Wednesday, December 1, 2010

Federal Reserve Opens its Books on the $9 TRILLION in loans given to Wall Street during the crisis - yes, $9 TRILLION

All the scary goodness is being reported HERE
$9 TRILLION -- that is $9,000,000,000,000 in loans (at .5% interest) given to the banks and others (McDonalds?? Harley Davidson??).

One has to wonder, with $9 trillion in loans to the banks, backed by $9.5 trillion on junk securities (i.e. its worth closer to $0, NOT $9.5 trillion), how is the Federal Reserve going to get out of this mess ..... this is not good.

1 comment:

  1. $9,000,000,000,000!! And I have to listen to people including our court system call people like me the DEADBEAT!
    What's wrong with this picture?