Visualizing What $1.2 Trillion In Secret Fed Bailouts To The Banking Kleptocracy Looks Like

[Donnachaidh]

http://www.zerohedge.com/news/visualizing-what-12-trillion-secret-fed-bailouts-banking-kleptocracy-looks

While Bloomberg has done a tremendous job of digging through 29,346 pages of FOIA data, its discovery is not at all surprising: that Wall Street's (not to mention the rest of the world's) biggest banks received a total of $1.2 trillion in previously secret Fed loans, in addition to the trillions in public backstops and loans from the US Treasury. As a reminder, "denominated in $1 bills, the $1.2 trillion would fill 539 Olympic-size swimming pools." The best summary of this ongoing collusion between the Fed and Wall Street, in which it once again for the nth time becomes clear that all the Fed cars about is making sure its banking masters are never impaired, is from the article itself: "Even as the firms asserted in news releases or earnings calls that they had ample cash, they drew Fed funding in secret, avoiding the stigma of weakness." And there you have it: everything that come out of Wall Street is and has always been a lie: either courtesy of 30 years of great interest rate moderation, in which only cheap money adds to banks' top and bottom lines, or due to the Fed making sure the same banks never suffer a dollar loss when central planning fails, such as it does increasingly often lately (and forget about 10(b)-5 violation charges coming from the corrupt regulators: after all they are all in bed together). That Morgan Stanley, Dexia and Citi are, and have been since 2008, dead men walking, is by now known to all financially literate readers: additional confirmation can be found in the Bloomberg article, which we won't paraphrase because it has all been said over and over. That said, Bloomberg has done a great visual interactive chart summary of who got what, when, how much, over peak and average metrics and so forth. We urge readers to play around with it (don't worry, it won't break the banks; and if it does the Fed will secretly bail them out again) and every time they consider putting money into our "solvent" financial system.

[DirkGently]

1. Maybe the most-underplayed story of the entire crisis.

[Javaman]

2. I remember back in the 80's...

I was living on Long Island.

Newsday ran a story about how much is $1 trillion dollars? (That was the deficit then.)

They stated that if you had $1 trillion dollars all in $1 dollar bills, it would cover the entire length and width of Long Island...3 bills deep.

[CrispyQ]

3. What one trillion dollars looks like:

http://www.pagetutor.com/trillion/index.html

Everytime I see this my jaw drops.

[Javaman]

4. Dang...

It's easy to see how pallet loads of billions went missing in Iraq...

:rofl: Sorry, I couldn't hold it in! LOL