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Does the “INVISIBLE HAND” really exists,and is it giving the USA an opportunity for greatnest”>

September 2, 2011
JIM LEHRER: …” a lot of people who believe… the key to this from the very beginning was not the financial system… it was the housing problem.
JIM LEHRER: … until that is fixed, can the rest be fixed?
HENRY PAULSON:… when you look at how long it’s taken for these excesses to build up and for these home prices to appreciate to suddenly say, “Maybe government could push some button and make it all go away and solve the problem.”…
HENRY PAULSON:… Well, I have always said that at the heart of the problem is the housing correction. And until the biggest part of the price decline in houses is behind us, we will have stresses in the financial markets and in the economy.” (excerpt from FOX interview.2009.)
The government should step up to help  the taxpayers  and EVERY HOMEOWNER..Fix the housing market ; jobs will be created; deficits will be reduced.The problem  is that  the banks have to get the loans to real value,but they cannot do it.Millions of loans  need fixing and the amount of money needed is astronomical!Bank of America alone  has 4 milion of them.
TARP AND TALP were for more than $8 trillion dollars and the banks used that as chump change from their own personal cookie gar.

A Real Jaw Dropper at the Federal Reserve  a blog by US SENATOR BERNIE SANDERS. 

The Fed was forced to divulge …  emergency loans that until now were totally kept from public to make our financial institutions more responsive to the needs of ordinary Americans and small businesses.

What have we learned so far from the disclosure of more than 21,000 transactions? We have learned that the $700 billion Wall Street bailout signed into law by President George W. Bush turned out to be pocket change compared to the trillions and trillions of dollars in near-zero interest loans and other financial arrangements the Federal Reserve doled out to every major financial institution in this country
The Fed said that this bailout was necessary to prevent the world economy from going over a cliff. But three years after the start of the recession, millions of Americans remain unemployed and have lost their homes, life savings and ability to send their kids to college. Meanwhile, big banks and corporations have returned to making huge profits and paying their executives record-breaking compensation packages as if the financial crisis (I read  criminal fraud)  they started never happened.
What this disclosure tells us, among many other things, is that despite this huge taxpayer bailout, the Fed did not make the appropriate demands on these institutions necessary to rebuild our economy and protect the needs of ordinary Americans.
The four largest banks in this country (Bank of America, JP Morgan Chase, Wells Fargo, and Citigroup) issue half of all mortgages in this country. We now know that these banks received hundreds of billions from the Fed. How many Americans could have remained in their homes, if the Fed required these bailed-out banks to reduce mortgage payments as a condition of receiving these secret loans?
We have begun to lift the veil of secrecy at one of most important agencies in our government. What we are seeing is the incredible power of a small number of people who have incredible conflicts of interest getting incredible help from the taxpayers of this country while ignoring the needs of the people.

What have we learned so far from the disclosure of more than 21,000 transactions? We have learned that the $700 billion Wall Street bailout signed into law by President George W. Bush turned out to be pocket change compared to the trillions and trillions of dollars in near-zero interest loans and other financial arrangements the Federal Reserve doled out to every major financial institution in this country. Among those are Goldman Sachs, which received nearly $600 billion; Morgan Stanley, which received nearly $2 trillion; Citigroup, which received $1.8 trillion; Bear Stearns, which received nearly $1 trillion, and Merrill Lynch, which received some $1.5 trillion in short term loans from the Fed.

Perhaps most surprising is the huge sum that went to bail out foreign private banks and corporations including two European megabanks — Deutsche Bank and Credit Suisse — which were the largest beneficiaries of the Fed’s purchase of mortgage-backed securities.

Deutsche Bank, a German lender, sold the Fed more than $290 billion worth of mortgage securities. Credit Suisse, a Swiss bank, sold the Fed more than $287 billion in mortgage bonds.”
ADD IT UP:OVER $8 TRILLION !

CALL IT  QE3. OR CALL IT PROVIDENCE,We can solve the problem..
Money lent to the auto industry paid off;NOW DO IT FOR HOUSING.Jobs were created and GDP was increased,this was a real win/win.So where does that differ from the $8 plus trillions given to the banks?This money is not to be given to the foxes that are in the henhouse.The banks have proven their greed and have proven to be  untrustworthy.

THE SOLUTION:
THE FEDERAL BANK OF THE UNITED STATES OF AMERICA .
Federal Bank USA will purchase ALL residential and commercial loans.The American people will be the lenders and no longer will they be the victims of greed.No longer will they allow the banks that they have entrusted with their money to use that money to make profits for themselves.Profits will be made by the people,of the people, for the people.
Taxpayers bailout for Taxpayers by Taxpayers paying compounded interest to Taxpayers.
These loans  would provide  trillions of dollars as TAXPAYER PROFIT! Bye-bye  NATIONAL DEBT.

State Banks are taxpayer owned and are for taxpayers to make and retain any profit.The Federal Reserve Bank as it stands now is a bank that is owned (shareholders) by other banks.This is the greatest banker fraud of all,and we know how Freddie and Fannie turned out.(We will get to them later).And because the Federal Reserve Bank is the bankers bank,they are using taxpayers dollars to HELP THEIR BANKS more than to help people.When the banks made federal guareanteed loans,the FEDS guaranteed the loans with taxpayer dollars.
You have to read “North Dakota’s economic “miracle” blog by Ellen Brown
State Bank of ND ROE to taxpayers was 19% this year.
 
More to follow.justaluckyfool.blogspot.com 
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