Leave a comment

DC Skeptics

It recently came to light that the Federal Reserve gave secret loans of more than $1.2 trillion to more than 300 financial institutions to keep them from collapse. Add on another $700 billion from TARP, and that was $2 trillion pumped into the financial sector in the last four years.  The massive broad-based infusion of money worked from the aspect that the system did not collapse like it would have on its own.

Laughably, Bank of America may still need to be bought out to avoid collapse, at the potential expense of $100 billion in taxpayer dollars!

Now, what’s maddening about this is that the bailouts worked. It resuscitated a system that deserved to die.

So, it was socialism, massive manipulation of the “private” market that saved the rich. But it’s capitalism for the rest of you chumps in the mortgage crisis!

The American oligarchy managed to briefly unite…

View original post 409 more words

Advertisements

Posted September 28, 2011 by asrardan in Uncategorized

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: