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Tuesday, May 5, 2009

The $11.3 Trillion Dollar Financial Bailout Heist

$11.3 trillion blueprint for recovery: (Listed In billions). “This is what the government has pledged. So far, about one-quarter of the money has been used. Below are the initiatives launched since late 2007—from largest to smallest-to rescue the economy, the financial system, and big firms. Taxpayer’s final bill depends on whether loans and investments go bad.” 
(Source documented below.)

• $1800 commercial paper funding facility 10-7-08 lending to corporations by buying their short-term debt. How much used $249.9B

• $1450 Buy mortgage securities 11-25-08. Invest to ease long-term interest rates. How much used: $290.3B

• $1400 Temporary Liquidity Guarantee Program 10-14-08. Insure newly issued bank debt. How much used: $268.7B

• $1000 Term Asset-Backed Securities Lending Facility TALF 11-25-08. Lend to help revive stalled securitized lending to consumers and businesses. How much used: $290.3B

• $787 Stimulus, Obama 2-17-09. Spend and cut taxes to revive economy. How much used: $787B

• $600 Term Auction Facility TAF 12-12-07. Lend to banks against a wide variety of collateral. How much used: $467.3B

• $540 Money Market Investor Funding Facility (MMIFF) 10-21-08. Invest in commercial paper, bought from money-market funds to bolster their liquidity. How much used: $0

• $500 Public-Private Investment Program 3-23-09. Lend for purchase of bad assets from banks. How much used: $0.

• $400 Fannie Mae and Freddie Mac Rescue 9-7-08. Invest to keep key mortgage firms operating. How much used: $0.

• $300 Buy Treasury Bonds 3-18-09. Invest to ease long-term interest rates. How much used. $33.6B.

• $300 Hope for Homeowners Program 7-30-08. Spend to reduce strain on housing market. How much used: $0.

• $250 Capital Purchase Program 10-14-08. Invest in banks to maintain confidence and lending. How much used: $198.8B.

• $234.3 Citigroup Rescue 11-23-08. Insure risky assets at a major bank. How much used: $0.

• $200 Term securities Lending Facility TSLF 3-11-08. Lend to investment banks against variety of collateral. How much used: $85B.

• $168 Stimulus, Bush 2-13-08. Spend and cut taxes to revive economy. How much used: $168B.

• $112.5 AIG Rescue 9-15-08. Lend to prevent collapse of nation’s largest insurance firm. How much used: $88B

• $100 Consumer and Business Lending 3-25-09. Invest in Fed’s TALF to stimulate lending. How much used: $100B.

• $100 Public-Private Investment Program 3-23-09. Invest to remove troubled assets from banks. How much used $0.

• $87.2 Bank of America Rescue 1-16-09. Insure risky assets at a major bank. How much used: $0.

• $70 AIG Rescue 9-15-08. Invest to prevent collapse of nation’s largest insurance firm. How much used: $40B.

• $60 Student Loans 1-16-09. Lend to keep college credit available. How much used: $0.

• $58 Primary and Secondary Credit Programs (predates crisis). Lend to prevent a freeze up in short-term funding for banks. How much used: $58B.

• $50 Money-Market Fund Guarantees 9-19-09=08. Insure to prevent a run on cash accounts. How much used: $0.

• $29 Bear Stearns Merger 3-14-08. Lend against risky collateral to JPMorgan Chase (to enable its purchase of Bear Stearns). How much used: $29B.

• $27.5 Bank of America Rescue 1-16-09. Invest and insure assets to stabilize a key bank. How much used: $20B

• $25 Citigroup Rescue. 11-23-08. Invest and insure assets to stabilize a key bank. How much used: $20B.

• $24.9 GM, Chrysler Rescue 12-19-08. Lend to prevent auto industry collapse. How much used: $24.5B.

• $18.3 Primary Dealer Facility 3-16-09. Lend to investment banks against broad collateral. How much used: $18.3B.

• $15 Small Business Credit 3-16-09. Lend to revive economy. How much used: $0.

• $10 Citigroup Rescue 11-23-08. Insure risky assets at a major bank. How much used: $0.

• $6.1 Money Market Liquidity Facility 9-19-08. Lend to banks to buy commercial paper from money-market funds. How much used: $6.1B.

• $5 Auto Supplier Aid 3-19-09. Lend to auto suppliers and insure payment on some bills they’re owed. How much used: $0.

• $2.5 Bank of America Rescue 1-16-09. Insure risky assets at a major bank. How much used: $0.

Source: The Christian Science government agencies. Research: “Where Did All The Bailout Money Go?”, Mark Trumbull, The Christian Science Monitor, 4-26-09. Originally read from

So, where does the taxpayer fit in? NOWHERE! So, where does the working middle class American fit in? REALLY-NOWHERE! So, where do the hardworking Americans who lost half there retirement savings fit in? NOWHERE! This transfer of wealth continues to remain in the hands of the richest Americans who destroyed the economy of this nation!

This is a Wall Street Financial Crime Syndicate takeover of wealth.

thanks for reading, jerry


SPECTRE of Deflation said...

Both political partys are organized crime syndicates who protect those that pay them tribute while the sheeple are fed bread and circus while Rome burns.

carlandjerry said...

SOD--I tsure appears that way. The banking crime syndicate placed enough pressure on 12 Democrats to defeat Sen. Durbin's amendment that would have helped families save their homes through bankruptcy court. The bankstas did not like the idea of the home's principal being cut, which would affect their collateral.

Damn the working American. Protect the financial crime syndicate, since they now control Congress and government.

SPECTRE of Deflation said...

Durbin spelled it out days ago by saying the Banks own Capit(al)Hill, and of course he's so right. They don't even bother to hide it anymore. I'm living in Bizzaro World where wrong is right, and cheaters always win. The amazing thing to me is that even after doing everything in their power to continue this corrupt system, today we find that these same institutions need more capital from the American Taxpayers, and they will receive it by way of their Toadys on Capit(al) Hill.

SPECTRE of Deflation said...

Check this out, but don't drink or eat anything while watching this video. You may choke to death, and I can't have that on my hands. I give you the Inspector General of The Federal Reserve. You will not believe it:

Is Anyone Minding The Store At The Federal Reserve?

carlandjerry said...

hello SPECTRE---

The Federal Reserve's Inspector General sure comes off really inept and stupid. She is a puppet. There is much bad news to come this year. The under/unemployment rate will take down much of it. The span of workers is tumbling. The rate of foreclosures will add more trouble to the bankster's balance sheets. Industrial production, industrial capacity, consumer spending, will all tumble harder. China, as well, will likely experience much of what we are in the midst of. They, too, have low interest rates, and a huge debt based economy. They will have an over-production problem.

thanks for coming back. jerry

SPECTRE of Deflation said...

Here's a chart I hope you find interesting. It is no longer valid although very timely because the Public Debt has now surpassed $61 Trillion Dollars and GDP has shrunk at the same time. The latest info from April 29, 2009 for Current Dollar GDP from the BEA stands at $14 Trillion. I won't calculate the spike because we might fall on it. :>)!

SPECTRE of Deflation said...

Concerning the judges not being allowed to amend mortgage contracts, I have been thinking that the real way to go after the banksters is not through judicial power that Judges won't want to give up in the future, but rather through the legal system suing these institutions because they failed in their fiduciary duties by not performing mandated safegaurds as required by law. In fact it can be shown that 22 of the top 25 wholesale mortgage lenders are/or were either owned or part own by the very same banks now needing bailouts. In fact they went to far as to form their own appraisal services to make sure the number always came in. They, the Cops, might want to think of RICO on the criminal side, and servere damages for the destruction of so many lives that can be easily documented on the civil side.

Any lawyer out there worth his salt should be licking chops on a class action law suit for all the damaged partys. Hit the bastards where it hurts, their wallets and their new digs called a cell.

SPECTRE of Deflation said...

One other item, the FED'S Lacker says that the worst of the manufacturing slump is over, but does the FED know that the auto makers and therefore their suppliers are about to get a summer break just like the K - 12 crowd? Just asking?

carlandjerry said...

SPECTRE, HELLO, Thanks for your comments. I believe that lawyers are already suing financial planners for failing to protect the investments of their clients. My guess that if lawyers believe they can make a few thousand bucks suing the bankstas, assessors, appraisers, and lenders who inflated market prices in order to sell homes to lowly qualifying buyers, they will.

The fools trying to downplay the real news will never apologize to the public when the economy erodes even further. As workers of all skill levels see their jobs disappear, more homes will go into foreclosure or short sold by the banks, and consumers realize that saving money is their only hope, as well as pay down their debts, commercial bankruptcies will be realized, properties will be empty, state and local taxes will begin to further disappear, industrial production will evaporate, jobs will be further cut, salaries reduced, hours cut, industrial capacity slowed, and inventories either piling up or going flat leading into an inflationary cycle. And, China will face the same problems.

thanks, jerry

Anonymous said...

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