Ever wonder why European banks were so angry with us: Something about not making good on some toxic garbage we sold them - until 'The Bailout'?
Fed Opens Books, Revealing European Megabanks Were Biggest Beneficiaries
NEW YORK — The Federal Reserve on Wednesday reluctantly opened the books on its monumental campaign to save the financial system in the midst of the recent crisis, revealing how it distributed some $3.3 trillion in relief.
The data revealed that the Fed’s aid was scattered much more widely than previously understood. Two European megabanks — Deutsche Bank and Credit Suisse — were the largest beneficiaries of the Fed’s purchase of mortgage-backed securities (also known as “toxic derivatives” – ed.)
The Fed’s dollars also flowed to major American companies that are not financial players, including McDonald’s and Harley-Davidson, through unsecured short-term loans.
The measure, initiated in Jan. 2009 to stimulate the flow of credit and keep household borrowing costs low, led the nation’s central bank to purchase more than $1.1 trillion in mortgages packaged into the form of securities. The mortgage bonds are backed by Fannie Mae and Freddie Mac, the twin mortgage giants now owned by taxpayers.
Deutsche Bank, a German lender, has sold the Fed more than $290 billion worth of mortgage securities, Fed data through July shows. Credit Suisse, a Swiss bank, sold the Fed more than $287 billion in mortgage bonds.
The data had previously been secret. It was released Wednesday per the recently-enacted law overhauling the federal financial regulation. The Fed, ferociously backed by the Obama administration, fought lawmakers’ desire for full disclosure throughout the financial reform debate.
Source: Every news feed on the planet …
click here for mine – ed.
And another: The_American_people_were_looted_to_make_good_on_the_fraud_perpetrated_by_Wall_Street
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Whistler Blowers, Insiders
If Guantanamo and Torture are so effective, why are we NOT waterboarding our FINANCIAL TERRORIST Bankers and Politicians to get some TRUTH out of them? After all, the Al Queda Terrorists destroyed maybe $8 Billion, and murdered about 3,000 Americans. The World Trade Buildings cost the insurance companies $7,000,000,000 … and they had to pay TWICE because Shylock Silverstein got it counted as TWO separate acts. NOW Silverstein wants $1.6 TRILLION in TAXPAYER MONEY to “rebuild” !!!
“Our” BANKERS have destroyed TRILLIONS of dollars and MURDERED many 10,000s of Americans from lost medical insurance, stolen retirements, increased child abuse, suicidal despair, heart attacks…………… The government has the gall to state that $50,000,000,000 is “EXPECTED to be DEFRAUDED” from the RECOVERY funds. They should go find the FIRST “defrauder” and PUBLICLY HANG him, and any others later. ……If these “esteemed” Politicians know HOW to fix the economy ……….. then they knew how it was SUPPOSED to be running as it was LOOTED …….. The American People have lost $14,000,000,000,000+ …….. root these FINANCIAL TERRORISTS out of their cubicles and lofty offices, and send THEM to Guantanamo (Goldman Sachs ….. hint hint hint)
Forget the words “save”, “rebuild”, or “bailout”. The banks in Europe bought the mortgage-backed securities being sold by Wall Street. Once it became obvious that those mortgage-backed securities were fraudulent and over-subscribed, meaning the same mortgages were being re-sold over and over into different bundles, the European bankers threatened to make the fraud public unless the securities were redeemed. That is when the Federal Reserve started pouring out trillions of dollars, all of it considered a loan to be repaid by the American people, to buy back all that bad paper from Deutche Bank and Credit Suiss among others. In other words the US Government is impoverishing the American people to keep their “too big to jail, too big to jail” banker buddies out of prison for the fraud they committed.
bullsht. revolution.
Everyone has heard of Jubilee debt-forgiveness. Few understand the reality of it.
The Jubilee occurred -because there was no choice. The Ponzi scheme of debt runs its course and quite suddenly the tipping-point is reached where a large percentage of the populace cannot pay their debt. And at the same time -no one can sell their assets either.
So, you see, THAT is what the Jubilee is.
The fed is trying to make it look like the Jubilee of debt-forgiveness isn’t happening.
But it’s happening. Everywhere -all around us- debt is being forgiven. Assets are being confiscated, sure, but nothing is really being sold.
Why should you pay your debt, when so many others are not paying their debts? How can you pay your debt, when so many others are not paying their debt?
THERE is the reality of Jubilee.
-Some people- are jumping for joy.
Join them -won’t you? LOL
YES -you certainly will- because there eventually is no choice about it. That is the nature of a deflationary depression.
The only way the economy can recover/rebuild, is if money has some meaning that it no longer retains.
The uncontrollable forgiveness of debt is a currency -all in its own right.
Don Robertson
Limestone, Maine
http://MaineArtists.US
The article and for that matter, the majority of people, miss the point entirely. It is almost as if they are trying to protect the real DESIGNERS of the financial collapse.
Going after the bankers and mortgage fraud will keep the serfs busy for decades!!lol
Globalisation is a NWO scam that has fed on Western wealth, jobs freedom. Of course, this scam could only run for so long…it peaked in the late 70`s and they have used one crisis after another to keep it going. At the same time..Americans and Brits have not seen any real earning growth and taking compound inflation into account, we are 25-30% poorer than we were in the 70`s.
In order to pull this scam off, they relaxed lending and reformed the bancruptcy laws. Glass Steagal has been mentioned, this was just on key aspect of massive finance deregulation. By the end of the Clinton presidency, the world economy was toast, but the NWO kept things going.
Greenspan had the powers to regulate the mortgage industry, but did not do a thing. Greenspan reduced US interest rates. Couple this to the Fed printing MONOPOLY MONEY and a global Central Bank policy aligned to the Fed`s policy…there was so much money in the system, that is was very predictable what would happen, and it did…THEY (the NWO) built the biggest debt bubble of all time. In fact, we have no idea of its true size.
Then they pulled the plug and jammed the free flow of money by design…of senior British banker told me in early 2008 that thing would really kick off after the Beijing Olymipics.
Remember all that NOTIONAL wealth you thought you had, prior to the DESIGNED financial collapse?? Well, They are going to destroy most of it. They are simply reseting the system. Before the new system is started, there will be some really big wars, likely WW3…its all in the design.
You know what, THEY will get away with it, while you moan about mortgage fraud!!LOL
Think European banks copped it bad..make YOU feel better??? Suckers!!
Rise up and prosecute the real criminals…the people you never see, the ones that control every aspect of your lives…talk about sheeple.lol