“Saving Bankster Bonuses”
An interesting article at UrbanSurvival.com about the Fed Moves over the last week with regard to the “economy.” And as more and more people come to understand the trouble that lay ahead the “elite” continue to rape the taxpayers without fear of retribution. Here are a couple of excerpts from the article. Please click the link below to read the full article and roam the site for more interesting news.
With the interest rate cuts Tuesday the FED has now done 5 actions in ONE week!! UNPRECEDENTED in my memory (which unfortunately is longer than I wish it was)
Tues 3/11: Helicopter drop of $200 Billion Dollars into the banking system Fri 3/14: Helicopter drop of unknown amount of $$ into Bears Stearns via Chase Bank Sun 3/16: Helicopter drop of additional $30 Billion Dollars into Bears Stearns via Chase Bank Sun 3/16: 1/4 point rate cut Tues 3/18: 3/4 point rate cut
And the taxpayers footing the bill:
VOILA … since they did not file bankruptcy, but were instead “sold” for a mere $250 million (1/4 the value of their NYC office building) , the TAXPAYER, via the FED, ends up footing the MULTI BILLIONS DOLLARS in costs and expenses that would otherwise have been paid out of those returned Bonuses!!
In other words … and I am somewhat LIVID on this one: The Taxpayers GAVE those high paid INDIVIDUAL Wall Street Bankers at Bear Stearns a departing PERSONAL GIFT OF SEVERAL BILLION DOLLARS by allowing this deal to be structured as it was!!
See the entire article HERE.