Secret Records of US Bank Bailout Released, Over Howls of Protest [Link]

November 29, 2011 by Gabe | [mmd] |

Just staggering. Half of everything produced in the U.S. Everything.

"Add up guarantees and lending limits, and the Fed had committed $7.77 trillion as of March 2009 to rescuing the financial system, more than half the value of everything produced in the U.S. that year.

...

They had no clue that one bank, New York-based Morgan Stanley (MS), took $107 billion in Fed loans in September 2008, enough to pay off one-tenth of the country’s delinquent mortgages."

 

BoingBoing

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