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the true cost of the bailouts
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Turns out we have been placed on the hook for much more than 700 billion. We are now on the hook for almost 14 trillion. The feds don't want us to know how much they have loaned of our money to banks and financial institutions around the world. Two appellate courts have ordered the Fed to release the documents but they still refuse. Their excuse is that the banks will be harmed if it is revealed who got what.
Turns out we have been placed on the hook for much more than 700 billion. We are now on the hook for almost 14 trillion. The feds don't want us to know how much they have loaned of our money to banks and financial institutions around the world. Two appellate courts have ordered the Fed to release the documents but they still refuse. Their excuse is that the banks will be harmed if it is revealed who got what.
Originally posted by pacific_waters
Two appellate courts have ordered the Fed to release the documents but they still refuse. Their excuse is that the banks will be harmed if it is revealed who got what.
What do they have to fear if it was all done in the up and up? Could the fear be not who got what, but who told them to give it to the ones who got it, and their reasons behind giving it to them? I think it`s more of a coverup for someone, and it should be made public, and the law SHOULD go after the Fed, and make them hand over the documents. This garbage of them being above the law needs to stop, and stop now.
There was an AP article dated 7/20/09, entitled "Watchdog sees huge U.S. bill for
banks bailout - Financial bailout's cost to U.S. could total almost $24 trillion," about a quarterly report to Congress from special inspector
general Neil Barofsky. The article states:
Under the worst of circumstances, the report said, the government's maximum exposure could total nearly $24 trillion, or $80,000 for every American.
Nice thread.
Looks like I have to update my avatar unfortunately.
Looks like I have to update my avatar unfortunately.
reply to post by Mary Rose
I will have to agree with Mary Rose.
The numbers I came across awhile back were $23.7 Trillion. Not the 700 billion or even the 14 trillion.
Now, these are just the banks we are speaking about.
What has been given to the insurance industry that backs a lot of the derivative debacle.
We will never know what leash has been placed around our necks.
If it was ever released, the players would be in their bunkers within seconds and the clampdown would begin.
Oh well, I no longer consent to be governed by these thieves.
The government no longer exists in my eyes, they are now a puppet regime, their power no longer exists, only in their fantasy land.
I will have to agree with Mary Rose.
The numbers I came across awhile back were $23.7 Trillion. Not the 700 billion or even the 14 trillion.
Now, these are just the banks we are speaking about.
What has been given to the insurance industry that backs a lot of the derivative debacle.
We will never know what leash has been placed around our necks.
If it was ever released, the players would be in their bunkers within seconds and the clampdown would begin.
Oh well, I no longer consent to be governed by these thieves.
The government no longer exists in my eyes, they are now a puppet regime, their power no longer exists, only in their fantasy land.
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Federal law trumps state and local law every time
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