Fed loans to financial markets total $590 bln in latest week

[UpInArms]

Source: CBS Marketwatch

WASHINGTON (MarketWatch) - Commercial banks, investment banks, American International Group, and commercial paper issuers borrowed $590 billion from the Federal Reserve as of Wednesday, the Fed reported Thursday. This is up from $408 billion in the previous week. The increase reflected $243.3 billion in commercial paper purchased by the central bank under a new facility. The program is aimed at allowing nonfinancial firms to restart issuing commercial paper to pay for near-term funding needs. As of Wednesday, Nov. 5, commercial banks borrowed $108.6 billion, the investment banks and broker-dealers borrowed $71.6 billion and AIG borrowed $81.2 billion.

Read more: http://www.marketwatch.com/news/story/Fed-loans-financial-markets-total/story.aspx?guid=%7BCE705CD9%2D8383%2D4B3E%2DA640%2D25D382D74AB9%7D

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my pockets feel lighter by the minute - there won't be a single penny in the vaults for 300 years because of these criminals

[closeupready]

1. These sums are so vast, it's dumbfounding.

n/t

[ixion]

2. failing? insolvent? here, have a few billion to tide you over

:wtf:

I'm sick of paying for bankers stupid decisions. I paid $31 dollars just for regular old checks today. Considering I'm footing the bill for their survival, I should at least get free checking.

[Frisbee]

3. Almost time...

for the year-end bonuses, gotta be sure they can pay them. The fact that this was allowed to happen, and nobody besides the taxpayers seem to be penalized for it is absolutely sickening.

[Turbineguy]

4. Money to buy

new yachts and bizjets with.

[Phred42]

5. They fully intend to clean out the treasury and max-out the 'Credit cards"

Before they are kicked out

[Connonym]

6. I'm wondering why us little guys still follow the rules

there's part of me that thinks what the fuck, why shouldn't I go for bankruptcy and screw them all back. Are we suckers for playing by the rules? My life would be a helluva lot easier if I didn't have 6k in medical bills to pay (and I've got insurance for god's sake!)

[Hannah Bell]

8. which is how societies fall apart. corruption at the top is what breeds it at the bottom.

welcome to the third world - baksheesh, pirates, highwaymen, armed guards in front of stores & gated communities.

[Hannah Bell]

7. that's about 1 year's social security payments.

but we can't afford those.

bwah ha ha!!!

[indepat]

9. And locally the radio talking heads and LTTEs are all up in arms about a Socialist States of

America emerging after the inauguration. :shrug:

[formercia]

10. Paying the national debt from pocket change...

When bread is 10 Billion USD a loaf.

History has shown that this behavior leads to massive hyperinflation. Anyone who buys Treasuries is just pissing their money down a rat hole.

[high density]

11. How many trillions have we "loaned" to big business this year?

And after this, why are all of us still paying usury rates on most if not all of our loans while the banks get the money for almost nothing? This is madness.

[Festivito]

12. Which they borrowed from US, running up our debt.

In last 48 days they've added over 900B$ to the national debt. The prior fiscal year added 1T$. The BushII years prior were mostly around 500B$, i.e. half-trillion dollars.

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