Republishing Small Dead Animal’s piece:
What was revealed in the audit was startling:
$16,000,000,000,000.00 had been secretly given out to US banks and corporations and foreign banks everywhere from France to Scotland. From the period between December 2007 and June 2010. Virtually none of the money has been returned and it was loaned out at 0% interest.
Why the Federal Reserve had never been public about this or even informed the United States Congress about the $16 trillion dollar bailout is obvious – the American public would have been outraged to find out that the Federal Reserve bailed out foreign banks while Americans were struggling to find jobs.
In late 2008, the TARP Bailout bill was passed and loans of $800 billion were given to failing banks and companies. That was a blatant lie considering the fact that Goldman Sachs alone received 814 billion dollars. As is turns out, the Federal Reserve donated $2.5 trillion to Citigroup, while Morgan Stanley received $2.04 trillion. The Royal Bank of Scotland and Deutsche Bank, a German bank, split about a trillion and numerous other banks received hefty chunks of the $16 trillion.
The List of institutions that received the most money from the Fed in a detailed article HERE
Details of the overwhelming bipartisan House Vote for the Rep. Ron Paul (R-Texas) Bill to Audit the Fed HERE
Meanwhile, in Blighty:
YouGov surveyed more than 5,000 adults throughout Great Britain in January this year. It asked how well or badly people thought Parliament was doing its job. The YouGov pollsters asked which were the features of Britain’s political system that were liked the most and which were liked the least.
Just over a third of the respondents couldn’t think of anything worthy of praise. The rest of the findings were dire. Over half the sample (53 per cent) was critical of the quality of our politicians. And there was (and is) a widespread belief that politicians tell lies. Some 62 per cent of respondents agreed that “politicians tell lies all the time – you can’t believe a word they say”.
Filed under: Politics & economics