Somehow this isn't what...

U

usta in Portland

Daily Driver
I had in mind when thinking about 'socialism' Banker's of the world unite!!!!
The Fed and its props to the world's bankers-$1.2T in loans held secret until the SCOTUS refused to hear their appeal of a Freedom Of Information suit.
Pottsy, there is even something in here for you:whistle:RBS snagged $84B
To put just that RBS number in perspective, the total GDP of Bangladesh and its 160M people is $100B

http://www.bloomberg.com/news/2011-...y-got-1-2-trillion-in-fed-s-secret-loans.html
 
If the rich are in fact getting richer and the poor are getting poorer now you know why. They have such a racket going. The wealthy are immune from the consequences of their bad decisions because the government that they purchased have convinced the rest of us that we have to save them to save our economy. It's too bad we can't go back and start over letting them all fail instead. I suspect we would be on our way out of this mess by now instead of just getting started. I guess we will never know.
 
It is the problem...

with these "...we had no choice.." decisons that are made. I always want to say " Oh, yeah? Wanna bet? There are always choices. "
If I read this thing right it looks like the Fed basically made all the creditors whole on their balance sheets, that is picked up the capital expenditure to wipe out the mark to market losses. I guess this is why they allowed the accounting to go mark to model for while.
Th whole thing, starting with Paulson just stank of con job. Now it is happening again in Europe with the EU twisting itself into a pretzel to keep from passing soveriegn debt defaults to the bond holders-meaning the banks-for fear of a banking collapse and or a run. And the worst thing is the banks fighting the capital reserve requirements, stalling them, hoping a Republican administration will cancell them. Fine, let's deregulate them and take all their collateral and let them operate as best they can.
 
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