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bossy22 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Nov-28-11 02:05 PM
Response to Original message
7. This is misleading
99% of those loans were short term or "repo loans". These loans are made all the time and often don't last last more than 24 hours (hence the term overnight window). They allow banks that are short on their capital and reserve requirements to meet them temporarily.

Also, the fed just doesn't give money to the banks, the banks must pledge collateral for every amount they borrow.

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  -Fed lent banks nearly $8 trillion during crisis, report shows Playinghardball  Nov-28-11 12:53 PM   #0 
  - That's our damn money  DURHAM D   Nov-28-11 01:01 PM   #1 
  - Congress 1913 Federal Reserve Act - its their job. n/t  banned from Kos   Nov-28-11 01:12 PM   #2 
  - In reality it's not  bossy22   Nov-28-11 02:10 PM   #8 
     - when you allow private banks to create money out of thin air, how can a democratic government  yurbud   Dec-01-11 12:59 PM   #54 
  - How much went to the Carlyle Group? They were up to their eyeballs in toxic debt.  McCamy Taylor   Nov-28-11 01:17 PM   #3 
  - How much has been siphoned into Teabagger campaigns?  Blue_Tires   Nov-30-11 02:28 PM   #53 
  - Actually, this was kind of known at the time, though not the amount.  caseymoz   Nov-28-11 01:22 PM   #4 
  - Doing what u say would cause massive hyperinflation  bossy22   Nov-28-11 02:14 PM   #11 
     - I know the Fed and Treasury are two separate entities.  caseymoz   Nov-28-11 05:44 PM   #24 
        - The Wiemar republic example was not an example of the money supply but of general hyperinflation  bossy22   Nov-28-11 06:04 PM   #26 
           - Money supply is linked to hyperinflation.  caseymoz   Nov-29-11 01:53 AM   #43 
  - "Stern wasn't aware of the magnitude".  russspeakeasy   Nov-28-11 01:37 PM   #5 
  - For all those wingnuts carping about OWS, this is what it is about. No  harun   Nov-28-11 02:04 PM   #6 
  - Even here, 'posters' are in a smear campaign against OWS. -eom  Huey P. Long   Nov-29-11 11:32 AM   #49 
     - Yes, there are. I wonder if they are infiltrators or just TV watching drones  harun   Nov-29-11 01:07 PM   #51 
  - This is misleading  bossy22   Nov-28-11 02:05 PM   #7 
  - Collateral as in fantasy valuated real estate?  plumbob   Nov-28-11 03:44 PM   #18 
  - LOL!  No Elephants   Nov-28-11 11:16 PM   #38 
  - is this in addition to the $16 trillion Bernie Sanders audit of the Fed found?  yurbud   Nov-28-11 02:13 PM   #9 
  - Your government  dipsydoodle   Nov-28-11 02:14 PM   #10 
  - The federal reserve is not tax payer funded  bossy22   Nov-28-11 02:17 PM   #12 
     - It is government authorized. As-in it's authority comes from the Gov't.  harun   Nov-28-11 02:24 PM   #13 
        - It's charter is government authorized  bossy22   Nov-28-11 02:31 PM   #14 
           - Self funded  robbob   Nov-28-11 03:15 PM   #15 
           - Well not exactly  bossy22   Nov-28-11 03:28 PM   #16 
           - They can create a liability for the taxpayers. They are part of the government.  plumbob   Nov-28-11 03:47 PM   #19 
              - they can NEVER create a liability for the american taxpayer  bossy22   Nov-28-11 05:56 PM   #25 
                 - I have an economics degree from Texas A&M, which I earned in 1975. I have taught  plumbob   Nov-28-11 06:17 PM   #27 
                 - Please.. just stop.  girl gone mad   Nov-29-11 04:23 AM   #44 
                 - By exercising unlimited liquidity, the Fed DOES create a liability for the taxpayer - ultimately,  leveymg   Nov-29-11 06:18 AM   #46 
  - Enough with this BS. The bankers earned that money - why do people resent success?  MannyGoldstein   Nov-28-11 03:31 PM   #17 
  - And increased their compensation by 20% during the same period.  jtuck004   Nov-28-11 05:08 PM   #20 
  - ... but we can't afford MEDICARE FOR ALL -- evidently we also spent $8 billion in Congo???  defendandprotect   Nov-28-11 05:24 PM   #21 
  - $25,000 for each US citizen if we had just paid ourselves  riderinthestorm   Nov-28-11 05:30 PM   #22 
  - END CORPORATE WELFARE! nt  alp227   Nov-28-11 05:38 PM   #23 
  - +1  sarcasmo   Nov-28-11 06:53 PM   #30 
  - For that kind of money the people of the USA ought to foreclose on some banks.  hunter   Nov-28-11 06:19 PM   #28 
  - What trillion is the deficit up to now?  sarcasmo   Nov-28-11 06:53 PM   #29 
  - nope  bossy22   Nov-28-11 07:04 PM   #31 
     - I know the banks hand no effect on the deficit.  sarcasmo   Nov-28-11 07:37 PM   #32 
     - not without a major easing program which would cause hyperinflation  bossy22   Nov-28-11 09:11 PM   #35 
        - Why would replacing interest bearing Treasury bonds in an account at the Fed..  girl gone mad   Nov-29-11 04:52 AM   #45 
        - Still would like to know.  girl gone mad   Nov-30-11 05:25 AM   #52 
     - De novo literally means "of new" not "from nothing.." It has the connotation of beginning again or  No Elephants   Nov-28-11 11:22 PM   #40 
  - hmmm ...8 trillion divided by 330 million = X from each US person ...including babies.  L0oniX   Nov-28-11 08:37 PM   #33 
  - Yup, $25k each. What do you think THAT would have done for the economy?? nt  riderinthestorm   Nov-28-11 08:39 PM   #34 
  - none of the money was taken from taxpayers  bossy22   Nov-28-11 09:12 PM   #36 
     - The Fed distributes money. Only Treasury prints it. However, what the Fed does has adverse  No Elephants   Nov-28-11 11:32 PM   #41 
     - Thank you! The Fed IS a tax on the rest of us. Money is a claim for  plumbob   Nov-28-11 11:52 PM   #42 
     - Well then ...too bad they didn't print it up for us.  L0oniX   Nov-29-11 11:01 AM   #47 
  - that is not the American people's debt that is the Feds debt  lovuian   Nov-28-11 11:12 PM   #37 
  - Totally corrupt. - K&R n/t  DeSwiss   Nov-28-11 11:20 PM   #39 
  - The biggest heist EVER.  bvar22   Nov-29-11 11:30 AM   #48 
  - Lent?  progressoid   Nov-29-11 12:17 PM   #50 

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