a bit of a stir this week with his bizarre suggestion that “the Taliban per se is not our enemy”, just a decade on from the 9/11 attacks, carried out by al-Qaeda, and aided and abetted in Afghanistan by none other than the Taliban. The comments formed part of a wider interview on foreign policy given by Biden to Leslie Gelb of Newsweek. The stupidity of the vice president’s remarks on the war in Afghanistan were matched only by his reckless, almost surreal advice on the European financial crisis, which is so out of touch with reality that I doubt even the delusional Herman Van Rompuy would agree with him. Joe Biden’s solution for the EU’s massive debt crisis? A mammoth Obama-style bailout across the Atlantic, but this time in euros not dollars:
NEWSWEEK: I know you feel strongly and correctly that economics is really at the heart of not only our country’s future, but our power in the world. You have a bank crisis in Europe right now. And Goldman Sachs just said that at a minimum this means a 1 percent drop in our gross domestic product. And it’s likely to be much worse, as you know, because the Europeans can’t seem to conjure up the courage to tackle their problem seriously. What are we planning to do about it? Continue reading »
Tags: Bailout, Barack Obama, Economy, EU, Europe, Global News, Government, Joe Biden, Obama administration, Politics, U.S.
Dec 20
- Europe Is Now Officially Bazooko’s Circus – Italy To Provide €23.5 Billion In IMF Cash To Bailout Italy (ZeroHedge, Dec. 19, 2011):
The EU was already embarrassed into releasing a press release that it could procure €150 billion in Eurozone contributions to the IMF rescue, now that the UK is out of the picture and the December 9 Eurosummit agreed upon total of €200 billion including non-Eurozone contributors (mostly the UK with €30.9 billion) has been “adjusted.” Now we find that the rabbit hole goes even deeper into Bazooko’s Circus because according to a just released update, of the remaining meager €150 billion in funding, Germany will be responsible for €41.5 bn, France at €31.4 billion, and Italy will need to provide €23.5 billion and Spain another €15 billion. To, you know, bailout Italy and Spain. #Ref!
As a reminder: Bazooko’s Circus
Tags: Bailout, Economy, EU, Europe, Global News, Government, IMF, Italy, Politics
Dec 17
- THE HOTTEST QUESTION IN EUROPE: Did The ECB Just Pull Off A Back-Door Bailout That Will End The Crisis? (Business Insider, Dec. 16, 2011):
Yields on short-term peripheral sovereign bonds are plunging, despite the fact that EU leaders appeared to make little progress at their highly-anticipated summit last week.
Pundits continue to expound on the flaws of the eurozone but markets are telling a different tale.
That’s because the European Central Bank may have already introduced roundabout measures that will solve some of Europe’s big problems—it’s making investing in peripheral sovereign debt a huge profit opportunity for banks.
Theoretically, financial institutions will be able coin money by borrowing ultra-cheap from the ECB and buying higher yielding sovereign debt.
Essentially, it appears the ECB might allow European banks to pledge everything but the kitchen sink in return for funds. First, the new policy allows European banks to hold far fewer assets as collateral in exchange for funding from the ECB—freeing up liquidity to the tune of €103 billion ($134 billion). More importantly, relaxing collateral restrictions could also allow European banks to use even somewhat risky sovereign assets as collateral for bond purchases.
Finally, the extension of loan maturities to a full three years means that banks would be able to borrow money for the long-term, presumably long enough for EU leaders to make more progress towards solving the flaws of the euro monetary union.
Tags: Bailout, Banking, Bonds, Debt, ECB, Economy, EU, Europe, Global News, Government, Politics
Dec 09
- Radical eurozone shakeup could see Brussels get austerity powers (Guardian, Dec. 6, 2011):
Confidential paper from council president Herman Van Rompuy proposes empowering the commission to impose austerity
The European commission could be empowered to impose austerity measures on eurozone countries that are being bailed out, usurping the functions of government in countries such as Greece, Ireland, or Portugal.
Bailed-out countries could also be stripped of their voting rights in the European Union, under radical proposals that have been circulating at the highest level in Brussels before this week’s crucial EU summit on the sovereign debt crisis.
A confidential paper for EU leaders by the EU council president, Herman Van Rompuy, who will chair the summit on Thursday and Friday, said eurobonds or the pooling of eurozone debt would be a powerful tool in resolving the crisis, despite fierce German resistance to the idea.
Tags: Bailout, Dictatorship, Economy, EU, Europe, Fascism, Global News, Government, Herman Van Rompuy, New World Order, Politics
Dec 05
See also:
- The Federal Reserve And The $16 Trillion Bankster Bailout
- Fed may give loans to IMF to help euro zone: paper (Reuters, Dec. 4, 2011):
The Federal Reserve, along with the 17 euro zone national central banks, may help provide the International Monetary Fund with funds that could be used to aid debt-ridden states, a German newspaper said.
Die Welt cited sources close to the negotiations as saying the euro zone central banks could pay at least 100 billion euros ($134.2 billion) into a special fund that could be used for programs for nations struggling to control their debts.
“Also other central banks, for example the U.S. Federal Reserve, are apparently prepared to finance a part of the costs,” the paper said in an advance copy of an article to appear on Monday.
Tags: Bailout, Central Bank, Debt, Economy, EU, Europe, Fed, Global News, Government, IMF, Politics, U.S.
Dec 04
See also:
- Have You Heard About The 16 Trillion Dollar Bailout The Federal Reserve Handed To The Too Big To Fail Banks? (The Econonomic collapse, Dec. 2, 2011):
What you are about to read should absolutely astound you. During the last financial crisis, the Federal Reserve secretly conducted the biggest bailout in the history of the world, and the Fed fought in court for several years to keep it a secret. Do you remember the TARP bailout? The American people were absolutely outraged that the federal government spent 700 billion dollars bailing out the “too big to fail” banks. Well, that bailout was pocket change compared to what the Federal Reserve did. As you will see documented below, the Federal Reserve actually handed more than 16 trillion dollars in nearly interest-free money to the “too big to fail” banks between 2007 and 2010. So have you heard about this on the nightly news? Probably not. Lately Bloomberg has been reporting on some of this, but even they are not giving people the whole picture. The American people need to be told about this 16 trillion dollar bailout, because it is a perfect example of why the Federal Reserve needs to be shut down. The Federal Reserve has been actively picking “winners” and “losers” in the financial system, and it turns out that the “friends” of the Fed always get bailed out and always end up among the “winners”. This is not how a free market system is supposed to work.
According to the limited GAO audit of the Federal Reserve that was mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, the grand total of all the secret bailouts conducted by the Federal Reserve during the last financial crisis comes to a whopping $16.1 trillion.
Tags: Bailout, Bank of America, Banking, Barclays, Bear Stearns, BNP Paribas, Citigroup, Credit Suisse, Deutsche Bank, Dexia, Dollar, Dresdner Bank, Economy, Fed, Federal Reserve, GAO, Global News, Goldman Sachs, Government, JPMorgan, Lehman Brothers, Merrill Lynch, Morgan Stanley, Politics, RBS, Societe Generale, U.S., UBS, Wachovia, Wall Street, Wells Fargo & Co.
Dec 02
- Shocking Revelations About Wall Street’s “Secret Government” (Alternet, November 30, 2011):
Top officials willfully concealed the true extent of the 2008-’09 bailouts from Congress and the public.
We now have concrete evidence that Wall Street and Washington are running a secret government far removed from the democratic process. Through a freedom of information request by Bloomberg News, the public now has access to over 29,000 pages of Fed documents and 21,000 additional Fed transactions that were deliberately hidden, and for good reason. (See here and here.)
These documents show how top government officials willfully concealed from Congress and the public the true extent of the 2008-’09 bailouts that enriched the few and enhanced the interests of giant Wall Streets firms. Here’s what we now know:
- The secret Wall Street bailouts totaled $7.77 trillion, 10 times more than the $700 billion Troubled Asset Relief Program (TARP) passed by Congress in 2008.
- Knowledge of the secret bailout funds was not shared with Congress even while it was drafting and debating legislation to break up the big banks.
- The secret funding, provided at below-market rates, gave Wall Street banks an additional $13 billion in profits. (That’s enough money to hire more than 325,000 entry level teachers.)
- The secret loans financed bank mergers so that the largest banks could grow even larger. The money also allowed banks to step up their lobbying efforts.
- While Henry Paulson (Bush’s Secretary of the Treasury) was informing Congress and the public that only minor reforms were needed to protect Fannie and Freddie from collapse, he met secretly with leading Wall Street hedge fund managers — among them his former colleagues at Goldman Sachs — to alert them that he was about to nationalize the giant mortgage companies – a move that would eradicate nearly all the stock value of the companies. This information was enormously valuable because it allowed these hedge funds to short Fannie and Freddie and thereby make a fortune.
- While Timothy Geithner was head of the NY Federal Reserve, he argued against legislative efforts by Senator Ted Kaufman, D-Delaware, to limit the size of banks because the issue was “too complex for Congress and that people who know the markets should handle these decisions,” Kaufman recalls. Meanwhile, Geithner was fully aware of the enormous secret loans while Senator Kaufman was kept in the dark. Barney Frank, who was authoring key bank reform legislation was also not informed of the secret loans. No one in Congress was told.
So what does this all mean? Continue reading »
Tags: Bailout, Banking, Economy, Fed, Federal Reserve, Global News, Government, Politics, U.S., Wall Street
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