Wall Street Aristocracy Secretly Got $1.2 Trillion From Fed

Citigroup Inc. and Bank of America Corp. were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest US banks and brokerage firms to their best year ever with $104 billion of profits.

By 2008, the housing market's collapse forced those companies to take more than six times as much, $669 billion, in emergency loans from the US Federal Reserve. The loans dwarfed the $160 billion in public bailouts the top 10 got from ... Full Story »

Posted by Dwight Rousu

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Priscilla L. Davis
4.0
by Priscilla L. Davis - Aug. 25, 2011

This is the mother of all "entitlement programs"! These same republicans support cuts to medicare, social security, education, and scientific research. They want to eliminate Unions rights, cut education and all programs of the federal government that us for the benefit of it's citizenry. They want the government (taxpayer's money) for themselves only and without paying their fair share of the tax burden. They also are quick to ask our military to protect "American Interest" in wars, which translate to corporate interest costing the lives of middle class and poor men and women. It's shameful and disgusting , however we the people, vote for those super-rich people who promote these policies. Is it self-hatred or something worse?

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