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Fed made $9 trillion in emergency overnight loans

Discussion in 'Political Discussion' started by Holy Diver, Dec 1, 2010.

  1. Holy Diver

    Holy Diver Rookie

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    Federal Reserve made $9 trillion in emergency loans - Dec. 1, 2010

    The Federal Reserve made $9 trillion in overnight loans to major banks and Wall Street firms during the financial crisis, according to newly revealed data released Wednesday.


    The amount of cash being pumped out to the financial giants was not previously disclosed. All the loans were backed by collateral and all were paid back with a very low interest rate to the Fed -- an annual rate of between 0.5% to 3.5%.

    Still, the total amount was a surprise, even to some who had followed the Fed's rescue efforts closely.


    "The $700 billion Wall Street bailout turned out to be pocket change compared to trillions and trillions of dollars in near zero interest loans and other financial arrangements that the Federal Reserve doled out to every major financial institution," -Sen. Bernie Sanders




    wait...what????????





    If you can't see your money being robbed from you, well....then it just isnt happening, is it?



    can't wait for the right wing to suck the collective private parts of capitalism. Seriously???? How is this system to be trusted if it keeps having to be bailed out?



    Oh...and when the american people ask to be bailed out, the REPUBLICANS return with an F.U. we want tax cuts...



    GFY GOP......
    Last edited: Dec 1, 2010
  2. mcgraw_wv

    mcgraw_wv Rookie

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    The Federal Reserve is not GOP or DEM, they are an uncontrolled, unregulated, un elected powerful body of peopel who's ties are to corporate america. There members are interchanged between government officials and CEOs.

    End the Fed.

    Remember, This is our 3rd Federal Bank of America, the previous 2 were kicked out of America becuase the people knew they couldn't trust a central bank to plan and manage the economy. Call your congress man and ask him to end this current central bank. There is no need for it, it does nothing but ensure power remains in the hands of the powerful.
  3. PatriotsReign

    PatriotsReign Rookie

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    No matter what you bich & moan over, it ALWAYS comes down to your hatred of the republican party. Grow up...NOTHING in this country is the fault of one party over the other.

    Secondly, you seem to also despise capitalism. So I'll ask you point blank what kind of economy you'd prefer to see. That last question will take a lot of courage to answer honestly...so let's see what you're made of.

    BTW...I agree with mcgraw in that the reign of the Fed MUST end and that the Fed has nothing to do with partisanship. So you trying to link the Fed to republicans is laughable.
    Last edited: Dec 2, 2010
  4. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    From the Article.. most americans would like the terms of this loan..

    These numbers are staggering, stop the out of control government spending..

  5. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    The lies leading to the war in Iraq were...
  6. PatriotsReign

    PatriotsReign Rookie

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    Are you stuck in the 60's or what Darryl? So the Vietnam war was the democrats fault as was WWII...now they are even.

    Most Americans would have supported attacking Iraq regardless of WMD's.

    The children in here who believe that one party is good and the other is BAD need to grow up....A LOT.

    That belief is categorically wrong no matter what side of the political fence that one stands.

    But the topic here is the money the Fed lent to banks...
    Last edited: Dec 2, 2010
  7. Ilikehappyppl

    Ilikehappyppl Rookie

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    Makes me sick, should of let them all fail and started over, ya it would of been worse in the short-term but in the long-term it would of been a wake-up call.

    This is what happens when you elect rich morons.....
  8. Real World

    Real World Moderator Staff Member

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    IRAAAQ!!!


    :rolleyes:
    Last edited: Dec 2, 2010
  9. Real World

    Real World Moderator Staff Member

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    Anyone notice how much of the Fed money, or our money, went to bailout foreign banks and entities? WTF is that about?
  10. chicowalker

    chicowalker Rookie

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    fwiw, I didn't take that from his post.

    My take on it was that he was saying this isn't really capitalism -- and he's right.

    I'm as much a proponent of capitalism as anybody, but I'm realistic about it, unlike many of the Republicans who bleat mindlessly about Obama and "socialism." Our system isn't purely capitalist (I don't think there is such a thing) -- this episode shows that quite clearly.

    Anybody who is realistic about our economic system understands that there is no "free market," there is government involvement and there is regulation -- and that all of this is how it should be. So it then becomes a question of degree.
  11. wistahpatsfan

    wistahpatsfan Rookie

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  12. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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    They wouldn't have.. the whole thing was a farce.
  13. PatriotsReign

    PatriotsReign Rookie

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  14. DarrylS

    DarrylS PatsFans.com Supporter PatsFans.com Supporter

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  15. PatriotsReign

    PatriotsReign Rookie

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    And I'm still awaiting HD's response.

    But I appreciate you sharing your own personal views as well chico.
  16. PatriotsReign

    PatriotsReign Rookie

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  17. Holy Diver

    Holy Diver Rookie

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    I'm not linking the Fed to the republicans, I'm stating that when Banks screwed up, and lost, the fed was there to bail them out. When capitalism failed the people, there is nobody there to bail the public out. In fact, they just voted DOWN helping out real people. The republican link comes when they pile it on by halting the well being of fellow americans citing "spending"...and in the same frickin breath b!tch about not getting Tax cuts....its frickin AMAZING.

    I despise what republicans are currently doing. no doubt about it.

    As far as Capitalism goes, It frickin sucks. If this was REALLY Capitalism....these guys would've been allowed to fail We have a puppet economy, and a puppet Gov't. I hate the old sayiong "well if its so bad...what do you think would be better" like you just enjoy the crap sando you've been served. Come on man, its? Its a system that feed off its own greed. And it has been proven by the last 30 years that it does nothing for the common good of the people. Just look at where we are. I'm for a fair system that rewards hard work, and puts criminals who profit form others misery, poverty and health behind bars. I'm certainly falling out of love with what you people who call yoursleves "Fiscal Conservatives" have perverted.

    This country is going down the poop shoot, and Republicans are doing nothing but greasing the plumbing.


    Thanks.


    I sure hope we get tax cuts though, that will solve all this (insert sarcastic emotocon)
    Last edited: Dec 2, 2010
  18. wistahpatsfan

    wistahpatsfan Rookie

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    Last edited: Dec 2, 2010
  19. wistahpatsfan

    wistahpatsfan Rookie

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  20. PatriotsReign

    PatriotsReign Rookie

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    LMAO!!! I saw that too. I was actually responding to Darryl, not you. But I think you know that.

    The last thing I need is for Wistah to come to my neck of the woods.;)

    I think I've got a virus...either that or someone's messing with me.
    Last edited: Dec 2, 2010

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