When the mainstream media is reporting stories like this, you know it is so serious that it cannot be ignored, even if they wanted to.
Today Bloomberg has revealed that the “Wall Street Aristocracy” received a staggering $1.2 trillion in loans. Yes, you read that right: $1.2 trillion.
The private Federal Reserve calls these hand-outs to their corporate cronies “emergency loans” but in reality they are nothing more than friends giving friends unfathomable amounts of money in order to “keep the economy from plunging into depression”.
Of course Federal Reserve Chairman Ben Bernanke and Bloomberg opt to characterize the giveaway of public funds as legitimate “unprecedented efforts” to help our withering economy, when this is far from the case as we have seen from the entire “stimulus” package that has just driven American deeper into the black hole of debt.
If Bernanke actually cared one iota about getting the American economy back on track, he would have given the money to the people of the United States.
This $1.2 trillion would be able to cover almost the entire 6.5 million delinquent and foreclosed mortgages of struggling American citizens. Instead, and not at all surprisingly, Bernanke and the Fed opted instead to give the money to their buddies.