US sold down the river by Bernanke and Greespan

Full story: Examiner.com
Because of the house bill HR1207, the Federal Reserve underwent an audit for the first time by the Government Accountability Office and to our surprise $16,000,000,000,000 of American's money had been given out in secret bailouts. Read more
gossamer

Warren, MI

#1 Sep 2, 2012
There you have it.

Ben Bernanke, Alan Greenspan and hive of other bankers objected to the audit lest they be caught with their pants down and, sure enough, we can now see their underwear. For fear of exposure, these master thieves lied to Congress about how the audit would affect the free market, hoping to derail the investigation.

The audit revealed that while Americanís were beating the pavement for jobs that donít exist, watching their money deflate and the debt rise, The Fed (not part of the government) had loaned out $16T to US and foreign banks at 0% interest between 2007 and 2010 and virtually none of the money has been returned.

The list of recipients looks something like this:

Citigroup:$2.5 trillion ($2,500,000,000,000)
Morgan Stanley:$2.04 trillion ($2,040,000,000,000)
Merrill Lynch:$1.949 trillion ($1,949,000,000,000)
Bank of America:$1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom):$868 billion ($868,000,000,000)
Bear Sterns:$853 billion ($853,000,000,000)
Goldman Sachs:$814 billion ($814,000,000,000)
Royal Bank of Scotland (UK):$541 billion ($541,000,000,000)
JP Morgan Chase:$391 billion ($391,000,000,000)
Deutsche Bank (Germany):$354 billion ($354,000,000,000)
UBS (Switzerland):$287 billion ($287,000,000,000)
Credit Suisse (Switzerland):$262 billion ($262,000,000,000)
Lehman Brothers:$183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom):$181 billion ($181,000,000,000)
BNP Paribas (France):$175 billion ($175,000,000,000)


Americans were fooled into believing that only $800B (bad enough) was loaned out in the TARP bailout but that was just the tip of the iceberg. Goldman Sachs alone received $814B so we know the numbers were fudged and American citizens were duped again. "This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else," says Sanders.

While we sit and watch TV and pretend that everything is OK, the largest transfer of wealth in the history of the planet is seriously underway. Whatís in your wallet?

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