"The Federal Reserve and the big banks fought for more than two years to keep details of the largest bailout in U.S. history a secret. Now, the rest of the world can see what it was missing."
You owe it to yourself, your children, your retirement savings, your home and your sanity to take fifteen minutes to read the analysis from Bloomberg.com, which provides for the first time the details of the 2007-2009 financial bailout of the U.S. banks. Over 29,000 pages of documents were obtained using the Freedom of Information Act. The U.S. Federal Reserve resisted releasing these documents, the government clearly does not want you to know the truth about how much of the taxpayers money was used. Remember the $700 Billion dollar number - that was how much Congress approved for the Bush Bank Bailout in 2007. Want to know the real number for all the bailouts under both Bush and Obama including the secret monies that neither President approved - $7.77 Trillion. What the heck, it's only one more zero.
No more grumbling about Obama's spending or the Fed's 'Too Big to Fail' policies until you read this article.
Here's another little teaser:
“When you see the dollars the banks got, it’s hard to make the case these were successful institutions,” says Sherrod Brown, Democratic Senator from Ohio. “This is an issue that can unite the Tea Party and OccupyWall Street. There are lawmakers in both parties who would change their votes now [on bank regulation].”