Wall Street Aristocracy Got $1.2 Trillion in Fed's Secret Loans

Categorized | STOP FORECLOSURE FRAUD

Wall Street Aristocracy Got $1.2 Trillion in Fed’s Secret Loans

Wall Street Aristocracy Got $1.2 Trillion in Fed’s Secret Loans

“Why in hell does the Federal Reserve seem to be able to find the way to help these entities that are gigantic?” U.S. Representative Walter B. Jones, a Republican from North Carolina, said at a June 1 congressional hearing in Washington on Fed lending disclosure. “They get help when the average businessperson down in eastern North Carolina, and probably across America, they can’t even go to a bank they’ve been banking with for 15 or 20 years and get a loan.”

Bloomberg-

Citigroup Inc. (C) and Bank of America Corp. (BAC) were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest U.S. banks and brokerage firms to their best year ever with $104 billion of profits.

By 2008, the housing market’s collapse forced those companies to take more than six times as much, $669 billion, in emergency loans from the U.S. Federal Reserve. The loans dwarfed the $160 billion in public bailouts the top 10 got from the U.S. Treasury, yet until now the full amounts have remained secret.

[BLOOMBERG]

© 2010-17 FORECLOSURE FRAUD | by DinSFLA. All rights reserved.



Comments

comments

This post was written by:

- who has written 8684 posts on FORECLOSURE FRAUD | by DinSFLA.

CONTROL FRAUD | ‘If you don’t look; you don’t find, Wherever you look; you will find’ -William Black

Contact the author

One Response to “Wall Street Aristocracy Got $1.2 Trillion in Fed’s Secret Loans”

  1. RobertSanDiego says:

    Are you f_cking serious, (Mr. Jones)!!!
    The Federal Reserve is a private corporation owned by the IMF and World Bankers,…DUH?!
    Really,…I mean really,…you idiot?!?
    Tell me you don’t know this already and if you don’t, please walk in front of a bus today, (sheesh!!).
    End the FED,…and maybe we can return America back from the brink?!? (What a stupid pampered idiot you must be, Mr. Jones)

Trackbacks/Pingbacks


Leave a Reply

GARY DUBIN LAW OFFICES FORECLOSURE DEFENSE HAWAII and CALIFORNIA
Advertise your business on StopForeclosureFraud.com

Archives