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Sunday, August 21st, 2011SUGGEST NEWS

Wall Street Aristocracy Got $1.2T in Loans
Posted by: Nebuchadnezzar on August 21st, 2011 @ 9:51PM

Link - And we're supposed to feel bad about people hiding their money from the government?

Fed Chairman Ben S. Bernankeís unprecedented effort to keep the economy from plunging into depression included lending banks and other companies as much as $1.2 trillion of public money, about the same amount U.S. homeowners currently owe on 6.5 million delinquent and foreclosed mortgages. The largest borrower, Morgan Stanley (MS), got as much as $107.3 billion, while Citigroup took $99.5 billion and Bank of America $91.4 billion, according to a Bloomberg News compilation of data obtained through Freedom of Information Act requests, months of litigation and an act of Congress.

Foreign Borrowers

It wasnít just American finance. Almost half of the Fedís top 30 borrowers, measured by peak balances, were European firms. They included Edinburgh-based Royal Bank of Scotland Plc, which took $84.5 billion, the most of any non-U.S. lender, and Zurich-based UBS AG (UBSN), which got $77.2 billion. Germanyís Hypo Real Estate Holding AG borrowed $28.7 billion, an average of $21 million for each of its 1,366 employees. (WTF)

The largest borrowers also included Dexia SA (DEXB), Belgiumís biggest bank by assets, and Societe Generale SA, based in Paris, whose bond-insurance prices have surged in the past month as investors speculated that the spreading sovereign debt crisis in Europe might increase their chances of default.


but they`re creating jobs! and that 1.2 trillion is trickling down to everyone else, lets pay attention

killer6600
- 2011-08-21 22:07:08

Source: Kotaku
COMMENTS (3) | US GOVERNMENT WASTE | DIGG
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killer6600
Marine

August 21st, 2011 @ 10:07PM

Registered:
2007-06-16
Location:
canada
Posts: 1411
but they`re creating jobs! and that 1.2 trillion is trickling down to everyone else, lets pay attention
jdLordHelmet
Good is Dumb

August 22nd, 2011 @ 2:35PM

Registered:
2003-12-22
Location:
Atlanta, GA
Posts: 1316
Funny thing about loans. You have to pay them back (with interest).
dmikon
Peon

August 24th, 2011 @ 9:19PM

Registered:
2004-11-05
Location:
USA
Posts: 399
"but they`re creating jobs! and that 1.2 trillion is trickling down to everyone else, lets pay attention"

They`re not creating jobs! They`re paying too much tax. If they pay 3.2% less tax, THEN we`ll get all the jobs.


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