Half of the criminal fed’s actions have been brought to light.
3.3 trillion tax payer dollars were handed out in crony deals to banks and other industries.
All the start-ups that stood to benefit from the collapse of the behemoths were denied justice in the market by the criminal actions of a handful of men.
The WaPo reports:
The banks universally hailed the Fed on Wednesday.
“In late 2008, many of the US funding markets were clearly broken,” Goldman Sachs said in a statement, echoing similar comments made by Bank of America and Citigroup. “The Federal Reserve took essential steps to fix these markets and its actions were very successful.”
By 2009, Goldman and other Wall Street firms were reporting their best profits ever. That allowed these banks to pay out huge salaries again, but it also drew the ire of lawmakers and ordinary Americans.
Of course they universally hailed the Fed.
Without the Fed, they would all be bankrupt.
The entire purpose of the Fed is to prevent the mega commercial banks from going out of business.
One man made the call to allocate nearly a quarter of the entire American GDP to all manner of crony corporations and criminal banking institutions.