Banks Did Not Actually Pay Back TARP Loans - Bloomberg FOIA Discloses Insanity

I'm not sure if you people will comprehend the gravity of this, but I'll post it here anyways and hope some of you are smart enough to figure out just how outrageous this whole thing is.

The English language does not have words for me to adequately describe the level of theft and looting.

www.economicpolicyjournal.com...

By repaying its TARP loan, for example, Goldman wriggled out from under the nettlesome compensation limits imposed by TARP, while also conveying an image of financial strength. But this “strength” was illusory. Goldman repaid the TARP loans with funds it procured days earlier from the Federal Reserve. Then, over the ensuing months, Goldman recapitalized its balance sheet by selling tens of billions of dollars of mortgage-backed securities to the Fed.

And the public never knew anything about these activities until two weeks ago, when the Fed was forced to reveal them....

A more detailed breakdown of other backdoor bailouts that dwarf TARP can be found here:
www.zerohedge.com...

The bailouts were extended to Deutsche Bank and Credit Suisse along with all the other major American players.

The level of looting is beyond comprehension.

All made possible by our friendly Federal Reserve bank.

Not a wall street guy, can you give me s simple version of what this article means?

reply to post by Whereweheaded


tarp was a distraction
it was the public propoganda face
of a much larger program hidden from public veiw
the fed reserve made everyone take tarp loans
but gave them money to pay them off to show
the pleebs "look look we paid it back"
but they paid the money back with money given to them from the fed

its about as deceietful as you can get

the fed is criminal

xploder

Originally posted by Whereweheaded
Not a wall street guy, can you give me s simple version of what this article means?

In a nutshell, the FED lends $10B to Goldman Sachs under TAARP. TAARP imposes conditions such as pay caps, which annoyed Goldman Sachs because they are used to getting million $ bonuses.
So, Goldman secretly sells Mortgage Backed Securities (which will, if they already haven't, turn out to be close to worthless) back to the FED to the tune of $100B, and used this to "repay" the FED.
So, basically, you lend me $10, I convince you to buy $100 worth of dog poop and use that money to pay you back!
Make sense? Of course it doesn't, that is why it took a FOIA request to find out.
The whole thing also has nefarious effects on those investors who played the game as if the rules were being followed... I know, suckers right.
The only positive thing I can see is that you now have a glance at who owns the FED... just follow the money trail to the international banking cartel.

the Billmeister

The Bush administration also promised that TARP was a "one time thing" and that as SOON as the banks repaid the money they borrowed the money was to go IMMEDIATELY back to the Treasury, it wasn't authorized for any other programs at all.

Not a single dime has seen its way back to Treasury.

Ok, thanks for the enlightenment. All this does is solidify my thoughts on the USG being murderers, crooks, and thieves.

I think a good way to put this is that the Fed colluded with the major banks to buy up all the junk mortgages, which it paid absolutely outrages prices for.

Those securities should have been considered junk, but the Fed paid top dollar for them all.

On top of this blatant theft, the Fed did it in such a way as to con all the investors who had gambled that the banks would go bankrupt out of their money.

So the guys who rightly shorted the stocks of Goldman by borrowing stocks from a brokerage house got screwed in the pooper by the Fed saving Goldman's behind with tax payer dollars, because they had to pay back the brokerage house more money than the stock was initially borrowed at.

Once again wihtout fail time and time and untiemly again..we seek what crooks and thieves the fed and big bankers are. the same ones running around with verbal dhiarrea...capitalsim is the best! stop using cash use credit cards!! thier gunna run it all into the ground n grave wait n see...

Originally posted by babybunnies
The Bush administration also promised that TARP was a "one time thing" and that as SOON as the banks repaid the money they borrowed the money was to go IMMEDIATELY back to the Treasury, it wasn't authorized for any other programs at all.

Not a single dime has seen its way back to Treasury.

I honestly believe that Bush, Obama and the other politicans had no clue this was going to happen when they passed TARP. It was intended to be kept secret and that is why the Fed did it. Generally, this is the problem in DC. Our representatives are pikers when it comes to dealing with the international banksters. The Fed is our unregulated economic overlord.

Originally posted by sara123123

Originally posted by babybunnies
The Bush administration also promised that TARP was a "one time thing" and that as SOON as the banks repaid the money they borrowed the money was to go IMMEDIATELY back to the Treasury, it wasn't authorized for any other programs at all.

Not a single dime has seen its way back to Treasury.

I honestly believe that Bush, Obama and the other politicans had no clue this was going to happen when they passed TARP. It was intended to be kept secret and that is why the Fed did it. Generally, this is the problem in DC. Our representatives are pikers when it comes to dealing with the international banksters. The Fed is our unregulated economic overlord.

Bush and Obama do what they are told.

reply to post by mnemeth1

This literally made me sick to my stomach. Because we don't unite and stand up together, the banking cartels operate above the law. It doesn't matter what the banks do, because they can do whatever they want as long as they're clever enough to cover it up. And the guys at the top are brilliant, mastermind manipulators.

The only thing we can do is to say NO, pay cash, quit taking out loans, create alternative cash sources, and live under our means. That would hurt them.

Every one should file a Chapter 7 bankruptcy. Void all unsecured debts. We would all start out with no liabilities, and then we could refuse to access credit through the banks, but through asset based lenders that we would create. We could do this easily, if we chose to. The banks would wither away and die. We are the underlying problem. We need to be the solution.

I just timed out and lost a long reply so I'll be short.

This is INSANITY.

We control NOTHING, the FED and the BANKS shuffle money back and forth and actually create money based on the debt they owe each other. How sweet a deal is that?
Our money is our future and we don't even control them a tiny bit

How can the "greatest nation on Earth" be in debt? For over 170 years?
To Whom and for What?

We have been in debt to European banking interests for nearly 2 centuries.
It's time to end it.
No one who is in debt can ever call themselves free.

Thanks Nem, sadly, this is one article that will stick out for years to come.
It shows just how bold they are to even think they could get away with this.
IF they don't care if we find out is what really scares me.
It looks more and more like governments worldwide are getting ready to fight their populations to stay in power. That's a dangerous game for them to start.

S$F

This is all well and good (sarcasm).
Not a slam on you, mnemeth1, but day after day we see news like this and we sit.
As if we need more proof that we mean nothing to these people.
I get it, I've gotten it.
We all got it.

Now what?

reply to post by Oaktree


As I've stated several times... VOTE INDEPENDENT!

The whole party system insures that the status quo is maintained. We end up with de facto leaders who were only elected by their respective parties... ever find it strange that you do not vote for your president?
Their loyalty lies solely with their party making their number one priority their party's funding... which boils down to situations like this, they are in the pockets of whomever gives them campaign "donations".
Get as far away from the party candidates as you can... find a half decent independent candidate, close you eyes and make the jump!

the Billmeister

Didn't Jesse Ventura's episode on the banking bailouts demonstrate that almost every head of the Federal Reserve for the past couple of decades has had inside ties with Goldman Sachs? Previous CEOs, Comptrollers, VPs etc.

Well as if we needed more proof of the sham thats being pulled off.
Beyond TAARP...
Anyone who thinks its 'OK' to give taxmoney to overseas banks...
Oh wait, it doesnt matter what you think.
Because whether you like it or not, CONgress spreads our wealth around.

We dont have a voice.
We dont have control.

We, the people, need to set things straight.

But, we the people, won't stop chasing one thing that controls us.
MONEY.

If a slice of the population would actually stop feeding the machine...
Maybe CONgress will get the point.

But I doubt it.

reply to post by Billmeister


Well, I agree 100% with you on voting independent. I have for the most part, voted for every qualified independent that came my way. I have even voted for some independents in which I didn't necessarily agree with many of their positions, simply because they were independent, and I knew what I would be getting with a vote for the ReDemacrans.

I, unfortunately, believe that some action beyond my vote needs to occur.
I am still unsure as to that best action.

reply to post by mnemeth1


So in essence, the American people bought all of these companies through a government shell game and inflation based robbery of future income. This is absolutely pathetic of our leaders. Why not tell us at the very least they would have to inflate the money supply to such an extent that we will pay it back through inflation of our currency and standards of living. This is why the recession will last many more years. They are playing monopoly with our lives.

I say we gut the fed and crash the market so all the players money isn't worth spit. force the government to go back to the gold and silver standard, then execute all conspirators

Originally posted by Oaktree
reply to post by Billmeister

 

Well, I agree 100% with you on voting independent. I have for the most part, voted for every qualified independent that came my way. I have even voted for some independents in which I didn't necessarily agree with many of their positions, simply because they were independent, and I knew what I would be getting with a vote for the ReDemacrans.

I, unfortunately, believe that some action beyond my vote needs to occur.
I am still unsure as to that best action.

I also agree with you... something else needs to be done, but what?
The whole "system" is set up to protect the status quo, so working within the "system" does not seem to be very effective.
One thing that I find very disturbing is watching police action during social protests, they are fighting the people who are fighting FOR them. So I think that educating law enforcement into understanding that they are siding with the "enemy" is a start, albeit a very modest one.

Cheers,
the Billmeister