Monday, August 22, 2011

Banker Pillaging

Wall Street Aristocracy Got $1.2 Trillion From FedBy Bradley Keoun and Phil Kuntz - Aug 22, 2011 5:19 AM MTMon Aug 22 12:19:08 GMT 2011
http://www.bloomberg.com/news/2011-08-21/wall-street-aristocracy-got-1-2-trillion-in-fed-s-secret-loans.html

Citigroup Inc. (C) and Bank of America Corp. (BAC) were the reigning champions of finance in 2006 as home prices peaked, leading the 10 biggest U.S. 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 U.S. Federal Reserve. The loans dwarfed the $160 billion in public bailouts the top 10 got from the U.S. Treasury, yet until now the full amounts have remained secret.

READ THE ENTIRE ARTICLE AT THE LINK ABOVE AND BE OUTRAGED!

Then read about Wall Street and commercial bank bonsues over the recession
 
Hard Times, But Big Wall Street Bonuses
http://www.cbsnews.com/stories/2008/11/12/earlyshow/main4595179.shtml

Study Says 80% Of Wall Street Got 2008 Bonus
http://www.forbes.com/2009/01/28/wall-street-bonuses-business-wall-street_0128_bonuses.html

Wall Street banks in $70bn staff payout
Pay and bonus deals equivalent to 10% of US government bail-out package
http://www.guardian.co.uk/business/2008/oct/17/executivesalaries-banking

Study: Bank Bonuses Far Exceeded Profits
http://www.cbsnews.com/stories/2009/07/30/business/main5197668.shtml


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