Do You Realize The Government Is Still Paying Banks Not To Lend...?

[katty]

more: http://www.businessinsider.com/government-paying-banks-not-to-lend-2011-8

Do You Realize The Government Is Still Paying Banks Not To Lend...?

One of the most outrageous "open secrets" of U.S. government policy these days is that the Federal Reserve is still paying big banks not to lend money.

And it's doing that while screwing average Americans who have been responsible and lived within their means.

[truedelphi]

1. Obama in late November 2008 -

"Hank is doing a good job."

And that is when I realized we had been played.

[yurbud]

5. wow--got a link for that? I made an animation or two about my take on Hanks performance:

Give Paulson a golden shower instead of a golden handshake
http://fascart.blogspot.com/2008/09/video-golden-shower-for-wall-st-bailout.html

Tar & Feather Paulson
http://fascart.blogspot.com/2008/09/photoshop-video-tar-feather-wall-st-for.html

[truedelphi]

6. It was the "Sixty Minutes" Interview

With President Elect Obama. A Sunday Night in late Nov 2008.

I went into shock/denial.

When I watch video of that night in Grant Park, Chicago, as Obama addressed us all and thanked us for our part in the victory, it all seems so much like the nation had realized a dream. Still hurts to think of it being a scam.

[yurbud]

7. that was the last time most of us believed our system can work. Now we know better

Democracy can work, but our current system is so profoundly corrupt, that we probably have to start over from scratch.

[dixiegrrrrl]

2. A: I take exception to the slant of the article about the banks

and B: to further down in the article where it says Perry threatened to "kill" Bernanke.

Most people here know from my posts that I am against the banksters and the financial terrorism they and Fed etc are carrying out
so read my exception closely.

Article state the banks are getting interest for keeping money at the Fed Reserve.
While probably one could argue that is so wrong, it is NOT "paying the banks not to lend".
The banks could, if they wanted to, lend to anyone and at higher rates than the Fed pays them.
And in fact, they DO lend at very high rates, as anyone with a credit card knows,
as anyone with a mortgage or car loan knows.

What is REALLY wrong is the FED continues to let banks "borrow" money at ZERO interest and then PAYS 0.25% interest on this money. Double enrichment, indeed.

B: Perry's comment about Bernanke did not read to me like a death threat.

"I dunno what y’all would do to him in Iowa but we would treat him pretty ugly down in Texas"

It did read as hypocritical as hell,
given that Perry is running for an office in a Federal government he stated as Texas governor he wanted to secede from.

[bemildred]

3. They are still trying to figure out what to do about the CDOs etc.

Meanwhile, they are doing everything possible to pretend that nothing has to be written down.

But I don't see how they can "fix" the leveraged asset problem without reinflating the housing bubble, and I don't see how that can be done without lots of lending at low rates.

[Demeter]

4. Yes, I Do. Take It Up With Uncle Ben and Timmy in the Well.

Don't even bother talking to Obama. Next question?