admin's picture

As if we should be surprised. That the fed loaned out to banks more money than the US National debt. 16 Trillion (with T) dollars! WTF.

OK I know we are no fans of Ron Paul over here, but this is just too interesting for me to pass up,

The first ever audit has been conducted over the last few months due to an amendment in the Dodd-Frank Bill. The results were truly staggering. Over $16,000,000,000,000.00 has been given in bailouts to banks and other corporations throughout the world from December 2007 – June 2010. Remember, that is just for a three year period. The Federal Reserve has been in existence since 1913. This $16 trillion dollar figure surpasses both the national debt and the annual gross domestic product for the United States.

According to the TARP, only $700 billion was supposedly given out to faltering banks and companies. However, Citigroup alone received $2.5 trillion. The Fed loaned money to banks in France, Scotland, and Belgium. Here is the list of some institutions that received the most money on page 131 of the report:

Citigroup: $2.5 trillion ($2,500,000,000,000)
Morgan Stanley: $2.04 trillion ($2,040,000,000,000)
Merrill Lynch: $1.949 trillion ($1,949,000,000,000)
Bank of America: $1.344 trillion ($1,344,000,000,000)
Barclays PLC (United Kingdom): $868 billion ($868,000,000,000)
Bear Sterns: $853 billion ($853,000,000,000)
Goldman Sachs: $814 billion ($814,000,000,000)
Royal Bank of Scotland (UK): $541 billion ($541,000,000,000)
JP Morgan Chase: $391 billion ($391,000,000,000)
Deutsche Bank (Germany): $354 billion ($354,000,000,000)
UBS (Switzerland): $287 billion ($287,000,000,000)
Credit Suisse (Switzerland): $262 billion ($262,000,000,000)
Lehman Brothers: $183 billion ($183,000,000,000)
Bank of Scotland (United Kingdom): $181 billion ($181,000,000,000)
BNP Paribas (France): $175 billion ($175,000,000,000)

According to Senator Bernie Sanders, “This is a clear case of socialism for the rich and rugged, you're-on-your-own individualism for everyone else.”



Great catch. Thanks for posting this.

best wishes too.

admin's picture


Been a while, Nice to see you're up and kicking.
I read the report and it turns out the 16 trillion figure is somewhat a bit of creative accounting, in that if an institution borrowed 10 billion dollars for 1 day and did not repay the money but extended the loan for another day, 30 times, that was counted as 300 billion loaned rather than the repeatedly renewed loan amount of 10 billion. So who knows, I have a pretty good hunch it's all a big huge ripoff of the taxpaying public however it's accounted.


Apologies for another long silence. I am indeed up and kicking ... but just a little bit.

My shoulder muscles are all torn, my treatment seems to have broken down, my doctor has moved away, and I am still having trouble typing more than one line at a time. So I expect I will have to be pretty quiet for a while.

Still itching to get back, and still wishing you and our other online friends all the best ...

I will return as soon as I can

best wishes as always

Dismal News

This is truly dismal news, WP. I am dismayed beyond words for you. Though it sounds lame, take care and you are in my thoughts and prayers.

Try Natural Hemp Oil

Try Natural Hemp Oil, Winter, see Mazzucco.

thanks, James

Your kind words are greatly appreciated.

Despite all the setbacks, I have been seeing some improvement in the last day or two, and perhaps it will continue.

Take good care yourself, and I will be back with more as soon as I can do it.

McJ's picture

Hi Winter

I am sorry to hear of your ongoing troubles. I'll send good thoughts your way that your recent improvements will continue!

I added a Mark Knopfler concert video to the forum. You may like to give it a watch. I can highly recommend it and you don't need to be able to type to enjoy it!

Hi McJ

Thanks very much for your kind words, and for the guitar lesson too. Cool

McJ's picture

Welcome Winter

You are welcome for the lesson Winter. I am pleased to have been of some small service to you. excellent! Hope you enjoyed it!

party time!

I'm off to read your latest installment....yeah!

a remarkable player

I have never been much of a fan, but I am a long-time fingerpicker and Mark is a very remarkable player, so this video provides plenty of learning opportunities. (And his band is really good too!)

Thanks again, and more soonest!

McJ's picture



McJ's picture


Thanks for posting this. I wish I could say, I'm surprised.

"So who knows, I have a pretty good hunch it's all a big huge ripoff of the taxpaying public however it's accounted."

I'd say that was a pretty darn good hunch, you have there! excellent!

And thanks for keeping us up and running. It is much appreciated.

Post new comment

The content of this field is kept private and will not be shown publicly.
By submitting this form, you accept the Mollom privacy policy.