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Forum Post: $7.7 trillion: Read it and weep...

Posted 12 years ago on Nov. 28, 2011, 7:54 a.m. EST by Vooter (441)
This content is user submitted and not an official statement

http://www.bloomberg.com/news/2011-11-28/secret-fed-loans-undisclosed-to-congress-gave-banks-13-billion-in-income.html

6 Comments

6 Comments


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[-] 3 points by Febs (824) from Plymouth Meeting, PA 12 years ago

This is why we need not a window peek audit but a full yearly accounting by the GAO. Then once all their dealings are revealed we can disband that cabal of bankers that uses their monopoly control of the money supply to make themselves rich off the savings of the American people.

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[-] 2 points by MonetizingDiscontent (1257) 12 years ago

Why are bailouts by taxpayers UNDISCLOSED? Is it a matter of national security or something?

Why is the True debt always... Undisclosed?

And they always 'find more debt' ...Like MF Global, the most recent example. First it was 600 Million missing. Then 1.2 Billion. Now Forbes reports it to actually be at 1.7 Billion in client money gone missing. http://www.forbes.com/sites/robertlenzner/2011/11/22/1-7-billion-customers-money-missing-from-mf-global/

There will always be More Debt being 'discovered'

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[-] 2 points by dingy58 (172) 12 years ago

The banks are the root of corruption but the Congress person individually is responsible for their corrupt behavior. They don't want to go to jail, that is why they are pushing this Senate Bill through today. Their fear and hatred of us grows by the day. Not just against OWS but all of us. They loved seeing the herd rush into WalMart. I'm ashamed of what some us have become.

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[-] 1 points by demcapitalist (977) 12 years ago

I think it's letting wall street into our banks that did us in. We had them out from 1933 till 1999. The fed was started in 1913 the crash was 1929 Glass/Steagall was enacted in 1933 and repealed in 1999. Wall street was in our banking system for 15 years and cause a devastating crash in '29 and then 8 years from 1999 till 2007 and caused a devastating crash. How easy it it to understand ? get them out !!! let them gamble but not with our money

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[-] 1 points by foxla (39) from Queens, NY 12 years ago

The question is will that new Financial Review Board go far enough, the agency that came out of the Dodd-Frank Bill. I understand there is a push to water that down even further. Who is to say if American citizens will ever get back any of the monies Wall Street just robbed the public of, and I understand the HAMP program never really got justice, as the banks were supposed to give back via loan modifications and such. At one time I researched those HAMP numbers and they did not look so good at all around a year or so back.

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[-] 0 points by stephenadler (118) 12 years ago

Thanks for the post. Banks have just gotten way to big. They have to be broken up so that we don't have these mastodons which when they screw up, tank our economy and bring the country down with them.

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