Thursday, August 25, 2011

Fallout from the Fed’s Secret $1.2 Trillion Bank Bailout

Did you know the Federal Reserve secretly loaned up to as much as $1.2 trillion to U.S. and foreign banks? This information has now been released and we even know the institutions that got the bulk of the funds. Can you say, Morgan Stanley, Citigroup, Bank of America?

Due to the inflammatory nature of this information, the Fed has been reluctant to share it with Americans, but now it has come out due to a lengthy Freedom of Information Act (FOIA) investigation by Bloomberg.

The proposed solution to this incredible deception and sellout to Wall Street is a solid, three-part recommendation for dealing with the problem in a more permanent manner: 1. Fire the senior management of the banks… 2. Ban…all lobbying activity as a condition of any aid… 3. Force a Swedish style prepackaged bankruptcy.