Monday, November 28, 2011

Bloomberg: "Secret Fed Loans Helped Banks Net $13B"

[Excerpted]: Nov. 28 (Bloomberg) -- "The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. No one calculated until now that banks reaped an estimated $13 billion of income by taking advantage of the Fed’s below-market rates..."

Majia here: I've lost neighbors because Bank of America and other Too-Big-To-Fail "banks" would not refinance homes.

My neighbors may have made mistakes but they did have jobs and could have made payments if refinancing had been available.

Now their houses stand empty.

My kids feel destitute by the loss of trusted neighbors.

The home values in our upper-middle-class Scottsdale neighborhood continue to fall with each foreclosure. 

I am sickened by the confirmation of what I suspected: The greedy and corrupt banks that caused this crisis benefited from it while continuing to extract ever more resources from the wider population.

1 comment:

  1. You got it, but the sheeple have no rage. The Gestapo of the New World Order (the TSA) is an effective start of domination of will and feeling of freedom.


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