For those of you who are always claiming that the banks paid back TARP.

jmar
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jmar
Edited Date/Time 1/20/2012 11:45pm
We Didn't Know About the Fed's $7.7 Trillion Loans To Wall Street

http://news.yahoo.com/didnt-know-feds-7-7-trillion-loans-wall-232402036…
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TripleFive 11/29/2011 6:35pm
11/29/2011 6:35pm
You know what's crazy to me? To accomplish this all they did is changed numbers in a computer. We're playing with funny money. And when I say "we're" I mean the Fed; a non-private, non-public, secret organization that has ALWAYS represented the interests of the big banks.
jmar
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jmar 11/29/2011 6:41pm
11/29/2011 6:41pm
TripleFive wrote:
You know what's crazy to me? To accomplish this all they did is changed numbers in a computer. We're playing with funny money. And when I...
You know what's crazy to me? To accomplish this all they did is changed numbers in a computer. We're playing with funny money. And when I say "we're" I mean the Fed; a non-private, non-public, secret organization that has ALWAYS represented the interests of the big banks.
Yes, that's true. True in the manner that they could pay back the TARP loans with funny numbers.

With that said, they are making record profits with their funny numbers and tucking it away for when the shit hits the fan.
jndmx
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jndmx 11/29/2011 7:01pm
11/29/2011 7:01pm
I read that today and wanted to punch my computer screen.
mxknowitall
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mxknowitall 11/29/2011 7:34pm
11/29/2011 7:34pm
"The Fed has been lending money to banks through its so- called discount window since just after its founding in 1913."

"The Fed has said that all loans were backed by appropriate collateral. That the central bank didn’t lose money should “lead to praise of the Fed, that they took this extraordinary step and they got it right,” says Phillip Swagel, a former assistant Treasury secretary under Henry M. Paulson and now a professor of international economic policy at the University of Maryland. "

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FreshTopEnd
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FreshTopEnd 11/29/2011 7:38pm
11/29/2011 7:38pm
That's not Tarp, much of the sum discussed as total exposure was guarantees, and where does it say they didn't pay actual loans back?

What is true is that financial institutions were able to take advantage of the situation and profit from the spread on what they borrowed on the open market window and how they employed those funds.

Here's some more on it.

http://www.theatlantic.com/business/archive/2011/11/bloomberg-report-exposes-the-federal-reserve-doing-its-job/249129/

And if you really want to get pissed.

http://www.theatlantic.com/business/archive/2011/11/bloomberg-exposes-secretary-paulson-really-seriously-not-doing-his-job/249227/
jmar
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jmar 11/29/2011 7:44pm
11/29/2011 7:44pm
FreshTopEnd wrote:
That's not Tarp, much of the sum discussed as total exposure was guarantees, and where does it say they didn't pay actual loans back? What is...
That's not Tarp, much of the sum discussed as total exposure was guarantees, and where does it say they didn't pay actual loans back?

What is true is that financial institutions were able to take advantage of the situation and profit from the spread on what they borrowed on the open market window and how they employed those funds.

Here's some more on it.

http://www.theatlantic.com/business/archive/2011/11/bloomberg-report-exposes-the-federal-reserve-doing-its-job/249129/

And if you really want to get pissed.

http://www.theatlantic.com/business/archive/2011/11/bloomberg-exposes-secretary-paulson-really-seriously-not-doing-his-job/249227/
I fully understand that it isn't TARP. But TARP is a tiny part of what we have given the wall street banks.
eddie
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eddie 11/29/2011 8:50pm
11/29/2011 8:50pm
is ron paul still a kook ? just checkin ...
borg
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borg 11/29/2011 9:00pm
11/29/2011 9:00pm
eddie wrote:
is ron paul still a kook ? just checkin ...
Yup!
jmar
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jmar 11/29/2011 9:30pm
11/29/2011 9:30pm
Honest question here borg.

Could the large banks stand on their own two feet today with out the unlimited funding from the fed?
Moto East Mag
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Moto East Mag 11/29/2011 10:00pm
11/29/2011 10:00pm
jmar wrote:
Honest question here borg.

Could the large banks stand on their own two feet today with out the unlimited funding from the fed?
The Fed pretty much IS the banks. Check out their structure. Private banks are a big part of it.
eddie
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eddie 11/29/2011 10:50pm
11/29/2011 10:50pm
FreshTopEnd wrote:
That's not Tarp, much of the sum discussed as total exposure was guarantees, and where does it say they didn't pay actual loans back? What is...
That's not Tarp, much of the sum discussed as total exposure was guarantees, and where does it say they didn't pay actual loans back?

What is true is that financial institutions were able to take advantage of the situation and profit from the spread on what they borrowed on the open market window and how they employed those funds.

Here's some more on it.

http://www.theatlantic.com/business/archive/2011/11/bloomberg-report-exposes-the-federal-reserve-doing-its-job/249129/

And if you really want to get pissed.

http://www.theatlantic.com/business/archive/2011/11/bloomberg-exposes-secretary-paulson-really-seriously-not-doing-his-job/249227/
i wish i could create 7.7 trillion dollars out of thin air (that is backed by the taxpayers of the usa) and then lend it to my own business at zero percent interest . that would be a sweet gig . if i make a profit with the money , i can pay back the loan and the taxpayer only has to pay the small percentage of devaluation of the created from nothing money . if i fuck up , the taxpayers are on the hook for the whole thing . that about right ? where do i sign up ?


btw , was it 7.7 or was it 16 ? ..... either way, thats only the amount that they didnt manage to keep hidden . the real number is probably double that .

http://auditthefedphonebomb.com/bailouts/federal-reserve-audit-exposes-…
mtnr
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mtnr 11/30/2011 6:25pm
11/30/2011 6:25pm
Ron Paul will get my vote again. Just as much to mix it up as for anything in particular. We are broke and getting our 900 bases out of 130 countries or whatever the exact numbers are is a great start and that is something he would try to do. As well shaking up the the current wall street / federal reserve realities would be nice to see.

I would like our country to try a version of canadian / french / australian / english / swedish etc... healthcare strategy, but with Paul that is off the table. Even so I still will vote for him again in that 14 trilion in debt is brutal and and embarrassment that should not be passed along to younger people. It is time for some painful govt reduction. That would be his aim and although I don't see it happening while he is in office it be nice to see a genuine person give it a try at the executive level. Just watched an impromptu interview with his wife on you tube and she seems very genuine as well. http://www.youtube.com/watch?v=WKm1JMQS3fc

These two would be good for the US in the long run.

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