When Big Banks Profit, You Pay: Big Time!

Most of this information is known to some extent but I felt it was important to highlight these particular examples.

*In 2008 JP Morgan Chase took out a 1.2 billion dollar loan from THE FED, at 2.1% interest. JP Morgan Chase then loaned the U.S. government 2.2 billion at an interest rate of 4.6%.

They made a 30 million dollar profit.

*In 2009 Citigroup took out a 12.1 billion dollar loan from THE FED at a 0.5% interest rate. Citigroup then loaned 12.1 billlion the US government 12.1 billion at an interest rate of 3.9%.

They made a 411 million dollar profit.

*In 2009 Bank Of America took out a 2.9 billion dollar loan from THE FED at a 0.25% interest rate. BOA then loaned the US government 23.5 billion at an inerest rate of 3.2%.

They made a 744 million dollar profit.

Taken from this video @ 2:09.

reply to post by v1rtu0s0


Exactly!

Frankly, it’s getting harder to hear these things!

End The Fed!

Repeal the Federal Reserve Act!

Break up the cartel!

Now, there is no more of a free market guy than me, but I’m 100% for government forcing the biggest banks to break up. Why? Because, currently these banks are not operating in a a free market in anyway. They have an implicit government guarantee that if they fail again, Obama, Tiny Tax-cheat Tim Geithner, and Big Ben will bail them out yet again with taxpayer money.

You see the current market is not “free” in anyway, it’s crony capitalism at best, and it needs to stop now. Kansas City Fed President, Thomas Hoenig (the only fed official consistently voting against every Fed policy),? is essentially saying the same thing.

link

reply to post by v1rtu0s0


But of Course... Privatize the Gains and Socialize the losses.

Standard Operating Procedure. Slush and Flush.

Goofy isn't it? See if you can get it, on the paper.

www.youtube.com...

reply to post by v1rtu0s0


Just keep sayin' it. ...Information needs to be heard 9 times before it's retained.

And like Wildmanimal says:

Privatize the Gains and Socialize the losses.