Federal Reserve Bailout

@dark_joev (3034)
United States
December 20, 2010 10:43pm CST
FOREIGN BANKS: - $1.5 trillion (almost £1trillion) to British banks - European Central Bank - Central Bank of England - Central Bank of Australia - Central Bank of Denmark - Central Bank of Japan - Central Bank of Mexico - Central Bank of Norway - Central Bank of South Korea - Central Bank of Sweden - Central Bank of Switzerland - $290 billion to Deutsche Bank - $287 billion to Credit Suisse - $165 billion to UBS (Swiss) - $92 billion to Royal Bank of Scotland (RBS) - $41.8 billion to BNP Paribas - $38 billion to Barclay's - $14.9 billion to Commerzbank AG FOREIGN GOVERNMENTS: - Republic of Korea - The Free State of Bavaria DOMESTIC BANKS: - $2.2 trillion to Citigroup - $2.1 trillion to Merrill Lynch - $2 trillion to Morgan Stanley. - $960 billion to Bear Stearns - $887 billion to Bank of America - $615 billion to Goldman Sachs - $178 billion to JP Morgan Chase - $154 billion to Wells Fargo - $60.2 billion to AIG - $7.5 billion to SunTrust DOMESTIC CORPORATIONS: - $16 billion to General Electric - $15.8 billion to Ford Motor Company - $13.5 billion to GMAC - $2.3 billion to Harley-Davidson - $1.48 billion to Verizon - $733 million to Caterpillar - $203.5 million to McDonald's (REALLY?!?) This is where your money went. Aren't you so happy look at all the Great Companies you helped out. Some of the aren't even in this country. So what do you think of the Federal Reserve? Do you think we need to get rid of it? Have the Government take it over so that we the people can control it?
1 response
ParaTed2k
@ParaTed2k (22940)
• Sheboygan, Wisconsin
21 Dec 10
It was the government that gave all that money to these corporations, not the federal reserve. Now you demand that same government own the money too? There have been several attempts at government printing money in the US... All of them failed. I have my differences with the federal reserve and how it is run, but the federal reserve system has shown much more success than ANY government printing of money.
ParaTed2k
@ParaTed2k (22940)
• Sheboygan, Wisconsin
21 Dec 10
But to your major point.. yes, it is disgusting that our government has borrowed so much money, just to give it to other countries.
dark_joev
@dark_joev (3034)
• United States
21 Dec 10
No this money actually came from the Federal Reserve they own "our" money. Our Government actually did a pretty good job of it. The colonies had their own set of money and we where on the Gold Standard for a very long time. The Great Depression was caused by some of the Biggest Bankers of the time primarily J.P Morgan who was one of the people to help found the Federal Reserve. They are a private corporation that controls our nation and actually has more power than congress and the president put together that is why the government running it would be the best option as then we the people would have direct control of our nations currency.
ParaTed2k
@ParaTed2k (22940)
• Sheboygan, Wisconsin
21 Dec 10
All money beyond what is collected in taxes is borrowed from somewhere... well, up until soon when the Fed starts doing just what you're talking about now. All the money handed out up until now has added to the deficit (and later the debt). Remember when Obama promised he would veto any non emergency legislation that adds to the deficit?