Fed Loans Out 2 Trillion Dollars

Tuesday, November 18, 2008

By The Whistler on November 18, 2008 at 09:56 am

3 Comments

The public has no right to know!

Nov. 10 (Bloomberg)—The Federal Reserve is refusing to identify the recipients of almost $2 trillion of emergency loans from American taxpayers or the troubled assets the central bank is accepting as collateral.

Fed Chairman Ben S. Bernanke and Treasury Secretary Henry Paulson said in September they would comply with congressional demands for transparency in a $700 billion bailout of the banking system. Two months later, as the Fed lends far more than that in separate rescue programs that didn’t require approval by Congress, Americans have no idea where their money is going or what securities the banks are pledging in return.

I guess if they had nothing to hide they wouldn’t have to keep us in the dark.

Does this tick you off? Click here to email your elected representatives right here on Say Anything, or comment below.

Comments

hey, where’s my bailout? I could use some money too….

So what happens when the federal government declares bankruptcy?

rjfargo on November 18, 2008 at 11:57 am

WOOF
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Now you know

Financial Crisis Balance Sheet
Government Entity Sum in Billions of Dollars
Federal Reserve

(TAF) Term Auction Facility 900

Discount Window Lending
Commercial Banks 99.2
Investment Banks 56.7
Loans to buy ABCP 76.5
AIG 112.5
Bear Stearns 29.5
(TSLF) Term Securities Lending Facility 225
Swap Lines 613
(MMIFF) Money Market Investor Funding Facility 540
Commercial Paper Funding Facility 257

(TARP) Treasury Asset Relief Program 700

Other:
Automakers 25
(FHA) Federal Housing Administration 300
Fannie Mae/Freddie Mac 350

Total 4284.5
Note: Figures as of Nov. 13, 2008

http://www.cnbc.com/id/27719011

WOOF on November 18, 2008 at 02:46 pm

The trillions the FED is loaning.. I hope is going out to some of those that have been ripped off by wallstreet & hedge fund pirates…. though a little known operation called Naked Shorting of stock.
READ ABOUT NAKED SHORTING OF STOCK….Not just “Shorting ” ... but naked shorting of stock shares.
shorting is legitimate…naked shorting is NOT… and for the day trader to 401K’s wall street & the in wall streets pocket too the hedge fund operations have been stealing from every American!!!! THE DTCC SUX & so does the FED, oh and don’t forget the SEC ... watching out for us ... my A%^^$.

Jay

Jay G. Solinger on December 2, 2008 at 08:26 pm

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