Today we learned that the Fed has joined in promising up to $7.4 trillion towards ending the Credit Crunch. When you look at these charts you will start to understand what a disaster looks like on paper.
Fifty or so revolutionaries gather to rally against the Federal Reserve Bank in Phoenix AZ
Everyone’s pointing at Citi because they’re the ones in the news this week. But mark my words, all of the other banks will come crawling to the Fed and Treasury, demanding that the government absorb hundreds of billions of losses lurking on their ba
6 hour Rally - almost 100 people - 39 cities across America with THOUSANDS participating - and this is all your 'lamestream media' told you!
Citigroup’s $2 trillion of assets dwarfs companies such as American International Group Inc. that got support from the U.S. government this year. Treasury Secretary Henry Paulson and Federal Reserve Chairman Ben S. Bernanke may favor a rescue...
U.S. stocks rose after NBC News reported that President-elect Barack Obama will name New York Federal Reserve Bank President Timothy Geithner to head the Treasury.
Hopefully, this bubble doesn’t pop. Hopefully it just slowly deflates. Then again, take a look at this chart for LT government debt circa the Great Depression (chart from Karl Denninger via Aaron Krowne):
Attacks pictured the leaders of the G20 Summit as opportunists continuously conspiring to rob the American people blind! It makes no sense… just pure loconomics!
Not only is it a astronomical amount of money, its' a complicated cocktail of budgeted dollars, actual spending, guarantees, loans, swaps and other market mechanisms by the Federal Reserve, the Treasury and other offices of government taken over
But they’re saying that they won’t disclose who has received these taxpayer loans, because it could cause a run on the banks, it could cause the market to lose confidence in the institutions that have taken these loans.
Japanese economists, increasingly concerned that the United States might seek to pay its enormous and growing debt obligations in a weakened US dollar, are looking to the possibility of US Treasuries being issued in yen.
The Fed claims to be a "private central bank" but in fact that's a lie too - their losses are yours, and their "liquidity" is your tax money. If The Fed wants to be a "private bank" then cut it off from taxpayer sub
With every passing day of economic woe, the scale of the heist just perpetrated against America's taxpayers by the country's largest banks becomes more apparent.
This 9 minute video provides a number of viewpoints on the unraveling of Paulson's Ponzi scheme. People are starting to wake up to the fact that we as a people have been robbed on an almost unimaginable scale.
At least 110 banks have requested more than $170 billion from the Treasury Department's rescue fund, and many more are expected to have submitted applications before Friday's deadline.
In addition to Hartford Financial, the AP reports that Genworth Financial Inc., Lincoln National Corp. and Aegon NV have all asked the Office of Thrift Supervision for permission to buy thrifts - and access the TARP.
Not the kind you buy on an exchange. The kind you put in the public square.
U.S. regulators said at least one central clearinghouse for the $33 trillion credit-default swap market will be running by year-end after they agreed on a plan to regulate the entities.
If there are no foods shipped from the bakeries and factories, there are no foods in the shops. If there are no foods in the shops, people go hungry. If people go hungry their children go hungry. When children go hungry, people riot and governments f
I don’t know about you. But I started keeping a mental “Outrage List” a while back. The idea: Chronicle all the ridiculous statistics, all the lies, all the questionable practices, and all the dubious “rescue packages” Wall Street and Washington keep
An episode of Duck Tales dealing with the negative consequences of inflation. Tells you everything you need to know in 4 minutes. Show this to your friends and invite them to End the Fed, November 22!!
Yves here. This logic helped get the US in trouble in the first place, a regulatory race to the bottom. Now we are getting it on the subsidiy side, as the industry hoovers up everything it can. And by all accounts, banks have excess reserves at the F
The Treasury Department says the deficit for the first month in the new budget year was the highest monthly imbalance on record. It was more than four times larger than the October 2007 deficit of $56.8 billion.
You think "Joe Middle Class Six Pack" finds this amusing - or acceptable - when it scuttles all the other promises you (and the rest of the Democrats) have made? You think "Joe" hasn't figured it out by now?
No formal action has been taken to fill the independent oversight posts established by Congress when it approved the bailout to prevent corruption and government waste. Nor has the first monitoring report required by lawmakers been completed...
Members of Congress, taxpayers and investors urged the Federal Reserve to provide details of almost $2 trillion in emergency loans and the collateral it has accepted to protect against losses.
According to CreditSights, a research firm in New York and London, the U.S. government has put itself on the hook for some $5 trillion, so far, in an attempt to arrest a collapse of the financial system.
#1 Game's over Ben; you no longer have "liquidity" to shower on the market; there's no take-up. #2 Now we're left with either (1) doing the right thing or (2) Weimar Germany-style printing. #3 Henry Paulson was lying once again
Treasury Secretary Henry Paulson called autos a "critical industry in this country" on Wednesday but said the government's $700 billion financial rescue program wasn't designed to help automakers.
The U.S. might really have to look at a default on the bankruptcy reorganization of the present financial system" and the bankruptcy of the government is not out of the realm of possibility, Hennecke said.