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Monday, December 13, 2010

And you're angry at THIS president and his administration?

I don't care who you are, whether you're a Conservative, a Republican, an independent, Tea Party member, Libertarian, whomever, if you're in any way angry at this president and his administration for what you see as going into "Socialism" and "big government" and a social-welfare state, honey, you have another think coming.

Yes, come with me now as we once again look back on that last administration and what they and the Fed did for big business, specifically the big banks in this country and around the world.  Let's put this current administration into perspective.

That last administration, via Mr. Bernanke and now former Treasury Secretary Hank Paulson did with our government--and our money.

They gave the following low-interest loans to the following companies, and in these amounts:


Goldman Sachs received nearly $600 billion; 
Morgan Stanley received nearly $2 trillion; 
Citigroup received $1.8 trillion; 
Bear Stearns, received nearly $1 trillion, 
Merrill Lynch, received some $1.5 trillion in short term loans from the Fed.
From Senator Bernie Sanders (Independent, VT) today at The Huffington Post:
We also learned that the Fed's multi-trillion bailout was not limited to Wall Street and big banks, but that some of the largest corporations in this country also received a very substantial bailout. Among those are General Electric, McDonald's, Caterpillar, Harley Davidson, Toyota and Verizon.
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.
Senator Sanders asks a very pertinent question:  Has the Federal Reserve of the United States become the central bank of the world?
Mind you, that last administration kept all this quiet and totally out of the public's knowledge until only recently because Sen. Sanders had to put into law a provision, asking for a breakdown of just what exactly was given to whom but for all the complainers and haters out there, of this administration, I ask you--where was your outrage back when the ultra-white and very-privileged George W. Bush and Co. were spending like drunken sailors and starting pre-emptive and illegal wars, all in our name?
If you're going to be raising hell about something, you ought to be raising it about the guy who gave over the candy store to the rich fatcats, not the guy who is, now, trying to stand up for the everybody else in the country and not the wealthiest top tier.
You knuckleheads.

2 comments:

emawkc said...

Well when you put it that way, I guess it makes everything the Obama administration does okay.

Mo Rage said...

oh, please. You should know better than that.

That's not what I was saying nor what I intended at all.

His stuff stinks just like yours and mine---just not as bad as Dubya's.