NEED TO KNOW | The true cost of the bank bailout | PBS

[midnight]

Run time: 09:27 https://www.youtube.com/watch?v=CPgwNdzvhG4   Posted on YouTube: September 07, 2010 By YouTube Member: PBS Views on YouTube: 335   Posted on DU: September 08, 2010 By DU Member: midnight Views on DU: 1345

 
Federal is in an appeals process with Bloomberg L.P. via financial journalist Mark Pitman. Mark Pitman died while bringing this case to court. His case has won twice against the federal reserve which is again in appeals. The banks will not show and tell where 12.8 trillion went. We know only about congress watching over a small pot of that money-700 billion in tarp funds.

[Marblehead]

1. I want to know!!

$12 trillion, they stole it all.

[midnight]

2. On 7/21/09 Grayson: Which Foreign banks got the Fed's 500 Billion? "I don't know"

was Bernanke's response. Maybe that is code for they stole it all.

[democracy1st]

3. K & R

[jonthebru]

4. This is a bad thing

Maybe as he said bailing these Cons out was the right thing to do, but regardless we the taxpayers who are mainly month to month above water gave these already really rich institutions all our money. (Actually the money was probably borrowed from China or the Saudis like the cash that pays for the war and we are responsible for paying the interest.) Anyway each of us are still basically one paycheck away from the poor house and these rich cons gave each other bonuses and golden parachutes with our frickin' money.
I didn't even get a T shirt.

The system is loaded, it really difficult to be optimistic these days, but we do have to vote and get all our progressive friends to vote against the fascist, tyrannical conservative neocons and their a$$whole financiers. MUST VOTE.

[sulphurdunn]

5. Please correct me if I'm wrong,

but it sounds to me like the full faith and credit of the government is backing private bank solvency to the tune of the annual GDP of the entire country.

[Skink]

6. the Bubble imploded. If we hadn't picked up these securities who would have?

widespread fraud was commited in the run up of housing prices. I'd much rather see serious legislation enacted to avoid this happening again.

[KansDem]

7. Better yet...

We could enact legislation to prevent this from happening again, but I'd also like to see the perps arrested, tried, and jailed for long prison terms.

I would think a would-be Bankster or Con Streeter would think twice.

That should be an effective deterrent for this kind of scamming and fraud to ever happen again...:)