It has been revealed that between December 2007 and July 2010, the US government has handed out 3.3 trillion dollars to all manner of financial institutions. This took place with 21,000 Fed transactions through 11 special lending facilities set up by the central bank. This money does not even include the 700$ billion TARP funds.
The aggregate amount loaned out is tens of trillions of dollars. The Term Auction and Primary Credit facilities total around $13 trillion dollars.
Here are some of the recipients:
Goldman Sachs $600 billion
Merrill Lynch $35 billion
General Electric $15 billion
Deutsche Bank (approx.) $900 million
AIG got 40% of the money
This entire crisis we are facing right now is the result of the game of gambling that is capitalism. The profit motive, virtue of selfishness, greed is good garbage is what caused this entire mess. They scream endlessly about needing incentive to operate claiming they wouldn’t be able to get up in the morning without it. What do we the working class get? Spit in the God damn face and told that it’s just tough all around. We all have to tighten our belts in order to get through this recession and crisis. This is capitalism people, none of this free enterprise garbage conjuring up images of mom and pop convenience stores. This right here, the theft of $20 trillion tax payer dollars is capitalism!
This is the result of allowing rich elite to run things. This is the result of having rich elite. Don’t give me any of this “its government’s fault”, “that’s not real capitalism” stupidity. The problem is not the damn government it’s the f-ing rich who is doing all of this! Not the guns kill people idiocy; it’s the person holding the gun. Ever notice how Cuba or the Soviet Union didn’t go around handing out trillions to private banks and rich people? No, they didn’t because those people didn’t exist! Stop blaming the government for your own hateful, exploitative, BS system.
The last month or so the elites in the media have been screaming how there isn’t $60 billion to help the people that got screwed over by the wealthy elite. But there’s $20 trillion to give in free handouts to the top 5%. How in the hell can anyone defend capitalism after this?
The worst part is the American people are going to sit there and take it. The only ones who will make any noise are those Tea Baggers and their stupid tricorn hats calling for a black president to be hanged.