Originally Posted by food for thought
I thought all US banks were required to pay back the money they borrowed during the bailouts
im not sure.. but on the foreclosure payouts...
hahah yeah out the 27 billion?
each home owner got about 2000$s each..
the rest of teh tax payer cash went back to the banks..
check these articles out..
Monday, November 28, 2011
Quelle Surprise! Banks Lied About Bailout Funds and Got $13 Billion in Profit from Them
Bloomberg News is continuing with the thankless task of pushing forward with FOIA requests relative to the Fed’s lending programs, and once it eventually gets its troves of documents, having to slog through them to see what they reveal.
Bloomberg has a long article up on its site about its latest findings
. And the bottom line is everybody close to the process lied like crazy. For instance:
Read more at http://www.nakedcapitalism.com/2011/...iqyS4DFbzW2.99
Is QE3 Yet Another Stealth Bank Bailout?
It’s difficult to puzzle out what Bernanke thinks he is accomplishing with QE3. The level of bond buying, as various commentators have pointed out, is much lower than in the earlier QE programs. And pulling out bigger guns in the past was not terribly productive. As we wrote in April 2011 in a post titled “Mirabile Dictu! Economists Agree All the Fed Has Done is Goose Financial Markets!
Read more at http://www.nakedcapitalism.com/2012/...1EFQoI7mIQe.99
QE is just helping the bankers/elite consolidate more, buy up anything of any value, while none of the cash that is pumped into the system filters down.. hence inflation will go higher,, due to the massive amounts of fiat currency being pumped into the system,, the doller/pound/euro will always depreciate.,, the more money thrown in at the top the harder for the normal folks..
while looking for something that i cant find.. i came across this
U.S. Gave Tens of Billions to Libor-Manipulating Banks ... Even AFTER Learning about the Manipulation
ok fuck all that shit i posted..lol
this is what i was looking for..
$26 billion dollar settlement reached between 49 states, government authorities, and the 5 biggest banks. But this $26 billion won't go too far in helping the millions of Americans that need it. But what is $26 billion to the banks? Is this even a punishment? Richard Eskow, senior fellow with Campaign For America's Future.
Tuesday, November 1, 2011
Matt Stoller: Why a Foreclosure Fraud Settlement is a RIDICULOUS Idea
By Matt Stoller, the former Senior Policy Advisor to Rep. Alan Grayson and a fellow at the Roosevelt Institute. You can reach him at stoller (at) gmail.com or follow him on Twitter at @matthewstoller.
Gretchen Morgenson is ringing alarm bells
that a 50 state settlement on the foreclosure fraud issue is on deck, and is spelling out some of the details. There would be some principal write-downs, random cash payouts for those who were foreclosed, and money to buy off nonprofits in the states that work on housing issues (a classic Fannie/Freddie Dem friendly tactic Morgenson and Rosner exposed nicely in their book Reckless Endangerment). The settlement looks vague and stupid, and will probably be executed with the care and competence of HAMP. But let’s put that aside.
Read more at http://www.nakedcapitalism.com/2011/...zp8VEcQhAAo.99
^^ lol at state govt using forclosure payouts to balance their own budgets.. lolol
Thursday, February 24, 2011
Mortgage Fraud Whitewash: $20 Billion “Get Out of Jail Free” Settlement Floated
American leadership is reliable in one respect: it consistently undershoots my already low expectations.
Or maybe I have it backwards because I keep forgetting who the authorities are really serving, and it clearly isn’t you and me. As we will discuss below, the latest scam is that the banking regulators are finalizing a mortgage “breakdown” settlement, and they’ve evidently decided to let the industry off the hook for a mere $20 billion.
Read more at http://www.nakedcapitalism.com/2011/...CRgJxx03tDt.99