Posts Tagged ‘ ” junk mortgage-backed derivative based securities” ’

More Bank Bailouts In Our Future?

It’s being reported by infowars.com that there may be a new round of bank bail out’s in the works under the guise of QE3.

While Ben Bernanke’s announcement that the Federal Reserve will embark on an open ended scheme to purchase $40 billion in mortgage-backed securities each month has been touted by the establishment media as the beginning of “QE3″ it is in fact nothing less than another banker bailout in disguise.

While many have rightly attacked the Fed’s policy of printing money as a band aid that does little to solve the economy in the long term, this new move isn’t even about that. The policy announced yesterday will merely see the Fed use taxpayer money to purchase more bad debt in the form of junk mortgage-backed derivative based securities that have been sold over and over again.

This has nothing to do with getting the economy going again and will only serve as yet another huge wealth transfer from the middle class to the elite.

Read full article

In light of this information I decided to go see which banks that previously received a bailout have actually paid back what they received. You can view a full list HERE but we’ll cover some of the banks here as well. This is just a small portion of the banks that are in default right now….

Fannie Mae still owes $90,617,000,000
Freedie Mac still owes $51,199,000,000
AIG still owes $2,609,686,768
General Motors still owes $27,197,156,843
GMAC (now Ally Financial) still owes $10,752,090,618
Chrysler still owes $1,315,061,737
CIT Group still owes $2,286,312,500

If an American owes back taxes you better bet the IRS will be seizing anything and everything they own in order to recoup that money but what’s been the penalty for these banks? Our incredibly thoughtful government never bothered to stipulate ANY penalties therefore there are NONE! They can just keep right on doing business, paying their CEO’s billions in bonuses and thumb the American public that had their money stolen in order to ensure the rich would continue their wild spending. Absolutely disgusting!