I’m not sure if you people will comprehend the gravity of this, but I’ll post it here anyways and hope some of you are smart enough to figure out just how outrageous this whole thing is.
The English language does not have words for me to adequately describe the level of theft and looting.
By repaying its TARP loan, for example, Goldman wriggled out from under the nettlesome compensation limits imposed by TARP, while also conveying an image of financial strength. But this “strength” was illusory. Goldman repaid the TARP loans with funds it procured days earlier from the Federal Reserve. Then, over the ensuing months, Goldman recapitalized its balance sheet by selling tens of billions of dollars of mortgage-backed securities to the Fed.
And the public never knew anything about these activities until two weeks ago, when the Fed was forced to reveal them….
A more detailed breakdown of other backdoor bailouts that dwarf TARP can be found here:
The bailouts were extended to Deutsche Bank and Credit Suisse along with all the other major American players.
The level of looting is beyond comprehension.
All made possible by our friendly Federal Reserve bank.