October 21, 2011
A couple of days ago I mentioned that Bank of America, in an approval from the Federal Reserve (Ben Bernanke) and the FDIC, transferred $75 trillion in potentially toxic assets to a taxpayer-guaranteed account. If you don’t quite understand what that means, watch the following video. It will help.
July 30, 2011
Besides the fact that the Republicans in Congress continue to do everything in their power to kill any regulation over Wall Street banks, the bankers them selves, with the help of their grand organizations, have unleashed an army to circumvent the law.
Lobbyists fighting to defeat oversight on the banks have visited [...]
March 16, 2011
It never gets any better; it only gets worse. I’m referring to, of course, the amount of taxpayer money that Wall Street banks relied on in order to keep from going under.
For two years the Old Man has been pointing out that the $700 billion in TARP money was a small [...]
Why are we loaning money to banks at an interest rate 16 times lower than we’re paying for the money? [...]
These guarantees by the FDIC, using taxpayer money, seems to be a subject that everyone wants running under the radar. The only money regularly talked about is the TARP money, and how Citigroup is “paying-it-back”! [...]